The satellite communication industry in Benelux is vibrant and innovative, encompassing companies that design, launch, and operate satellite systems for various applications. It includes telecom operators, satellite manufacturers, and service providers that cater to sectors like broadcasting, IoT, and disaster response. The region benefits from advancements in satellite technology, such as the rise of Low Earth Orbit (LEO) satellites aimed at providing global coverage. With an increased focus on sustainability and connectivity, satellite communications are pivotal in tackling challenges posed by remote communications and climate change, paving the way for future growth and collaboration across borders.


The investors in this list represent a mix of corporate and venture capital entities, predominantly headquartered in Luxembourg and Belgium, with a few in the Netherlands. Sizes vary from small teams to organizations with hundreds of employees, showcasing an array of expertise in finance and tech. Founded between the late 20th century to recent years, these investors collectively engaged in over 60 deals in 2024, reflecting a robust interest in advancing the satellite communication sector in the Benelux area.


Top 18 Satellite Communication Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. Founded in 1958, EIB serves both public and private organizations seeking funding for initiatives that promote growth and job creation. In the satellite communication context, EIB has been actively involved in financing key players in the industry. For instance, it provided $24 million in venture debt to Spire Global to support the development of a satellite constellation and new software applications. Additionally, EIB has financed GomSpace with up to EUR 18 million to enhance its nano-satellite platform, which is vital for high-frequency applications in telecommunications. Other notable transactions include debt financing for EnduroSat and Leaf Space, both of which are engaged in satellite technology. These investments highlight EIB's commitment to fostering innovation in the satellite communication sector.


2. 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 also provides business acceleration services, networking opportunities, and prizes to foster innovation across different sectors. Notably, the EIC has been involved in several transactions relevant to the satellite communication industry. For instance, it participated in funding NanoAvionics, which is working on the Global Internet of Things (GIoT) nano-satellite constellation, and supported Aldoria in its Series A funding round to expand its optical surveillance network. Additionally, the EIC has provided grants to companies like Infinite Orbits and Share My Space, further demonstrating its commitment to advancing satellite technology and services.


3. SES Satellites

  • Website: ses.com
  • Type: Corporate
  • Headquarters: Betzdorf, Grevenmacher, Luxembourg
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: ses

SES S.A. is a satellite telecommunications provider based in Betzdorf, Luxembourg, founded in 1985. The company offers a range of services including video broadcast and data connectivity solutions, serving various sectors such as broadcasting, government, and maritime. SES operates a fleet of over 70 satellites in geostationary and medium Earth orbits, ensuring global coverage for its customers. Notably, SES has been involved in significant transactions, including the acquisition of SES Networks for $730 million in 2016, which enhanced their capabilities in satellite networking. In 2024, SES announced its acquisition of U.S.-based Intelsat for $3.1 billion, a move that is set to create the world's largest satellite services provider, demonstrating their commitment to expanding their influence in the satellite communication industry. Additionally, SES has participated in various funding rounds for SES Networks, raising substantial amounts to support its growth and innovation in satellite services.


4. Boundary Holding


Boundary Holding is a venture capital firm based in Luxembourg, founded in 2016. The firm specializes in deep tech investments, focusing on technologies that enable the 4th industrial revolution. They provide funding and support to startups in the AI and technology sectors, helping them scale and innovate. Among their notable transactions, Boundary Holding invested in Astrocast, a satellite communication company, during its Series B funding round in February 2021. This investment highlights their engagement in the satellite communication industry, alongside other technology-focused investments such as Elistair and infiniDome, which, while not directly in satellite communications, are related to technology that can complement satellite operations. Their clientele primarily consists of businesses in the technology industry seeking investment and strategic guidance.


5. NewSpace Capital


NewSpace Capital is a private equity firm based in Luxembourg, founded in 2018, that specializes in growth investments in the space industry. The firm focuses on deep-tech companies that address global challenges, providing both investment management and strategic support. NewSpace Capital operates across various market segments, including Earth observation and telecommunications, catering primarily to businesses in the space technology sector. Notable transactions include their investment in ICEYE, which raised $87 million in a Series C round and is known for its satellite imaging capabilities. Additionally, they led a €26 million funding round for Cailabs, a company expanding its laser communications and optical ground station business, further emphasizing their commitment to satellite communication technologies. Other investments include ATLAS Space Operations and Simera Sense, both of which contribute to the broader space and telecommunications landscape.


