The mental health services industry in Benelux is rapidly evolving to meet increasing demand for accessible care. It includes clinics, digital health platforms, and theranostic companies offering a range of services such as teletherapy, medication management, and wellness apps. Recent trends show a growing focus on integrating technology and mental health, particularly after the COVID-19 pandemic. This sector is poised for expansion, as more people prioritize mental well-being and seek innovative solutions for support. Investment in mental health startups is on the rise, reflecting a commitment to improving care and reshaping traditional treatment models.


The list of top mental health services investors in Benelux showcases a mix of venture capital firms and public entities, predominantly from Amsterdam and Brussels. These companies range in size, with most employing between 11 and 200 people. Founded from 1948 to 2020, their activity in 2024 saw notable deal counts, indicating strong investment interest. Firms like Gilde Healthcare and the European Innovation Council have keenly supported advances in mental health, demonstrating a shared commitment to innovation and growth in the sector.


Top 19 Mental Health Services Investors in Benelux


1. 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 focuses on innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notably, Gilde Healthcare has participated in significant funding rounds for Big Health, a company dedicated to developing digital therapeutics aimed at improving mental health. They were involved in both the Series B and Series C funding rounds for Big Health, which raised $39 million in June 2020 and $75 million in January 2022, respectively. This involvement highlights Gilde Healthcare's interest in supporting advancements in mental health services, alongside their broader healthcare investment strategy.


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. In recent years, the EIC has been involved in several transactions relevant to the mental health services sector. Notably, it provided grants to Brainhero, a company focused on mental health solutions, and NeuroKaire, which raised significant funding for its mental health-related initiatives. These investments highlight the EIC's commitment to fostering innovation in mental health services, alongside its broader mission to support diverse sectors.


3. 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. In the context of mental health services, Exor has made significant investments in companies like Serenis Health, which provides accessible mental health and psychotherapy services, and Matter Neuroscience, which conducts research on happiness and mental well-being. These transactions highlight Exor's active role in the mental health services industry, alongside its broader investment strategy.


4. Healthy.Capital

  • Website: healthy.capital
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2017
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: healthydotcapital

Healthy.Capital is a venture capital firm based in Amsterdam, North Holland, Netherlands, founded in 2017. The firm specializes in investing in early-stage startups that focus on digital health solutions, aiming to enhance healthcare through innovative technologies. In 2024, Healthy.Capital has already made two investments, including VRelax, which raised over $1.3 million in a seed round, and Roott, a digital healthcare platform that secured €600K in a pre-seed round. Other notable investments include Nori Health and Clear, both of which are involved in the digital health space. These transactions indicate Healthy.Capital's commitment to supporting startups that may contribute to the mental health services sector, making them a relevant player in this field.


5. 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. EIB supports sustainable projects across various sectors, aiming to promote growth and job creation. In recent years, EIB has been involved in several transactions relevant to the mental health services context, such as providing debt financing to INBRAIN Neuroelectronics, which focuses on neurotechnology, and Sidekick Health, a digital health platform that supports mental health management. These investments highlight EIB's engagement in the mental health sector, although its overall investment strategy encompasses a wide array of industries.


6. 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. The firm 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 participated in a significant funding round for Engrail Therapeutics, which raised $157 million to advance its pipeline for neuropsychiatric and neurodevelopmental disorders. This involvement highlights Forbion's commitment to supporting innovative therapies in the mental health space. Additionally, their diverse portfolio includes investments in various biotech firms, showcasing their broad interest in life sciences.


7. Rockstart

  • Website: rockstart.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2011
  • Headcount: 11-50
  • Number of deals in 2024: 16
  • LinkedIn: rockstart

Rockstart is a startup accelerator and investment firm based in Amsterdam, Netherlands, founded in 2011. They empower early-stage founders across various sectors, including AgriFood, Energy, and Emerging Technology, by providing investment, mentorship, and networking opportunities to help startups scale and succeed. In the context of mental health services, Rockstart has made notable investments such as Medvice Digital Health, which raised $23,223 in a Pre-Seed round in September 2018, and SmartBridge Health, which secured funding in a Seed round in May 2017. Additionally, they invested in Fimo Health in June 2022, further emphasizing their engagement in the health sector. These transactions highlight Rockstart's commitment to supporting startups that contribute to health and wellness, including mental health services.


