The chemical manufacturing industry in Benelux plays a vital role in the economic fabric of the region, engaging in the production of a wide range of chemical products such as pharmaceuticals, plastics, and industrial chemicals. Companies vary from small startups driven by innovative technologies to large corporations with international reach. This sector is increasingly focused on sustainability, with a shift toward green chemistry and biodegradable materials. The region also benefits from robust research and development capabilities, positioning it as a hub for innovation. Investment in automation and digital transformation is expected to enhance productivity and responsiveness to market demands.


The investor landscape in Benelux showcases a mix of corporate, private equity, and venture capital firms actively participating in the chemical manufacturing sector. Spanning across cities like Brussels and Amsterdam, these investors range from established entities like the European Investment Bank to newer players like Astanor. The sizes of these firms vary, with many managing substantial assets and conducting multiple transactions in 2024, reflecting their strategic interest in fostering innovation and sustainability within the industry. While some firms are well over a decade old, others have emerged more recently, indicating a dynamic investment environment in the region.


Top 18 Chemical Manufacturing Investors in Benelux


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in funding projects relevant to chemical manufacturing, such as Susphos, which received both a grant and equity investment for its innovative upcycling solution for phosphate from waste streams. Other transactions include grants awarded to SynHet and DEMETA, indicating the EIC's commitment to supporting innovative solutions that may intersect with the chemical industry.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services aimed at supporting sustainable projects across various sectors. In 2024, the EIB was involved in notable transactions within the chemical manufacturing sector, such as providing post-IPO debt financing to Evonik Industries, which raised approximately $547 million, and to Umicore, which raised around $377 million in a similar transaction. These investments highlight the EIB's commitment to supporting growth and innovation in the chemical industry, alongside its broader mandate to promote sustainable development across multiple sectors.


3. Azelis

  • Website: azelis.com
  • Type: Corporate
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 5
  • LinkedIn: azelis

Azelis is a corporate investor based in Antwerp, Flanders, Belgium, specializing in the distribution of specialty chemicals and providing innovation services. Founded in 2001, Azelis serves over 63,000 customers across the life sciences and industrial sectors, focusing on delivering high-quality raw materials and innovative formulations tailored to specific market needs. In recent years, Azelis has made several strategic acquisitions to bolster its presence in the chemical manufacturing landscape. Notable transactions include the acquisition of Chemiplas, a distributor of specialty chemicals in the Asia-Pacific region, and FRIENDSHIP CHEMICAL COMPANY LIMITED, which enhances their footprint in the Chinese industrial chemicals market. Additionally, their acquisition of YDS Chemicals NV strengthens their position in the Personal Care and Chemical Industries in the Benelux region. These transactions reflect Azelis's commitment to expanding its capabilities and market reach within the specialty chemicals sector.


4. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent investment firm founded in 2005, based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. With approximately €193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Among their notable transactions in the chemical manufacturing sector, CVC acquired Taminco in 2007, a company known for its specialty chemicals, for over $1 billion. In 2018, they acquired AOC, a resin company specializing in various resin chemistries, further expanding their footprint in the chemical industry. Additionally, their investment in Evonik Industries, where they acquired a 25.01% stake, highlights their commitment to the sector. CVC's involvement in DFE Pharma, a manufacturer of excipients for the pharmaceutical industry, also showcases their diverse interests within the chemical space.


5. dsm-firmenich

  • Website: dsm-firmenich.com
  • Type: Venture Capital
  • Headquarters: Maastricht, Limburg, Netherlands
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: dsmfirmenich

dsm-firmenich is a for-profit company based in Maastricht, Limburg, Netherlands, specializing in the nutrition, health, and beauty sectors. With a workforce of over 10,000 employees, the company offers a diverse range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients. As an investor, dsm-firmenich has participated in several notable transactions relevant to the chemical manufacturing context. For instance, they were involved in the Series A funding round for Octarine Bio, a synthetic biology platform, which raised €4.3M to scale its flagship products. This investment highlights dsm-firmenich's commitment to supporting innovative companies that contribute to advancements in chemical manufacturing. Additionally, their earlier investments in companies like Novomer and Upfront Chromatography further illustrate their active role in the chemical sector, focusing on sustainable and innovative solutions.


