The nutritional supplement industry in Benelux is thriving, fueled by increased consumer demand for health and wellness products. Companies range from established players to innovative startups, specializing in vitamins, minerals, protein powders, and functional foods. With a growing interest in personalized nutrition and clean-label products, there is a noticeable shift towards transparency and sustainability in this space. Nutraceuticals, blending nutrition with pharmaceuticals, are becoming increasingly popular, while plant-based supplements are on the rise. This vibrant industry is set for continued growth as consumers prioritize their health and well-being in a post-pandemic world.


The investors in the Benelux nutritional supplement sector represent a mix of corporate, private equity, and venture capital firms. Headquartered across Belgium, Luxembourg, and the Netherlands, these players range from large scale entities like the European Investment Bank to nimble startups like V3 Ventures. Founded from the late 20th to early 21st century, their sizes vary, offering a unique mix of expertise and financial clout. In 2024, these investors made significant moves, with some firms engaging in over 50 deals. This dynamic environment is set for continued activity as health trends evolve.


Top 19 Nutritional Supplement Investors in Benelux


1. 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, operating in the nutrition, health, and beauty sectors. The company offers a wide range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients. As a venture capital investor, dsm-firmenich has been actively involved in the nutritional supplement industry through its investment arm, DSM Venturing. Notable transactions include a Series A investment in Momentous, a human performance company, which raised $6.5 million to support new product launches and technology developments. Additionally, they co-led a Series A investment in VitaminLab, aimed at expanding facilities and market activities. Their investment in EyePromise, which raised $3 million, further highlights their focus on nutritional supplements. Overall, dsm-firmenich is committed to providing innovative solutions in the nutrition sector, making them a relevant player in the nutritional supplement investment landscape.


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 in multiple sectors. Notably, the EIC has been involved in several transactions relevant to the nutritional supplement industry, such as Vésale Pharma, which raised over $1.9 million in a grant in December 2022, and S-Biomedic, which received both a venture round and a grant totaling over $1.4 million in October 2019. Additionally, the EIC supported Nemysis with over $2.7 million in March 2023 and Aviwell with an undisclosed amount in July 2023, further demonstrating its commitment to funding innovative companies in the health and nutrition space.


3. 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 leading 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 focuses on delivering sustainable value and growth through strategic investments. Notably, in January 2024, CVC made a significant investment in Sunday Natural, a leading brand for premium vitamins, minerals, and supplements, aiming to enhance the company's scaling and international reach. This transaction highlights CVC's commitment to the nutritional supplement industry, alongside their broader investment strategy that includes various sectors such as retail and healthcare.


4. PeakBridge


PeakBridge VC is a venture capital firm based in Luxembourg, founded in 2018, that specializes in FoodTech investments. The firm supports early-stage founders and businesses in the food industry by providing investment, consulting services, and access to a vast network of industry experts. Their focus is on innovative solutions that address significant challenges in the global food system, making them a key player in the FoodTech sector. Notably, PeakBridge has been involved in several relevant transactions, including iwi Life, which raised $10 million in Series A funding for its plant-based omega-3 supplements, and Enhanced Medical Nutrition, which raised $5 million in Series A funding, directly related to nutritional products. Additionally, they invested in Prenexus Health and CarobWay, both of which have implications in the nutritional supplement space, further solidifying their relevance in this industry.


5. 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, the EIB aims to promote growth and job creation by funding initiatives from both public and private organizations. Among its notable transactions, the EIB has invested in companies relevant to the nutritional supplement industry, such as Devenish Nutrition, which received €40 million to develop a Global Innovation Centre focused on optimized animal nutrition and food innovation. Additionally, the EIB's investment in Nuritas, a biotech company, highlights its engagement in the health and nutrition space, further solidifying its role as a supporter of nutritional supplement-related initiatives.


6. Verlinvest

  • Website: verlinvest.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: verlinvest

Verlinvest is a venture capital firm based in Brussels, Belgium, founded in 1995. The firm specializes in high-growth consumer brands across various sectors, including food, beverage, health, and technology. Verlinvest provides long-term capital and strategic advisory services to help brands scale and innovate. Their portfolio includes a diverse range of companies that prioritize consumer needs and sustainable practices. Notably, Verlinvest has made significant investments in the nutritional supplement space, including Sambazon, which focuses on premium acai products, and Genexa, a clean pharmaceutical company. These investments reflect Verlinvest's commitment to supporting health-oriented brands and their growth in the market. Additionally, their involvement with Cuure, a health-focused company, further emphasizes their interest in the nutritional supplement sector.


