The medical imaging industry in Benelux focuses on developing technologies that enable detailed visualization inside the human body. Companies in this space include diagnostic imaging vendors, software developers, and bioscience firms, offering products such as MRI machines, ultrasound systems, and image analysis software. The sector is seeing growth driven by advancements in artificial intelligence and its integration into imaging technologies, which enhances diagnostic accuracy and efficiency. Moreover, the emphasis on personalized medicine is pushing for innovations that cater to patient-specific needs. As healthcare evolves, these technologies will shape the future of diagnostics, paving the way for improved patient outcomes.


The investors in this list represent a mixture of venture capitalists and private equity firms, each contributing to the medical imaging sector's growth. Headquartered across the Benelux region, these firms vary in size and background. From Gilde Healthcare and Forbion in the Netherlands to CVC Capital Partners in Luxembourg, these investors were established from 1980 to 2014. Collectively, they counted over 200 investments in 2024, focusing on innovative companies that drive advancements in medical imaging technology and services.


Top 18 Medical Imaging 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 a range of funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC also provides business acceleration services, networking opportunities, and prizes to promote innovation in various sectors. Notably, the EIC has been involved in funding medical technology companies, such as iThera Medical, which raised €13M in a Series D funding round with participation from the EIC Fund. This funding is intended for the development of a MSOT device for clinical use, highlighting the EIC's role in advancing medical imaging technologies. Additionally, the EIC has supported KinePict, another company in the medical imaging space, through grants and venture funding, further demonstrating its commitment to this industry.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In recent years, EIB has been involved in several notable transactions within the medical imaging sector. For instance, it provided post-IPO debt financing to Median Technologies, raising over $39 million in both 2019 and 2025. Additionally, EIB supported medneo with approximately $35 million in debt financing in 2017, and NVision Imaging Technologies received around $16 million in debt financing in 2024. Furthermore, Robocath secured about $17 million in debt financing from EIB in 2021. These transactions highlight EIB's commitment to fostering innovation and growth in the medical imaging industry, making it a relevant investor in this field.


3. Life Sciences Partners (LSP)

  • Website: lspvc.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1987
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: lsp-bioventures

Life Sciences Partners (LSP) is a venture capital firm based in Amsterdam, Netherlands, founded in 1987. The firm specializes in private equity investments within the healthcare sector, connecting investors with innovative healthcare companies. LSP focuses on drug development and medical technology, aiming to foster advancements that address unmet medical needs. Notably, LSP has been involved in significant transactions in the medical imaging context, including leading investments in LUMA Vision, a company specializing in 4D cardiac imaging. LSP participated in multiple funding rounds for LUMA Vision, including a $17 million investment in June 2020 and a $22 million Series A3 financing in December 2023. These investments highlight LSP's active role in supporting the development of medical imaging technologies. Additionally, LSP has invested in Nexstim, a medical technology company, further showcasing their commitment to the healthcare sector.


4. Forbion

  • Website: forbion.com
  • Type: Venture Capital
  • Headquarters: Naarden, North Holland, Netherlands
  • Founded year: 2006
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: forbion-capital-partners

Forbion is a venture capital firm founded in 2006, based in Naarden, North Holland, Netherlands. It specializes in the life sciences and bioeconomy sectors, providing investment management and support to biotech companies. Forbion collaborates with entrepreneurs and academic institutions to address unmet medical needs and improve patient outcomes. Notably, Forbion has been involved in significant transactions such as the Series B funding for Precirix, which focuses on precision radiopharmaceuticals in oncology, highlighting its engagement in medical imaging technologies. Additionally, Forbion has participated in funding rounds for companies like Curetis and Exosome Diagnostics, which, while not exclusively focused on medical imaging, contribute to the broader landscape of diagnostics and therapeutic innovations.


5. Gilde Healthcare


Gilde Healthcare is a venture capital firm based in Utrecht, Netherlands, specializing in healthcare investments. Founded in 1982, the firm manages over €2.6 billion across two fund strategies: Venture & Growth and Private Equity. Gilde Healthcare invests in innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notably, Gilde Healthcare has been involved in significant transactions within the medical imaging sector, including the acquisition of IRD SA through its RAD-x platform, which aims to expand its presence in diagnostic imaging. Additionally, Gilde participated in a Series C funding round for Karius, a company focused on genomic diagnostics, which may have applications in medical imaging. These transactions highlight Gilde Healthcare's strategic interest in the medical imaging industry, making it a relevant player in this field.


6. M Ventures

  • Website: m-ventures.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 18
  • LinkedIn: merck-ventures

M Ventures is a venture capital fund based in Amsterdam, Netherlands, founded in 2009. The firm specializes in investing in transformative ideas within the biotechnology and technology sectors, with a strong emphasis on healthcare and life sciences. M Ventures provides funding and strategic guidance to startups, helping them achieve commercial success. Among their notable transactions, M Ventures led a $5.4 million Seed round for PxE Holographic Imaging, an Israeli startup focused on innovative imaging solutions, highlighting their active role in the medical imaging space. They also participated in funding rounds for Altoida, which is involved in developing platforms that may utilize imaging technologies for healthcare applications. Their investment strategy reflects a commitment to driving innovation and growth in the medical imaging sector, alongside their broader interests in advanced technology and life sciences.