6. Triton Partners


Triton Partners is a private equity investment firm founded in 1997, based in Luxembourg, specializing in private equity and credit investments in European mid-market businesses. The firm focuses on various sectors, including Business Services, Industrial Tech, and Healthcare, but has also made significant investments in the chemical manufacturing industry. Notably, Triton acquired Fertiberia, a leading fertilizer manufacturer, in August 2019, highlighting their commitment to the chemical sector. Additionally, their acquisition of Norres Group in October 2018, a manufacturer of plastic industrial hoses, further emphasizes their involvement in industries that support chemical manufacturing. Triton Partners aims to provide operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth.


7. Eurofins

  • Website: eurofins.com
  • Type: Corporate
  • Headquarters: Luxembourg
  • Founded year: 1987
  • Headcount: 10001+
  • Number of deals in 2024: 8
  • LinkedIn: eurofins

Eurofins Scientific SE is a prominent laboratory testing company based in Luxembourg, founded in 1987. With a workforce exceeding 10,000 employees and a global presence across 62 countries, Eurofins operates over 900 laboratories, providing a wide range of analytical and testing services. The company serves various industries, including pharmaceuticals, food, and environmental sectors, ensuring compliance and quality assurance for its clients' products. Eurofins has made significant strides in expanding its capabilities through strategic acquisitions. Notably, in 2017, Eurofins acquired EAG Laboratories for $780 million, which added 21 laboratories worldwide and enhanced their service portfolio in testing and diagnostics. Additionally, the acquisition of Eurofins CDMO Alphora further solidified their position in the pharmaceutical and chemical manufacturing sectors, as it focuses on contract development and manufacturing. These transactions highlight Eurofins' commitment to supporting the chemical manufacturing industry, despite their broader focus on laboratory testing services.


8. Gimv

  • Website: gimv.com
  • Type: Venture Capital
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 1980
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: gimv

Gimv is a venture capital investment firm based in Antwerp, Flanders, Belgium, founded in 1980. The firm partners with innovative companies across multiple sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Notably, Gimv has made significant investments in the chemical manufacturing sector, including the acquisition of EcoChem International, a Belgian producer of eco-friendly flame retardants, which highlights its commitment to sustainable chemical solutions. Additionally, Gimv has invested in Biotalys, a company focused on developing sustainable agricultural solutions, indicating its interest in the intersection of chemicals and sustainability. These transactions reflect Gimv's strategic approach to supporting entrepreneurial companies in navigating market challenges while contributing to the chemical manufacturing industry.


9. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux, a private equity firm based in Amsterdam, specializes in acquiring and managing companies in transition. Founded in 2021, the firm focuses on providing operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has made significant strides in the chemical manufacturing sector through its acquisition of SFC Solutions, which encompasses seals and fluids activities, employing around 2,500 people and generating substantial revenues. Additionally, their acquisition of Cikautxo Rubber & Plastic Components aims to strengthen their presence in the automotive market, which often intersects with chemical manufacturing. These transactions highlight Mutares' strategic investments in areas that are integral to the chemical industry, reinforcing their role as a relevant investor in this space.


10. Capricorn Partners


Capricorn Partners is an investment management firm based in Leuven, Flanders, Belgium, specializing in venture capital, growth capital, and quoted equity funds. Founded in 1993, the firm focuses on innovative companies across various sectors, including digital technologies, health, and clean technologies. Notably, Capricorn Partners has invested in Green Biologics, a UK-based chemicals producer, participating in multiple funding rounds, including a Series C round where Green Biologics raised $42 million in January 2015. They also invested in Avantium, a company that raised significant funds in both Series G and earlier rounds, which is involved in developing sustainable chemical processes. Capricorn Partners operates with a commitment to responsible investing, aiming to create both financial returns and strategic value for its clients, particularly in sectors that promote sustainability and innovation.