7. 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 venture capital investment company based in Brussels, Belgium, founded in 1898. It specializes in providing patient capital to growing businesses across various sectors, including telecommunications, consumer goods, and energy. Sofina 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 nutritional supplement space, including a $25 million investment in HealthKart, which aims to expand its omnichannel nutrition platform and launch new D2C nutrition brands. Additionally, Sofina invested in The Whole Truth, a company focused on providing clean and healthy nutrition products. These transactions highlight Sofina's active role in the nutritional supplement industry, demonstrating its commitment to supporting innovative companies in this sector.


8. EIT Food

  • Website: eitfood.eu
  • Type: Corporate
  • Headquarters: Leuven, Flanders, Belgium
  • Founded year: 2016
  • Headcount: 51-200
  • Number of deals in 2024: 37
  • LinkedIn: eit-food

EIT Food is a not-for-profit organization founded in 2016, based in Leuven, Flanders, Belgium. It is dedicated to transforming the food system through innovation, education, and entrepreneurship. EIT Food supports agrifood startups and entrepreneurs by providing resources, funding opportunities, and educational programs aimed at creating healthier and sustainable food solutions. Among their notable transactions, Epinutra raised $252,354 in a seed round, indicating a focus on nutritional innovations. Additionally, they have engaged in various grants, such as those for Quest Meat and Kokomodo, which may also relate to nutritional advancements. Their initiatives engage various stakeholders, including businesses and the public, to foster collaboration and drive change in the food sector, making them a relevant player in the nutritional supplement industry.


9. Nutreco

  • Website: nutreco.com
  • Type: Corporate
  • Headquarters: Amersfoort, Utrecht, Netherlands
  • Founded year: 1994
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: nutreco

Nutreco is a leading corporate investor in the animal nutrition sector, founded in 1994 and based in Amersfoort, Utrecht, Netherlands. With over 10,000 employees, Nutreco specializes in providing innovative feed solutions for livestock and aquaculture, focusing on sustainable practices to meet the growing global demand for food. Notably, Nutreco has made several strategic acquisitions to enhance its position in the nutritional supplement market for animals. These include the acquisition of Bellman Nutriçao Animal Ltda. in 2012, a Brazilian company specializing in farm minerals and supplements for ruminants, and the acquisition of Nutrimin in 2021, a Danish company that likely contributes to their nutritional offerings. Additionally, their acquisition of Animal Nutrition and Health (ANH) in South Africa in 2019 further demonstrates their commitment to expanding their nutritional supplement portfolio in various regions. Through these transactions, Nutreco has established itself as a key player in the animal nutrition and supplement industry.


10. 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 specializes in the agrifood tech sector. They are dedicated to supporting innovative companies that aim to create sustainable food systems through strategic guidance and investment. Astanor's portfolio includes notable transactions in the nutritional supplement context, such as 'Heali AI', which raised $3 million to expand its digital food as medicine platform, providing medically tailored meal suggestions. Additionally, they invested in 'Digestiva', which raised $18.4 million in Series A funding, indicating a strong focus on nutritional products. Their commitment to sustainability and health-oriented innovations positions them as a significant player in the nutritional supplement industry.


11. 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 specialty chemical distributor and innovation service provider based in Antwerp, Belgium, founded in 2001. The company serves over 63,000 customers across various sectors, including life sciences and industrial markets. Azelis has been active in expanding its portfolio through strategic acquisitions, particularly in the food and health sectors. Notable transactions include the acquisition of Ingredi AB, which focuses on raw materials for the food and health industry, and Tunçkaya, a Turkish distributor of food ingredients and additives. These acquisitions enhance Azelis' capabilities in the nutritional supplement space, aligning with their mission to deliver high-quality raw materials and innovative formulations to meet specific market needs.


12. V3 Ventures

  • Website: v3.ventures
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2022
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: v3-venture

V3 Ventures is a venture capital firm based in Brussels, Belgium, founded in 2022. The firm specializes in investing in early-stage consumer businesses across various sectors, including wellness, food, and lifestyle. V3 Ventures aims to support founders by providing capital and strategic guidance to help them build strong brands and achieve growth. Notably, they have participated in several relevant transactions, such as their investment in Go Zero, a brand that offers zero sugar ice cream, which aligns with health and wellness trends. Additionally, their involvement in the fundraising rounds for companies like Cuure and KatKin showcases their interest in businesses that may intersect with nutritional health and wellness, further solidifying their relevance in the nutritional supplement space.


13. 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. Among their notable transactions, they invested in 'Easy Way to Health', which raised $23,055 in a Seed Round in 2018, indicating their interest in health-related ventures. Additionally, their investment in 'Todos Comemos', which raised $235,000 in a Pre-Seed Round in 2020, further highlights their engagement in sectors that may intersect with nutritional supplements. Overall, Rockstart's commitment to supporting purpose-driven entrepreneurs aligns with the growing demand for health and nutrition-focused innovations.