7. Brabantse Ontwikkelings Maatschappij (BOM)


The Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital firm based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM is dedicated to supporting startups and scale-ups in the Brabant region by providing funding, expertise, and networking opportunities to enhance business growth. They have a diverse investment portfolio, including significant contributions to the medical imaging sector. Notably, BOM participated in the Series A and Series B funding rounds for SamanTree Medical, a company specializing in cancer surgery and medical imaging technology, raising a total of $14 million in 2024 and CHF9.5 million in 2019 for the commercialization of their Histolog™ Scanner. Additionally, BOM has invested in Hemics and Sirius Medical, further solidifying their commitment to advancing medical imaging technologies. Through these investments, BOM plays a crucial role in facilitating innovation and success in the medical imaging industry.


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 medical imaging sector, including a majority investment in Oldelft Ultrasound, a medical diagnostic company, and a co-lead investment in Onera Health, which raised over €30M to advance its polysomnography system. Additionally, Gimv has participated in funding rounds for companies like JenaValve Technology, which, while primarily focused on cardiovascular devices, also intersects with imaging technologies in the context of device approval and development. These transactions highlight Gimv's active role in the medical imaging industry, making them a relevant investor in this space.


9. Noshaq

  • Website: noshaq.be
  • Type: Venture Capital
  • Headquarters: Belgium
  • Founded year: 1985
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: noshaq-be

Noshaq is a venture capital investment fund based in Belgium, founded in 1985, that provides financial solutions and strategic support to small and medium-sized enterprises (SMEs) in the province of Liege. The firm focuses on funding, project structuring, and business development, particularly in sectors such as biotech and sustainable development. Noshaq aims to foster growth and innovation by actively engaging with its clients and offering tailored financial assistance. In recent years, Noshaq has been involved in several significant transactions in the medical imaging sector, including a Series B investment in SamanTree Medical, which raised $14 million in July 2024. They also participated in a funding round for Radiomics, which secured €6 million for projects including an imaging AI solution for lung cancer, highlighting their commitment to advancing medical imaging technologies. Furthermore, Noshaq's investment in Intressa Vascular, a clinical-stage MedTech company, underscores their involvement in the broader medical technology landscape.


10. NLC - The European Healthtech Venture Builder

  • Website: nlc.health
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: nlc-next-level-challenge

NLC - The European Healthtech Venture Builder is a corporate investor based in Amsterdam, Netherlands, founded in 2014. They specialize in developing medical technology solutions, particularly in neonatal care. Their investment strategy emphasizes collaboration with healthcare providers and investors to foster innovation in the healthcare sector. Notably, NLC has been involved in several transactions relevant to medical imaging, including their investment in Scinvivo, which raised €4.7M to enhance its catheter and OCT system, crucial for clinical imaging applications. Additionally, they have supported Kaminari Medical, which, while not explicitly focused on imaging, operates within the broader medical technology landscape. Their diverse portfolio reflects a commitment to advancing healthcare technologies, including those that intersect with medical imaging.


11. 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 private equity firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has a diverse investment portfolio, but it has made significant strides in the medical imaging sector. Notably, they acquired I-MED Network Radiology in 2006, a leading provider of radiology services, which underscores their commitment to the medical imaging field. In 2017, CVC, alongside Téthys Invest, acquired a majority stake in Sebia, a company that specializes in medical diagnostics, further highlighting their focus on healthcare. More recently, in 2022, CVC Capital Partners VIII invested in Spectrum Medical Group, a medical device company, valuing it at up to £1 billion. These transactions illustrate CVC's strategic investments in the medical imaging and healthcare sectors, reinforcing their role as a significant player in this industry.


12. Exor N.V.

  • Website: exor.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 26
  • LinkedIn: exor_2

Exor N.V. is a holding company based in Amsterdam, Netherlands, founded in 2009. It operates across various sectors, including automotive, healthcare, and media, and manages a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Exor focuses on enhancing value through strategic investments and operational support. Notably, Exor has participated in significant funding rounds in the healthcare sector, including a Series A investment in Kheiron Medical Technologies, which raised $22 million to conduct large-scale clinical trials of its medical imaging technology. Additionally, Exor has been involved in other healthcare-related investments, such as Tracer Biotechnologies and Allotex, indicating a broader commitment to supporting innovative healthcare solutions.