11. Brabantse Ontwikkelings Maatschappij (BOM)


Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital development agency based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM supports startups and scale-ups in the Brabant region by offering various programs aimed at enhancing business growth, including readiness programs for venture capital and innovation in sustainable food and energy sectors. They collaborate with businesses to provide funding, expertise, and networking opportunities. Among their notable transactions, BOM has invested in Rodenburg Biopolymers, which focuses on producing biopolymers, and PeelPioneers, a company that reuses citrus peels to create essential oils and citrus pulp, showcasing their involvement in the chemical manufacturing sector. Additionally, BOM has participated in funding rounds for Cristal Therapeutics, which, while primarily focused on nanotechnology and pharmaceuticals, indicates their engagement in innovative chemical applications. These investments highlight BOM's role in fostering innovation and sustainability within the chemical manufacturing landscape.


12. Pmv

  • Website: pmv.eu
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2001
  • Headcount: 51-200
  • Number of deals in 2024: 11
  • LinkedIn: pmv-eu

Participatiemaatschappij Vlaanderen (PMV) is a public entity based in Brussels, Belgium, that acts as an investment company for the Flemish government. Founded in 2001, PMV provides a range of financing solutions, including loans and co-financing, to startups, scale-ups, and established businesses across various sectors, including real estate, clean tech, and life sciences. Notably, PMV has made significant investments in the chemical manufacturing sector, including a €20 million financing round for Avantium, a chemical technology company focused on commercializing innovative technologies. Additionally, PMV led an $8 million Series C-2 financing for FRX Innovations, a manufacturer of environmentally friendly flame retardant plastics, which coincided with the opening of their first industrial-scale plant in Antwerp, Belgium. PMV's involvement in these transactions highlights its role in supporting the growth and sustainability of the chemical manufacturing industry.


13. AkzoNobel

  • Website: akzonobel.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1792
  • Headcount: 10001+
  • LinkedIn: akzonobel

AkzoNobel N.V. is a prominent corporate investor based in Amsterdam, Netherlands, with a rich history dating back to 1792. As a leading manufacturer of paints and coatings, AkzoNobel provides innovative and sustainable solutions for both industrial and consumer markets. The company serves a diverse customer base, including businesses in construction and automotive industries, as well as individual consumers. AkzoNobel has made significant strides in the chemical manufacturing sector through various acquisitions, such as the purchase of Kao Chemicals Europe S.L.'s fatty amine business, which enhances its portfolio in specialty chemicals. Additionally, the acquisition of Stahl Performance Powder Coatings in 2020 has strengthened its capabilities in low-curing technology for heat-sensitive substrates, further emphasizing its commitment to sustainable solutions. Other notable transactions include the acquisition of the alloy wheel liquid coatings business of Lankwitzer Lackfabrik GmbH and VPowdertech, both of which expand AkzoNobel's offerings in the coatings and specialty chemicals market. With a strong focus on sustainability and innovation, AkzoNobel operates in over 150 countries, delivering high-quality products that enhance and protect surfaces.


14. Invest-NL

  • Website: invest-nl.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2020
  • Headcount: 51-200
  • Number of deals in 2024: 17
  • LinkedIn: invest-nl

Invest-NL is an impact investment firm based in Amsterdam, founded in 2020, that focuses on financing sustainable and innovative projects in the Netherlands. They support entrepreneurs with promising plans for societal transitions, particularly in energy and technology sectors. In the realm of chemical manufacturing, Invest-NL has made significant contributions, including a €13M investment in Pryme N.V., which aims to reduce plastic waste through a pyrolysis process. They also participated in the funding of BioBTX, which is developing the world's first demonstration plant for innovative chemical technology. Other relevant transactions include their backing of Delft IMP and Paques Biomaterials, both of which are involved in sustainable chemical solutions. By mobilizing capital from various sources, Invest-NL aims to make impactful investments that contribute to a more sustainable economy, including within the chemical manufacturing industry.


