The semiconductor manufacturing industry in Benelux is vibrant and pivotal, encapsulating the creation and development of silicon chips used in electronic devices. A mix of startups, established firms, and major players create, test, and produce semiconductors to meet the demands of various sectors, including automotive, communications, and healthcare. As the industry evolves, an increasing focus on sustainable practices and innovative technologies such as photonics addresses the need for more efficient and powerful components. Furthermore, the growing emphasis on artificial intelligence and the Internet of Things signals strong future demand for semiconductor advancements in this region.


The list of investors in this article includes venture capital firms, private equity groups, and corporate entities situated across Benelux. Based predominantly in the Netherlands and Belgium, these investors range from smaller teams of around 10 individuals to large firms with thousands of employees. Many have been around since the late 20th century, with recent activity peaking in 2024, showcasing their commitment to the semiconductor sector. Notable investment firms like Invest-NL and BOM are actively supporting emerging and established companies alike, advancing innovations in semiconductor technology across the region.


Top 19 Semiconductor Manufacturing Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established 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 recent years, the EIB has been actively involved in the semiconductor manufacturing industry, participating in significant transactions such as NXP Semiconductors' post-IPO debt raise of over $1 billion in January 2025, and Siltronics' post-IPO debt raise of approximately $195 million in October 2022. Additionally, the EIB supported Canatu in a Series C funding round in July 2016 and SiPearl in a Series A funding round in April 2023, further demonstrating its commitment to fostering growth in the semiconductor sector. These investments highlight the EIB's role in promoting innovation and development within the semiconductor manufacturing landscape.


2. 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, focusing on startups in healthcare, life sciences, and advanced technology. M Ventures provides funding and strategic guidance to help these startups achieve commercial success. Among their notable transactions, M Ventures led a $20 million Series B funding round for Ferroelectric Memory GmbH, which is involved in memory technology, and participated in a seed funding round for NeoLogic, an Israeli company developing advanced chip technology with a focus on energy efficiency and performance. These investments highlight M Ventures' commitment to supporting innovation in the semiconductor manufacturing space, alongside their broader technology investment strategy.


3. Brabantse Ontwikkelings Maatschappij (BOM)


The Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital development agency based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM focuses on supporting startups and scale-ups in the Brabant region by providing funding, expertise, and networking opportunities to enhance business growth. Among their notable transactions, BOM has invested in several companies within the semiconductor manufacturing context, including SMART-Photonics, which raised $44,562,237 in debt financing in July 2023, and EFFECT Photonics, which received funding in multiple rounds (Series A in 2015 and 2016). These investments highlight BOM's commitment to fostering innovation in the semiconductor sector, alongside their broader mission to support various industries, including sustainable food and energy.


4. 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. Notably, Gimv has been involved in several transactions relevant to the semiconductor manufacturing industry, including a $16 million investment in Micron Technology during a Series C round in 2009, and multiple investments in VirtenSys, totaling $12 million in Series A and B rounds in 2006 and 2008, respectively. Additionally, they invested $7 million in CoWare during a Series F round in 2007 and $13 million in a Series E round in 2003. These transactions highlight Gimv's engagement with companies that are integral to the semiconductor ecosystem.


5. Innovation Industries


Innovation Industries is a venture capital firm based in Amsterdam, North Holland, Netherlands, founded in 2017. The firm specializes in deep tech investments, focusing on catalyzing growth in technology companies that can transform industries. They provide capital and support to startups across various sectors, including industrial tech, med tech, and food & agri tech. Notably, Innovation Industries has made significant investments in the semiconductor manufacturing context, including a $39.3 million Series C investment in SMART-Photonics in June 2020 and a $44.5 million debt financing round in July 2023. Additionally, they participated in a $147.2 million Series C funding for Nearfield Instruments in July 2024, further emphasizing their commitment to supporting companies that are integral to the semiconductor ecosystem. These transactions highlight their active role in the semiconductor manufacturing industry, making them a relevant investor in this space.


6. 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, Netherlands, founded in 2020. The firm focuses on financing sustainable and innovative projects, particularly in the energy and technology sectors. They mobilize capital from various sources to support entrepreneurs with promising plans for societal transitions. Notably, Invest-NL has been involved in several transactions relevant to the semiconductor manufacturing industry, including a €10.5M investment in Nearfield Instruments during its Series B funding round, which is a Dutch semiconductor metrology equipment company. They also participated in a Series C round for Nearfield Instruments, raising $147.2M, and have invested in LioniX International, which is involved in photonic integrated circuits, further emphasizing their commitment to supporting semiconductor-related innovations.