13. Vesalius Biocapital Arkiv


Vesalius Biocapital Partners Sàrl is a venture capital firm based in Woluwe-Saint-Pierre, Brussels, Belgium, founded in 2007. The firm specializes in providing funding and strategic support to innovative life science companies across Europe, focusing on therapeutics, medical devices, and diagnostics. Notably, Vesalius Biocapital has participated in significant transactions within the medical imaging context, such as their co-lead investment in Exact Imaging, which raised $21.5 million in a Series C round aimed at enhancing imaging technologies. They also invested in inHEART, which, while primarily focused on cardiac procedures, contributes to the broader diagnostic landscape. Their involvement in Humedics, which is developing proprietary imaging solutions, further emphasizes their commitment to the medical imaging sector. Overall, Vesalius Biocapital's diverse portfolio and strategic investments position them as a relevant player in the medical imaging industry.


14. Thuja Capital

  • Website: thujacapital.com
  • Type: Venture Capital
  • Headquarters: Utrecht, Utrecht, Netherlands
  • Founded year: 2006
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: thuja-capital

Thuja Capital Management BV is a venture capital firm based in Utrecht, Netherlands, founded in 2006. The firm specializes in healthcare investments, focusing on supporting innovative healthcare ventures from start-up to scale-up. Thuja Capital provides funding and strategic guidance to companies in the biotech and medtech sectors. Notably, they have been involved in several transactions relevant to medical imaging, including a recent investment in Gradient Denervation Technologies, which raised €14m in a Series A financing round to support the development of an ultrasound-based catheter device. Additionally, their past involvement with MILabs, a company known for its imaging technologies, highlights their commitment to advancing medical imaging solutions. Their portfolio primarily consists of healthcare startups seeking investment to develop novel therapies and medical technologies.


15. 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, specializing in investments in global B2B companies. With €22 billion in assets under management, Astorg provides 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 healthcare sector, including the acquisition of Echosens, a company focused on non-invasive liver disease diagnosis, which highlights their engagement in medical imaging. Additionally, they have been involved in transactions such as the acquisition of Hamilton Thorne, further emphasizing their commitment to healthcare technology. Their disciplined investment process and strong partnerships with entrepreneurs position them as a key player in the healthcare investment landscape.


16. 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. Capricorn Partners is committed to responsible investing, aiming to create both financial returns and strategic value for its clients. Notably, they have invested in icometrix, a company that raised $18 million to develop its medical imaging technology, and FEops, which raised €6 million for personalized computer modeling in structural heart interventions. These transactions highlight their active role in the medical imaging industry, reinforcing their relevance as an investor in this space.


17. 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 such as real estate, clean tech, and life sciences. PMV also offers consulting services to help businesses navigate investment challenges and achieve sustainable growth. In the medical imaging context, PMV has participated in significant funding rounds, including a $21.5 million Series C round for Exact Imaging, a company specializing in advanced imaging technologies, and a €6 million Series B round for FEops, which focuses on personalized computer modeling for structural heart interventions. Additionally, PMV has invested in Pulsify Medical, which is involved in medical technology, and Minze Health, which develops digital health solutions. These transactions highlight PMV's active role in the medical imaging and health technology sectors.


18. 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 laboratory testing company based in Luxembourg, founded in 1987. With a workforce of over 10,000 employees and a global presence, Eurofins operates more than 900 laboratories across 62 countries. The company specializes in a wide range of analytical and testing services across various industries, including pharmaceuticals, food, and environmental sectors. Eurofins has made significant strides in the diagnostics field through strategic acquisitions. Notably, they acquired Biomnis S.A., a specialty diagnostics services provider, in 2015, enhancing their capabilities in clinical diagnostics. In 2021, they acquired Genetic Lab, which focuses on molecular biology-based testing for diagnostics, biomarker development, and drug discovery, further expanding their diagnostic services. Additionally, the acquisition of Genoma Group in 2017, known for its innovative diagnostic tests in oncology and non-invasive prenatal testing, underscores Eurofins' commitment to advancing diagnostic testing, which is closely related to medical imaging. These transactions highlight Eurofins' active role in the diagnostics market, making them a relevant investor in the medical imaging sector.



Medical Imaging Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
European Investment Bank (EIB)Luxembourg1001-5000195899
Life Sciences Partners (LSP)Amsterdam, North Holland, Netherlands11-50198715
ForbionNaarden, North Holland, Netherlands11-50200623
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
M VenturesAmsterdam, North Holland, Netherlands11-50200918
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
GimvAntwerp, Flanders, Belgium51-20019808
NoshaqBelgium11-50198511
NLC - The European Healthtech Venture BuilderAmsterdam, North Holland, Netherlands51-20020146
CvcLuxembourg1001-5000200516
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
Vesalius Biocapital ArkivWoluwe-Saint-Pierre, Brussels, Belgium1-1020078
Thuja CapitalUtrecht, Utrecht, Netherlands1-1020063
AstorgLuxembourg51-20019988
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
PmvBrussels, Brussels, Belgium51-200200111
EurofinsLuxembourg10001+19878


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