15. Astanor

  • Website: astanor.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: astanor-venture

Astanor is an impact investment firm based in Luxembourg, founded in 2017, that focuses on the agrifood tech sector. They support innovative companies aiming to create sustainable food systems through strategic guidance and investment. Astanor has been involved in several notable transactions that intersect with the chemical manufacturing industry. For example, they led a €15 million Series A funding round for Calyxia, a startup developing biodegradable microcapsule technology to mitigate harmful microplastics, which is relevant to the chemical processes in laundry and crop protection. They also participated in a $130 million Series C funding round for Modern Meadow, a company that develops bio-based materials, showcasing their commitment to sustainable materials that can impact chemical manufacturing. Furthermore, Astanor's investment in Planetary, which aims to enhance industrial-scale bioprocessing capacity in food fermentation, highlights their engagement in sectors that overlap with chemical manufacturing processes. Overall, Astanor leverages its expertise to drive growth and sustainability in the agrifood tech space, while also making strides in areas pertinent to chemical manufacturing.


16. Astorg

  • Website: astorg.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 1998
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: astorg

Astorg is a private equity firm based in Luxembourg, founded in 1998, with a focus on investing in global B2B companies. With €22 billion in assets under management, Astorg specializes in providing capital, strategic guidance, and governance to management teams across various sectors, including healthcare, technology, and business services. Notably, Astorg has made significant investments in the chemical manufacturing sector, including the acquisition of IGM Resins, a company specializing in resin manufacturing, and CordenPharma, a contract drug development and manufacturing firm with a strong presence in the pharmaceutical chemicals space. Additionally, their acquisition of Kerneos, which produces calcium aluminate cement, further emphasizes their engagement in the chemical industry. Through these transactions, Astorg demonstrates a commitment to creating long-term value and fostering partnerships with entrepreneurs in the chemical manufacturing domain.


17. Innovation Fund


The Innovation Fund is a corporate investment fund based in Schaerbeek, Brussels, Belgium, founded in 2015. It focuses on supporting innovative startups and companies primarily in the chemistry and life sciences sectors. The fund provides funding and resources to help these companies develop their projects, collaborating with various partners and sourcing projects from academic institutions and industry initiatives. Notable transactions include investments in Zeopore Technologies, which is working on core technology for specific applications in collaboration with catalyst manufacturers, and PharmaFluidics, a research diagnostics spinout that secured funding alongside other investors. These transactions highlight the fund's active role in the chemical manufacturing context, reinforcing its commitment to innovation in this industry.


18. Syensqo Ventures

  • Website: solvay-ventures.com
  • Type: Corporate
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 4
  • LinkedIn:

Syensqo Ventures is a corporate investor based in Brussels, Belgium, founded in 2016. As a chemical manufacturer, Syensqo specializes in advanced materials and solutions that cater to diverse industries, including aerospace, automotive, and healthcare. The company emphasizes innovation and sustainability through its research and development efforts. Notably, Syensqo Ventures has participated in several significant transactions within the chemical manufacturing context, including a $2.1 million investment in Bioeutectics for their green solvents, showcasing their interest in sustainable chemical solutions. They also participated in the Series A funding round for Compact Membrane Systems, which focuses on olefins and carbon capture solutions, further highlighting their commitment to advancing chemical technologies. Additionally, their involvement in funding rounds for companies like Autonomic Materials, which develops self-healing smart coatings, reflects their engagement in innovative chemical applications.



Chemical Manufacturing Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
European Investment Bank (EIB)Luxembourg1001-5000195899
AzelisAntwerp, Flanders, Belgium1001-500020015
CvcLuxembourg1001-5000200516
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
Triton PartnersLuxembourg201-50019976
EurofinsLuxembourg10001+19878
GimvAntwerp, Flanders, Belgium51-20019808
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
PmvBrussels, Brussels, Belgium51-200200111
AkzoNobelAmsterdam, North Holland, Netherlands10001+17920
Invest-NLAmsterdam, North Holland, Netherlands51-200202017
AstanorLuxembourg11-50201710
AstorgLuxembourg51-20019988
Innovation FundSchaerbeek, Brussels, Belgium1-1020150
Syensqo VenturesBrussels, Brussels, Belgium1-1020164


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