6. OTB Ventures

  • Website: otb.vc
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: otb-ventures

OTB Ventures is a venture capital firm based in Amsterdam, Netherlands, founded in 2017. The firm specializes in early-stage investments in deep-tech startups across various sectors, including SpaceTech, AI, FinTech, and CyberSecurity. OTB Ventures has been actively involved in the satellite communication space, notably participating in multiple funding rounds for ICEYE, a leading SAR data provider. They contributed to ICEYE's Series B, C, and D funding rounds, which collectively raised significant capital to expand its satellite constellation and enhance its NatCat Insights and Solutions offerings. Additionally, OTB Ventures led a seed funding round for Kurs Orbital, an Italian spacetech startup, aimed at advancing their satellite technology. These transactions highlight OTB Ventures' commitment to supporting innovative companies in the satellite communication industry.


7. Eureka Network


Eureka Network is a not-for-profit organization based in Etterbeek, Brussels, Belgium, founded in 1985. It facilitates international cooperation in research and development (R&D) and innovation, offering various funding programs such as Eurostars and Globalstars to support small and medium-sized enterprises (SMEs), research organizations, and universities in their R&D projects. In recent years, Eureka has been involved in several transactions relevant to the satellite communication sector, including grants to companies like Addvalue Technologies, Alba Orbital, Sanzar Group, and SpaceChain. These companies are engaged in satellite technology and services, highlighting Eureka's commitment to fostering innovation in the satellite communication industry.


8. Cipio Partners

  • Website: cipiopartners.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2003
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: cipio-partners

Cipio Partners is a venture capital firm based in Luxembourg, founded in 2003, specializing in European growth capital and minority buyouts for technology companies. They provide financial support and strategic guidance to help businesses scale and prepare for liquidity events. Their focus is primarily on technology firms with proven business models and significant revenue, particularly in the software and B2B sectors. Notably, Cipio Partners has been involved in several funding rounds for BridgeWave Communications, a supplier of 4G millimeter wave backhaul solutions, which plays a crucial role in supporting mobile and LTE networks. Their investments in BridgeWave, including a $10.3 million financing round in 2012 and multiple earlier rounds, highlight their engagement in technology that intersects with satellite communication, particularly in enhancing network infrastructure.


9. Orbital Ventures

  • Website: orbital.vc
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2021
  • Headcount: 1-10

Orbital Ventures is a venture capital firm based in Luxembourg, founded in 2021. The firm specializes in logistics and technology solutions, providing services across various sectors including Global Logistics, Digital Solutions, Heavy Industries, and Financial Technology. Notably, Orbital Ventures has participated in significant funding rounds for satellite communication companies, including a $37 million Series B investment in ALL.SPACE and a £29.2 million investment in Isotropic Systems, which focuses on advanced satellite communication technologies. These transactions highlight Orbital Ventures' commitment to investing in innovative solutions within the satellite communication industry, alongside their broader investment strategy.


10. Adara Ventures

  • Website: adara.vc
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: adara-venture-partners

Adara Ventures is a venture capital firm based in Luxembourg, founded in 2005. The firm specializes in investing in early-stage technology companies across Europe, focusing on sectors such as cybersecurity, digital health, and data applications. Notably, Adara Ventures has made significant investments in companies related to satellite communication, including a recent investment in SatVu, which raised approximately $12.7 million in November 2024. Additionally, they have a history of investing in Cambridge Broadband Networks, which has raised substantial funds over the years, indicating a broader interest in technology that may intersect with satellite communications. This diverse investment portfolio showcases Adara Ventures' commitment to supporting visionary founders and innovative technologies, including those in the satellite communication space.


11. KPN Ventures

  • Website: kpnventures.com
  • Type: Venture Capital
  • Headquarters: Rotterdam, South Holland, Netherlands
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: kpn-ventures

KPN Ventures is a venture capital firm based in Rotterdam, South Holland, Netherlands, founded in 2015. The firm focuses on investing in innovative technology companies across various sectors, including Cloud Computing, Cyber Security, and Digital Healthcare. KPN Ventures provides capital, expertise, and networking opportunities to help early-stage companies grow and succeed in their respective markets. Notably, KPN Ventures has been involved in significant transactions such as Actility, which raised $75 million in Series D funding and is a leading provider of network solutions for the IoT market. This investment highlights KPN Ventures' interest in companies that may have applications in satellite communication, as IoT often relies on satellite technologies for connectivity. Additionally, KPN Ventures has invested in Cujo AI, an artificial intelligence company that could also have implications for network management in satellite communications. Overall, KPN Ventures' investment strategy and its connections to telecommunications suggest a relevant position in the satellite communication landscape.


12. 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. The firm specializes in providing financial solutions and strategic support to small and medium-sized enterprises (SMEs) in the province of Liege, with a focus on sectors such as biotech and sustainable development. In 2022, Noshaq participated in a Series B funding round for Aerospacelab, which raised €40 million to enhance satellite production capacity and develop multiple constellations for Earth monitoring. This investment highlights Noshaq's engagement in the satellite communication industry, showcasing its commitment to fostering growth and innovation in this sector alongside its broader investment strategy.