7. imec.xpand

  • Website: imecxpand.com
  • Type: Venture Capital
  • Headquarters: Leuven, Flanders, Belgium
  • Founded year: 2017
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: imec.xpand

imec.xpand is a venture capital fund based in Leuven, Flanders, Belgium, founded in 2017. The fund specializes in providing investment and operational support to early-stage deep tech companies, with a strong focus on the semiconductor and nanotechnology sectors. imec.xpand leverages imec's extensive expertise and infrastructure to help startups navigate their development and market challenges. Notable transactions include leading a $20 million Series B round for Ferroelectric Memory GmbH, which is involved in memory technology, and a €15 million Series B funding for Wise Integration, which supports semiconductor products. They also participated in funding rounds for Pharrowtech, a company developing RFICs for 5G applications, and MICLEDI Microdisplays, indicating their active engagement in the semiconductor manufacturing landscape.


8. 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. Notably, PMV has been involved in several significant transactions in the semiconductor manufacturing context, including a $25 million Series A investment in MICLEDI Microdisplays, a company developing microLED displays for augmented reality applications. Additionally, PMV participated in a seed funding round for MICLEDI Microdisplays, raising EUR 4.5 million, and has also invested in Swave Photonics, which raised over $27 million in a Series A round. These transactions highlight PMV's commitment to supporting innovation in the semiconductor sector, alongside its broader investment activities.


9. 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 significant transactions relevant to the semiconductor industry, such as their investment in Innovium, a leading network silicon company that achieved unicorn status. This investment highlights their engagement with companies that are pivotal in the semiconductor space. Additionally, their portfolio includes other technology-focused firms, indicating a broader interest in sectors that intersect with semiconductor manufacturing.


10. 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 focuses on creating long-term value through a disciplined investment process and strong partnerships with entrepreneurs. In 2024, they made headlines by acquiring a majority stake in Steliau Technology, a European leader in value-added distribution of electronic solutions, which is closely related to the semiconductor industry. This acquisition is part of their growth strategy and reflects their interest in sectors that intersect with technology. Additionally, Astorg has been involved in various other acquisitions, such as Metalor Technologies International SA and IGM Resins, which, while not directly in semiconductor manufacturing, showcase their active investment strategy in technology-related fields.


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 investment firm founded in 2005, 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. Notably, CVC has been involved in significant transactions within the semiconductor sector, including the acquisition of MagnaChip Semiconductor in 2004, which highlights their engagement in semiconductor manufacturing. Additionally, their strategy to expand into technology sectors, as seen in their negotiations to acquire Linxens, further emphasizes their interest in technology-related investments, including semiconductors.


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 multiple 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 semiconductor manufacturing context, Exor has made significant investments in companies like DustPhotonics, which raised $24 million in a Series B funding round to scale production of its high-speed data transmission products, and Quantum Machines, which secured $50 million in Series B funding to advance its quantum computing technologies. These transactions highlight Exor's commitment to supporting innovative technologies that are integral to the semiconductor industry.


13. PhotonDelta

  • Website: photondelta.com
  • Type: Corporate
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2018
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: photondelta

PhotonDelta is a corporate investor based in Eindhoven, North Brabant, Netherlands, founded in 2018. The company specializes in integrated photonics, focusing on the research, development, and manufacturing of photonic integrated circuits (PICs). PhotonDelta offers investment opportunities in this sector, catering to various industries such as healthcare, telecommunications, and agriculture, which seek advanced photonic solutions. Notably, PhotonDelta has been involved in significant transactions relevant to semiconductor manufacturing, including a €100 million funding round for SMART Photonics, a Dutch foundry for photonic integrated circuits, which included strategic players from the semiconductor industry like ASML and NXP. Additionally, they provided a loan agreement of €3.75 million to SMART Photonics to scale up production of PICs, and they participated in a funding round for LioniX International, further demonstrating their commitment to strengthening the integrated photonics ecosystem in the Netherlands.


14. VDL Groep

  • Website: vdlgroep.com
  • Type: Corporate
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 1953
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: vdl-groep

VDL Groep is a corporate investor based in Eindhoven, North Brabant, Netherlands, specializing in industrial manufacturing across multiple sectors, including transportation solutions, automation systems, and food processing equipment. Founded in 1953, the company has grown to employ over 10,000 people and has made significant strides in the semiconductor manufacturing context. Notably, VDL Groep completed the acquisition of Siemens Hengelo's operations, which includes development work for ASML, a leading semiconductor equipment manufacturer. This acquisition marks a strategic expansion into the semiconductor sector. Additionally, VDL Groep has acquired Rena Electronica, a company focused on the development and production of electronics, particularly for LED products, which aligns with semiconductor technology. These transactions highlight VDL Groep's commitment to enhancing its capabilities in high-quality electronics and semiconductor-related fields.