14. Anterra Capital

  • Website: anterracapital.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2013
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: anterra-capital

Anterra Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2013. The firm specializes in agrifood technology investments, focusing on startups that leverage biotechnology and digital solutions to enhance food production and sustainability. Anterra Capital operates primarily in North America and Europe, supporting innovative companies in the agrifood sector. Notably, they have been involved in significant transactions such as La Fourche, which raised substantial funding in 2024, indicating their active role in supporting food-related startups. Additionally, their investment in BiomEdit, a company involved in animal nutrition, highlights their engagement in sectors that intersect with nutritional supplements, particularly in the context of animal health and nutrition. This positions Anterra Capital as a relevant player in the nutritional supplement landscape, albeit indirectly.


15. Wessanen Benelux (B Corp)


Wessanen Benelux (B Corp) is a corporate investor based in Amsterdam, Netherlands, specializing in organic and plant-based food products. Founded in 1765, the company has a long history of promoting sustainability and biodiversity through its diverse range of offerings, which include dairy-free drinks, breakfast cereals, and vegetarian spreads. Wessanen has made several strategic acquisitions to strengthen its position in the organic food market, including the acquisition of Abbot Kinney's, a brand known for its organic almond and coconut yogurts and ice creams, which enhances its plant-based food offerings. Other notable transactions include the acquisition of Biogran, a leading organic food company in Spain, and Piramide tea, a prominent tea brand in the Netherlands. These transactions reflect Wessanen's commitment to health-conscious consumers and its strategy to lead in the organic food sector, making it a relevant player in the nutritional supplement space.


16. 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 aim to improve healthcare through innovative digital health solutions. Among their notable transactions, Healthy.Capital led a seed round investment in Clear, a Dutch startup that designs personalized nutrition, raising €780K in February 2020. This investment highlights their engagement in the nutritional supplement space. Additionally, they have invested in other health-related startups such as MiGuide and Homed-IQ, which focus on medical diagnostics and health management, further demonstrating their commitment to enhancing health through technology. Their portfolio reflects a blend of digital health and nutrition-focused ventures, making them a relevant player in the nutritional supplement industry.


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 that acts as an investment company for the Flemish government, founded in 2001. It 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. Among its notable transactions, PMV invested in Animab, which focuses on developing monoclonal antibodies for livestock health, indicating a commitment to improving animal nutrition and health. Additionally, PMV has been involved in funding rounds for Aphea.Bio, a company dedicated to creating sustainable agricultural products, which may also have implications for nutritional supplements in agriculture. These investments highlight PMV's engagement in sectors that intersect with nutritional health, making it a relevant player in this space.


18. Icos Capital


Icos Capital is a venture capital firm based in Rotterdam, South Holland, Netherlands, founded in 2005. The firm specializes in ClimateTech investments, partnering with startups and corporations to accelerate sustainability through innovative technologies. Their focus includes sectors such as Food Systems and Circular Economy, providing funding and strategic support to help clients achieve significant reductions in greenhouse gas emissions. Icos Capital has been involved in several relevant transactions in the nutritional supplement industry, including investments in BioActor, a health ingredients company that is launching products in the USA, and NutriLeads, which is developing health ingredients for commercialization. Additionally, their investment in WholeFiber highlights their engagement with companies that enhance food systems, further emphasizing their relevance in the nutritional supplement context.


19. 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 various sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Their clientele primarily consists of entrepreneurial companies seeking capital and expertise to navigate market challenges. Notably, Gimv has been involved in significant transactions such as the Series A, B, and C funding rounds for Ablynx, a company focused on developing Nanobody technology, which, while primarily biopharmaceutical, showcases Gimv's engagement in the healthcare sector. Additionally, their acquisition of a majority stake in France Thermes, a company involved in health and wellness, further highlights their interest in health-related investments, which could extend to nutritional supplements.



Nutritional Supplement Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
CvcLuxembourg1001-5000200516
PeakBridgeLuxembourg11-5020188
European Investment Bank (EIB)Luxembourg1001-5000195899
VerlinvestBrussels, Brussels, Belgium11-5019955
SofinaBrussels, Brussels, Belgium51-20018984
EIT FoodLeuven, Flanders, Belgium51-200201637
NutrecoAmersfoort, Utrecht, Netherlands10001+19941
AstanorLuxembourg11-50201710
AzelisAntwerp, Flanders, Belgium1001-500020015
V3 VenturesBrussels, Brussels, Belgium1-1020229
RockstartAmsterdam, North Holland, Netherlands11-50201116
Anterra CapitalAmsterdam, North Holland, Netherlands11-5020139
Wessanen Benelux (B Corp)Amsterdam, North Holland, Netherlands51-20017650
Healthy.CapitalAmsterdam, North Holland, Netherlands1-1020172
PmvBrussels, Brussels, Belgium51-200200111
Icos CapitalRotterdam, South Holland, Netherlands11-5020054
GimvAntwerp, Flanders, Belgium51-20019808


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