13. 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, particularly focusing on healthcare, life sciences, and advanced technology. M Ventures collaborates closely with entrepreneurs to drive innovation and growth in their portfolio companies. Notably, M Ventures participated in the Series A funding round for ALCAN Systems, a German startup developing next-generation smart antennas, which are essential for satellite communication. This investment highlights M Ventures' engagement in the satellite communication industry, alongside its other investments in companies like Polaris Electro-Optics and Quintessent, which, while not directly in satellite communications, indicate a broader interest in advanced technology sectors that may intersect with satellite applications.


14. 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. Their commitment to responsible investing aims to create both financial returns and strategic value for their clients. Notably, Capricorn Partners has been involved in significant transactions such as their investment in SpaceX, which raised $1 billion in funding to advance research in space transport, reusability, and satellite manufacturing. This investment highlights their engagement in the satellite communication sector, despite their broader focus on other industries. Additionally, they have participated in funding rounds for companies like Innovium and CoreOptics, which, while not directly related to satellite communication, showcase their active role in technology-driven investments.


15. Sofina

  • Website: sofinagroup.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1898
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: sofina

Sofina is a Brussels-based investment company founded in 1898, specializing in providing patient capital to growing businesses across various sectors, including telecommunications, consumer goods, and energy. The firm partners with entrepreneurs and family-owned businesses, offering strategic advice and long-term investment solutions to foster sustainable growth. Notably, Sofina has made significant investments in the satellite communication sector, particularly through its involvement with SES Networks. In December 2015, Sofina participated in a Series H funding round for SES Networks, raising $460 million, and previously invested $12.75 million in a venture round in October 2012. These transactions highlight Sofina's commitment to supporting the growth of companies within the satellite communication industry.


16. Brabantse Ontwikkelings Maatschappij (BOM)


The Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital firm based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM acts as a development agency that supports startups and scale-ups in the Brabant region, offering various programs aimed at enhancing business growth, including readiness programs for venture capital and innovation in sustainable food and energy sectors. Notably, BOM has invested in companies like EFFECT Photonics, which raised funds in Series A rounds in 2015 and 2016, focusing on photonic technologies applicable in satellite communications. Additionally, BOM's recent investment in Antennex, which raised $1,622,990 in a Seed Round in 2024, further highlights their engagement in the satellite communication space. These transactions demonstrate BOM's commitment to fostering innovation in technology sectors, including satellite communications.


17. Expon Capital

  • Website: exponcapital.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: exponcapital

Expon Capital is a venture capital firm based in Luxembourg, founded in 2015. The firm specializes in seed and scale-up funding for technology-driven startups and growth companies, with a strong emphasis on social impact and the development of the Luxembourg startup ecosystem. Notably, Expon Capital has participated in funding rounds for companies in the satellite communication sector, including Spire Global, which focuses on space-based data and analytics, and Hydrosat, which is involved in satellite-powered data solutions. Their investments in these companies highlight their engagement in the satellite communication industry, alongside their broader investment strategy aimed at addressing significant global challenges.


18. BIO - the Belgian Investment Company for Developing Countries


The Belgian Investment Company for Developing Countries (BIO) is a not-for-profit organization established in 2001, based in Brussels, Belgium. BIO focuses on providing investment support and development financing to private sector companies in developing countries, aiming to empower these businesses to thrive and contribute to their local economies. Among its notable transactions, BIO participated in the financing of TowerCo of Africa, which raised $40 million to install 506 new telecom towers in rural Uganda, facilitating access to 4G and 5G data services. This investment is expected to significantly enhance connectivity in rural areas, promoting mobile money solutions and creating job opportunities. Additionally, BIO was involved in the debt financing of Irrawaddy Green Towers, which further underscores its commitment to improving telecommunications infrastructure in developing regions. These transactions highlight BIO's role in supporting projects that are integral to the satellite communication ecosystem.



Satellite Communication Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
SES SatellitesBetzdorf, Grevenmacher, Luxembourg1001-500019852
Boundary HoldingLuxembourg11-5020160
NewSpace CapitalLuxembourg11-5020183
OTB VenturesAmsterdam, North Holland, Netherlands11-5020176
Eureka NetworkEtterbeek, Brussels, Belgium11-5019851
Cipio PartnersLuxembourg11-5020032
Orbital VenturesLuxembourg1-1020210
Adara VenturesLuxembourg11-5020055
KPN VenturesRotterdam, South Holland, Netherlands1-1020153
NoshaqBelgium11-50198511
M VenturesAmsterdam, North Holland, Netherlands11-50200918
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
SofinaBrussels, Brussels, Belgium51-20018984
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
Expon CapitalLuxembourg1-1020152
BIO - the Belgian Investment Company for Developing CountriesBrussels, Brussels, Belgium51-20020014


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