15. 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 primarily in the nutrition, health, and beauty sectors. The company offers a diverse range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients, serving various industries with innovative solutions. As an investor, dsm-firmenich, through its venture capital arm DSM Venturing, has shown interest in technology sectors that intersect with its core business. Notably, they led a Series A financing round for Leading Edge Equipment Technologies, which is focused on semiconductor manufacturing technology for solar panels. This investment highlights their engagement in the semiconductor space, alongside other transactions that reflect their commitment to advancing innovative technologies. Their participation in funding rounds for companies like QD Solar further emphasizes their strategic interest in technologies that may leverage semiconductor advancements.


16. 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 transactions relevant to the semiconductor manufacturing industry, including a Series B funding round for Silicon Mobility, a provider of semiconductor technology for smart mobility, where they led a $10M investment in 2018. Additionally, they have supported MicroOLED in multiple funding rounds, which focuses on developing OLED solutions and expanding manufacturing capabilities, further emphasizing their engagement in the semiconductor space.


17. Lrm

  • Website: lrm.be
  • Type: Venture Capital
  • Headquarters: Hasselt, Flanders, Belgium
  • Founded year: 1994
  • Headcount: 51-200
  • Number of deals in 2024: 1
  • LinkedIn: lrmnv

LRM (Limburgse Reconversie Maatschappij) is a venture capital investment company based in Hasselt, Flanders, Belgium, founded in 1994. The firm is dedicated to fostering sustainable economic growth in the Limburg region by providing financing and expertise to startups, scale-ups, and mature companies. LRM engages in various sectors, including real estate development and the reconversion of old mining sites, contributing to the local economic ecosystem. Notably, LRM has participated in significant funding rounds for companies in the semiconductor and related technology sectors. For instance, they were involved in a Series B funding round for Silicon Line, which raised €8.2 million to ramp up production and expand its design team, indicating a direct connection to semiconductor manufacturing. Additionally, LRM's investment in Solithor, a company focused on solid-state lithium-ion battery technology, highlights their interest in advanced manufacturing processes that may overlap with semiconductor technologies. These transactions demonstrate LRM's active role in supporting innovation within the semiconductor manufacturing landscape.


18. Qbic Fund | Venture Capital

  • Website: qbic.be
  • Type: Venture Capital
  • Headquarters: Ghent, Flanders, Belgium
  • Founded year: 2012
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: qbic

Qbic Fund | Venture Capital is a venture capital fund based in Ghent, Flanders, Belgium, founded in 2012. The fund specializes in seed and early-stage investments in innovative companies across various sectors, with a focus on creating impact by transforming technological breakthroughs into sustainable businesses. Qbic supports its portfolio companies throughout their growth, particularly in sectors such as biotechnology and technology. Notably, Qbic has invested in Swave Photonics, a company that raised significant funding in multiple rounds, including a Series A round of $27,733,581 in January 2025 and a Seed round expansion that raised €3 million in June 2023. These transactions highlight Qbic's engagement in the semiconductor manufacturing context, as Swave Photonics is involved in this industry. Additionally, Qbic has participated in funding rounds for other technology-focused companies, reinforcing its commitment to supporting innovative ventures.


19. NXP Semiconductors

  • Website: nxp.com
  • Type: Corporate
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2006
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: nxp-semiconductors

NXP Semiconductors N.V. is a prominent semiconductor manufacturer based in Eindhoven, North Brabant, Netherlands, founded in 2006. The company specializes in advanced semiconductor solutions for automotive, industrial, mobile, smart city, and smart home applications. NXP provides a diverse range of products, including microcontrollers and wireless connectivity solutions, enabling businesses to enhance their products with reliable and secure semiconductor technology. In recent transactions, NXP has demonstrated its active role in the semiconductor industry by acquiring Aviva Links for $242.5 million to bolster its automotive networking capabilities, particularly for software-defined vehicles. Additionally, NXP acquired Edge AI chip maker Kinara for $307 million, highlighting its focus on integrating cutting-edge technologies into its semiconductor offerings. These strategic moves underscore NXP's commitment to innovation and growth within the semiconductor manufacturing sector.



Semiconductor Manufacturing Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
M VenturesAmsterdam, North Holland, Netherlands11-50200918
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
GimvAntwerp, Flanders, Belgium51-20019808
Innovation IndustriesAmsterdam, North Holland, Netherlands11-50201710
Invest-NLAmsterdam, North Holland, Netherlands51-200202017
imec.xpandLeuven, Flanders, Belgium1-1020175
PmvBrussels, Brussels, Belgium51-200200111
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
AstorgLuxembourg51-20019988
CvcLuxembourg1001-5000200516
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
PhotonDeltaEindhoven, North Brabant, Netherlands11-5020181
VDL GroepEindhoven, North Brabant, Netherlands10001+19531
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
Cipio PartnersLuxembourg11-5020032
LrmHasselt, Flanders, Belgium51-20019941
Qbic Fund | Venture CapitalGhent, Flanders, Belgium1-1020125
NXP SemiconductorsEindhoven, North Brabant, Netherlands10001+20061


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