A closer look at venture capital in the Netherlands
In this post, we’re exploring the Dutch VC ecosystem more specifically. Home to nearly 17.5 million people, the northwestern European country is known for its tulips, canals and bicycling routes. The Netherlands also represents an important piece of the continent’s private market puzzle. Here, we look at top Dutch VC firms by AUM and deals by deal size from 2020 to present.
Note that clicking on a company or investor name in the lists below will take you to a PitchBook profile preview. Our profile previews provide a cursory sense of the types of robust data PitchBook clients can access with their subscription.
Top 5 Dutch VC firms by assets under management*
*According to PitchBook data as of August 26, 2021; data is subject to change frequently
Life Sciences Partners
- AUM: €200B
- Total investments: 193
- Year founded: 1988
Amsterdam’s Life Sciences Partners is a venture capital firm that invests in pharmaceuticals, biotech and life sciences across Europe and the US. With an active investment portfolio of 46 companies, the firm most recently invested in Cardior, a German biopharmaceutical platform, and US-based developer of a presbyopia-correcting eye drop Visus Therapeutics.
FORBION
- AUM: €1.8B
- Total investments: 152
- Year founded: 2006
Headquartered in Naarden, FORBION is a VC firm that works closely with entrepreneurs to build life sciences companies with technologies and products designed to transform peoples’ lives. With €852.15M in dry powder, the firm—which also operates a joint-venture with BioGeneration Ventures—is actively seeking new investments. Most recently, FORBION invested alongside five others in the United Kingdom’s NeRRe Therapeutics, which develops neurotoxin receptor antagonists used to treat neuronal hypersensitivity.
Gilde Healthcare Partners
- AUM: €1.27B
- Total investments: 133
- Year founded: 1982
Utrecht’s Gilde Healthcare Partners is a specialized healthcare investor that focuses on two fund strategies, growth and venture, as well as private equity. The firm’s venture and growth capital fund invests in innovative, fast-growing North American and European health tech and therapeutics startups committed to delivering better care at a lower cost. In July, Gilde participated in a late-stage VC funding round for US-based Spire Health, a company that develops fitness sensors.
Van Herk Groep
- AUM: €1.27B
- Total investments: 44
- Year founded: 1951
Rotterdam-based Van Herk Groep is an investment firm that works primarily across the real estate, construction, project development, biotech and life sciences sectors with a primary focus on companies located in the Netherlands. With 15 companies in its active portfolio, the firm has recently invested in Stockholm’s Immunicum and SciBase, as well as Rotterdam’s PanCancer T.
Prime Ventures
- AUM: €700M
- Total investments: 95
- Year founded: 1999
Headquartered in Amsterdam, Prime Ventures is a venture capital and growth equity investment firm with €92.02M in dry powder and an active portfolio of 24. The firm focuses on European companies that span the consumer internet, e-commerce, digital media, software and clean tech sectors—among others. Prime Ventures’ recently invested in Munich’s Holidu, a travel search engine, and Amsterdam-based Orderchamp, a B2B marketplace.
Top 5 VC deals done by Dutch VC firms by deal size (2020-present)*
*According to PitchBook data as of August 26, 2021; data is subject to change frequently
Swiggy
- Deal size: €1.05B
- Deal date: April 2021
- Number of investors: 13
Bangalore, India-based Swiggy offers an online food ordering platform that helps users order and track food from their favorite restaurants nearby. Founded in 2013, the foodtech startup employs nearly 14,000 people across seven offices and has a post valuation of €3.31B.
The company raised €1.05B of Series J venture funding in April 2021 in a deal led by Hoofddorp, Netherlands-based Prosus Ventures, Amsterdam’s MIH India Food Holdings and SoftBank Group. Ten additional investors participated in the round.
SoFi
- Deal size: €807.78M
- Deal date: May 2020
- Number of investors: 11
Founded in 2011 and based in San Francisco, SoFi is a publicly held financial services company that was initially known for its student loan refinancing offerings. Since then, the company has expanded its product offerings to include personal loans, credit card, mortgages, investment accounts, banking services and financial planning.
In May 2021, the company was acquired by Social Capital Hedosophia Holdings V through a reverse merger, which resulted in a combined entity trading on the Nasdaq Stock Exchange under the ticker symbol SOFI. Prior to that, in an earlier funding round in May 2020, the company raised a round of late-stage VC funding from 11 investors, including Bussum, Netherlands’ Velocity Capital Fintech Ventures.
EQRx
- Deal size: €467.44M
- Deal date: January 2021
- Number of investors: 15
EQRx is a biotechnology and drug discovery company that makes affordable medicines. The startup gathers a wide range of medicines across disease areas, brings late-stage cancer drugs to the market and creates less expensive therapy combinations—giving patients more low-cost treatment options.
In August 2021, the company reached an agreement to acquire CM Life Sciences III through a reverse merger. Prior to that, in an earlier funding round in January 2021, EQRx raised an early-stage, Series B funding from 15 investors, including Amsterdam-based EXOR Seeds—a VC firm that has made 41 investments since it was founded in 2018.
PharmEasy
- Deal size: €295.14M, €417.77
- Deal date: April 2021, July 2021
- Number of investors: 10, 10
Headquartered in Mumbai, India, PharmEasy operates an online drug delivery platform intended to improve the pharmaceuticals supply chain by digitizing the process. The company’s app sells medicines and healthcare products, as well as helps connect local pharmacies and diagnostic centers to fulfill extensive medical needs—enabling patience to receive healthcare services that are available, affordable accessible.
Among other recent rounds, PharmEasy raised large Series E and F funding rounds in April and July 2021. Dutch VC firm Prosus Ventures participated in both rounds.
LIVEKINDLY
- Deal size: €284.97M
- Deal date: October 2020
- Number of investors: 11
Los Angeles-based LIVEKINDLY is a foodtech startup that makes plant-based food products, specializing in plant-based chicken. Partnering with forward-looking poultry production companies for the same, LIVEKINDLY enables greater access to sustainable, vegan food products.
Through a combination of Series B1-A, B1-B and Series B2, the startup raised €284.97M in October 2020. The deal was led by Trustbridge Partners, Blue Horizon Ventures and The Rise Fund, and Utrecht’s Rabo Investments—a VC, PE and growth equity firm—also participated.
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