Key Takeaways:
- VIVES IUF secures a remarkable €70 million in equity, demonstrating strong investor confidence.
- Partnership with the European Investment Fund crucial to securing additional €38 million.
- Focus on creating and supporting science-based ventures, with plans to establish ten new start-ups.
A Milestone in Innovation Financing
In a groundbreaking development in the world of science and entrepreneurship, VIVES IUF, a leading European high-tech early-stage fund, has announced the successful raising of an impressive €38M ($41.3M) in capital. This funding surge has catapulted the total equity of VIVES IUF to a staggering €70M ($76M). The European Investment Fund (EIF) has played a pivotal role in this achievement, contributing a substantial €25M ($27.2M), alongside various eminent current and new investors.
The EIF: A Key Contributor to Success
The EIF’s involvement is not new to VIVES, as it has been a significant shareholder in both VIVES I and VIVES II. Their commitment has been instrumental in the successful second closing of VIVES IUF, enabling an increased funding capacity of €38M. This financial impetus is earmarked for the creation of ten new science-based ventures and to bolster the growth of ten existing portfolio companies.
Philippe Durieux’s Vision for VIVES IUF
Philippe Durieux, the CEO of VIVES, expressed his satisfaction with the smooth progression of this new funding phase, thanks to the close collaboration with the EIF. He anticipates an additional boost, aiming to reach a total of €75M through a final closing in the first quarter of 2024. This vision underlines a strategic approach to nurturing and advancing scientific innovation through targeted investment.
Leveraging Academic Partnerships for Technological Advancements
VIVES IUF’s strategy revolves around its unique partnership with five top-tier European universities: UCLouvain (BE), KULeuven (BE), Université de Paris (FR), Wageningen Universiteit (NL), and Université du Luxembourg (LU). These collaborations provide a fertile ground for academic research and innovative projects, bridging the gap between academia and the commercial market. Furthermore, VIVES IUF has access to an extensive pipeline of high-tech start-ups, positioning it as a key player in the technology transfer landscape.
Investment Focus and Geographic Reach
With the fresh infusion of funds, VIVES IUF is poised to invest up to €7M ($7.6M) per portfolio company. These investments span various stages, from pre-seed to Series B, and focus on sectors including human health (inclusive of medtech and nutrition), agtech, and engineering (including aerospace). While primarily active in Belgium and its neighboring countries, VIVES IUF’s impact resonates across the European start-up ecosystem.
The Transformative Impact of VIVES IUF
VIVES IUF, initiated by UCLouvain, has been a cornerstone in connecting academic research with public and private investment. By addressing the seed funding gap, it has played a crucial role in transforming nascent academic research and start-ups into scalable, high-impact ventures. The success of VIVES II’s portfolio companies, which raised approximately €1.5 billion ($1.6bn) in financing, stands as a testament to VIVES’ proficiency in nurturing early-stage companies towards significant growth milestones, including IPOs and Trade Sales.
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