8. s16vc - Founders for Founders Fund

  • Website: s16vc.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2020
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: s16vc

s16vc - Founders for Founders Fund is a venture capital firm based in Amsterdam, North Holland, Netherlands, founded in 2020. The firm specializes in providing advisory services to businesses, emphasizing the importance of strategic guidance. In the realm of mental health services, s16vc has made notable investments, including Circles, which raised $8 million for online group support, and Paloma Health, which focuses on health services. Additionally, they participated in Awell Health, a digital health platform that aims to innovate and expand in the health sector. These transactions highlight s16vc's engagement in the mental health services industry, making them a relevant player in this field.


9. Holland Capital

  • Website: hollandcapital.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1981
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: holland-venture

Holland Capital is a venture capital and private equity firm based in Amsterdam, Netherlands, founded in 1981. The firm specializes in providing growth financing and buy-out capital to small and medium-sized enterprises across various sectors, including technology, healthcare, and agrifood. With over 40 years of experience, Holland Capital actively supports its portfolio companies to achieve optimal growth. Notably, Holland Capital has made investments in companies relevant to mental health services, such as Karify, which raised funds in both Seed and Series A rounds in 2014 and 2015, respectively. Karify focuses on digital solutions for mental health, showcasing Holland Capital's commitment to supporting innovations in this critical area of healthcare. Other investments in healthcare-related companies, such as Zorgverlening PGZ, Opdidakt, and Highcare, further emphasize their engagement in the healthcare sector, although the specific focus on mental health services is primarily highlighted through their investment in Karify.


10. 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 focus on healthcare and life sciences. M Ventures provides funding and strategic guidance to startups, helping them achieve commercial success. Among their notable investments, M Ventures has participated in funding rounds for Akili Interactive Labs, a company that develops prescription digital medicine aimed at treating pediatric ADHD, raising significant amounts in Series C and D rounds. They also led a Series A financing round for Sonde Health, an AI-enabled voice technology platform that aims to enhance health monitoring capabilities, which could have implications for mental health assessments. These transactions highlight M Ventures' commitment to supporting innovative solutions in the healthcare sector, including mental health services.


11. Noaber

  • Website: noaber.com
  • Type: Corporate
  • Headquarters: Ede, Gelderland, Netherlands
  • Founded year: 2000
  • Headcount: 11-50
  • LinkedIn: noaber-foundation

Noaber Foundation is a not-for-profit organization based in Ede, Gelderland, Netherlands, founded in 2000. It focuses on driving change and improving health outcomes through various health improvement programs and social initiatives. The foundation collaborates with healthcare organizations and communities to promote healthier lifestyles and enhance social health. Notably, Noaber has participated in funding rounds for startups like Sweetch, which raised $20 million in a Series A round aimed at developing behavioral science technology, indicating a commitment to innovations that can impact mental health. Other investments include Seed rounds for companies like Elsa, which also align with health improvement initiatives.


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 such as real estate, clean tech, and life sciences. PMV also offers consulting services to help businesses navigate investment challenges and achieve sustainable growth. Notably, PMV has been involved in several transactions relevant to mental health services, including investments in Neuroventis, which raised $1,190,140 in a Seed Round in March 2021, focusing on neurodegenerative diseases and mental health solutions. Additionally, PMV has invested in other health-related companies like reMYND, which raised $14,598,682 in a Series B round in January 2021, indicating its active role in supporting health innovations that may intersect with mental health services.


13. NPM Capital

  • Website: npm-capital.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1948
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: npm-capital

NPM Capital is a private equity investment firm based in Amsterdam, Netherlands, founded in 1948. The firm focuses on supporting medium-sized and large companies, particularly family-owned enterprises in the Benelux region. NPM Capital provides capital and strategic advisory services to help these businesses achieve growth and sustainability. The firm operates across various sectors, including technology and education, and emphasizes long-term partnerships with its portfolio companies. Notably, NPM Capital has made significant investments in the mental health services sector, including the acquisition of Mentaal Beter on January 21, 2014, which is a company dedicated to providing mental health services. Additionally, they acquired Dagelijks Leven on January 1, 2014, which may also be related to mental health services, further highlighting their involvement in this important sector.


14. Mangrove Capital Partners


Mangrove Capital Partners is a venture capital firm based in Luxembourg, founded in 2000, that specializes in early-stage investments in innovative technology companies. They provide financial support and strategic guidance to entrepreneurs, particularly in sectors like digital health and education tech. In 2024, they were involved in multiple funding rounds for K Health, an AI personalized care startup that has raised significant capital over the years, including $88.4 million in July 2024 and $59 million in July 2023. K Health's focus on personalized healthcare solutions aligns with the mental health services sector, showcasing Mangrove's commitment to investing in companies that can impact health and wellness. Their operations are primarily focused on Europe and Israel, where they actively seek to empower startups and foster growth in the tech ecosystem.


15. Sgh

  • Website: sghcapital.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: sghcapital

SGH Capital is a venture capital firm founded in 2015, based in Luxembourg, that specializes in investing in early and mid-stage disruptive companies across various sectors, including fintech and blockchain. They provide capital and strategic support to innovative businesses primarily in the US and western Europe, helping them to grow and succeed in competitive markets. Notably, SGH has invested in Maven Clinic, a telemedicine startup focused on women's health, which encompasses mental health services. They also invested in CareSkore, a company that provides healthcare analytics, which can be crucial for mental health service providers. These transactions highlight SGH's engagement in the healthcare sector, particularly in areas that can impact mental health services.


16. Market One Capital

  • Website: moc.vc
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: m1c

Market One Capital is a venture capital firm based in Luxembourg, founded in 2017. The firm specializes in investing in innovative startups across various sectors, including FinTech, HealthTech, and AgriTech. In the mental health services context, Market One Capital has been notably involved with Mindgram, a Warsaw-based company that offers an employee mental wellness app. They participated in multiple funding rounds for Mindgram, including a $2.72 million Series A round in February 2024 and a €7 million seed round in April 2022, demonstrating their strategic support for mental health initiatives. Additionally, they have invested in Jutro Medical, which, while not directly related to mental health services, showcases their broader interest in HealthTech.


17. 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. They are committed to responsible investing, aiming to create both financial returns and strategic value for their clients. Notably, Capricorn Partners has been involved in several transactions relevant to mental health services, such as leading a €10 million seed financing round for Neotiv GmbH, which is developing the neotivCare® app for early Alzheimer's detection. They also participated in a seed round for Noona Healthcare, a digital health startup that leverages artificial intelligence and predictive analytics, potentially impacting mental health care delivery. These investments highlight their interest in health technologies that can contribute to mental health services.


18. LUMO Labs

  • Website: lumolabs.io
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: lumo-labs

LUMO Labs is a venture capital firm based in Eindhoven, North Brabant, Netherlands, founded in 2016. The firm specializes in impact-driven investments in emerging technologies, providing funding and tailored support programs to early-stage startups that address social and environmental challenges. LUMO Labs has been involved in several transactions, including notable investments in Fimo Health, which focuses on health services, and Autoscriber, an AI-based voice recognition software aimed at improving medical consultations. These investments reflect LUMO Labs' commitment to fostering innovation in the technology sector, particularly in areas that can enhance mental health services and overall healthcare delivery.


19. Rubio Impact Ventures


Rubio Impact Ventures is a venture capital firm based in Amsterdam, Netherlands, founded in 2014. The firm specializes in impact investing, providing growth capital and strategic support to entrepreneurs who are focused on addressing significant social and environmental challenges. Their investment areas include clean energy, mental health, and education, emphasizing collaboration and partnership with their portfolio companies. Notably, Rubio Impact Ventures has invested in OpenUp, an online mental healthcare provider, which raised €15 million in a Series A funding round in October 2022. This investment highlights their active role in the mental health services sector. Additionally, they have invested in HealthSage AI, which raised funds in 2024, further indicating their engagement in health-related ventures.



Mental Health Services Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
Healthy.CapitalAmsterdam, North Holland, Netherlands1-1020172
European Investment Bank (EIB)Luxembourg1001-5000195899
ForbionNaarden, North Holland, Netherlands11-50200623
RockstartAmsterdam, North Holland, Netherlands11-50201116
s16vc - Founders for Founders FundAmsterdam, North Holland, Netherlands11-5020207
Holland CapitalAmsterdam, North Holland, Netherlands11-5019813
M VenturesAmsterdam, North Holland, Netherlands11-50200918
NoaberEde, Gelderland, Netherlands11-5020000
PmvBrussels, Brussels, Belgium51-200200111
NPM CapitalAmsterdam, North Holland, Netherlands11-5019481
Mangrove Capital PartnersLuxembourg11-5020005
SghLuxembourg1-1020153
Market One CapitalLuxembourg11-5020177
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
LUMO LabsEindhoven, North Brabant, Netherlands11-5020165
Rubio Impact VenturesAmsterdam, North Holland, Netherlands1-10201413


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