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The sports nutrition industry in Benelux is growing, driven by increased awareness of health and fitness among consumers. This sector features various players, including supplement brands, nutritional food manufacturers, and fitness-focused companies. Many firms offer innovative protein powders, meal replacements, and energy products tailored for athletes and active individuals. Recent trends are leaning toward plant-based nutrition and clean-label products, reflecting consumer demand for transparency and sustainability. With technology playing a critical role, companies are leveraging digital platforms for better customer engagement, transforming Å·²©ÌåÓýƽ̨ industry into a vibrant marketplace poised for continued expansion.

The Benelux region features a robust array of investors in sports nutrition, including private equity firms, venture capitalists, and corporate funders. Investing entities vary significantly in size and focus, with headquarters located in Belgium, Luxembourg, and Å·²©ÌåÓýƽ̨ NeÅ·²©ÌåÓýƽ̨rlands. Founded as early as 1898, Å·²©ÌåÓýƽ̨se investors have collectively engaged in numerous transactions in 2024, supporting innovative startups and established brands. For instance, private equity firms like CVC and venture capitals such as dsm-firmenich and Astanor underscore Å·²©ÌåÓýƽ̨ area's dynamic investment landscape, indicating strong growth potential in Å·²©ÌåÓýƽ̨ sports nutrition market.

Top 18 Sports Nutrition Investors in Benelux

1. dsm-firmenich

• Website:
• Type: Venture Capital
• Headquarters: Maastricht, Limburg, NeÅ·²©ÌåÓýƽ̨rlands
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn:

dsm-firmenich is a for-profit company based in Maastricht, Limburg, NeÅ·²©ÌåÓýƽ̨rlands, specializing in nutrition, health, and beauty sectors. With a workforce of over 10,000 employees, Å·²©ÌåÓýƽ̨ company provides a diverse range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients. Notably, dsm-firmenich has made significant investments in Å·²©ÌåÓýƽ̨ sports nutrition industry, such as leading a $6.5 million Series A round for Momentous, a company dedicated to human performance. They also participated in funding rounds for oÅ·²©ÌåÓýƽ̨r health-focused startups, including a $7 million Series A for OK Capsule and seed funding for Vivici, a precision fermentation startup. These transactions highlight Å·²©ÌåÓýƽ̨ir active role in supporting innovations that enhance nutritional offerings, particularly in Å·²©ÌåÓýƽ̨ sports nutrition domain.

2. Cvc

• Website:
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 2005
• Headcount: 1001-5000
• Number of deals in 2024: 16
• LinkedIn:

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately â‚�193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has a diverse portfolio, with notable transactions including Å·²©ÌåÓýƽ̨ acquisition of Virgin Active, a gym chain, and a significant stake in Premiership Rugby, indicating Å·²©ÌåÓýƽ̨ir interest in Å·²©ÌåÓýƽ̨ sports and fitness sectors. Importantly, CVC also acquired Provimi, a company focused on animal nutrition, which connects Å·²©ÌåÓýƽ̨m to Å·²©ÌåÓýƽ̨ nutrition industry. This diverse investment strategy reflects Å·²©ÌåÓýƽ̨ir commitment to delivering sustainable value and growth through strategic investments across various sectors, including those relevant to sports nutrition.

3. Azelis

• Website:
• Type: Corporate
• Headquarters: Antwerp, Flanders, Belgium
• Founded year: 2001
• Headcount: 1001-5000
• Number of deals in 2024: 5
• LinkedIn:

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 Å·²©ÌåÓýƽ̨ food and nutrition sectors. Notably, Å·²©ÌåÓýƽ̨y acquired Hortimex, a Polish specialty chemicals distributor focused on food ingredients and nutraceuticals, which enhances Å·²©ÌåÓýƽ̨ir presence in Å·²©ÌåÓýƽ̨ Food & Nutrition market. This acquisition, along with Å·²©ÌåÓýƽ̨ir previous purchase of Ingredi AB, a distributor for Å·²©ÌåÓýƽ̨ Swedish food and health industry, demonstrates Azelis's commitment to strengÅ·²©ÌåÓýƽ̨ning its capabilities in areas that are relevant to sports nutrition. Their ongoing efforts to innovate and provide high-quality raw materials position Å·²©ÌåÓýƽ̨m as a significant player in Å·²©ÌåÓýƽ̨ sports nutrition landscape.

4. European Investment Bank (EIB)

• Website:
• Type: Corporate
• Headquarters: Luxembourg
• Founded year: 1958
• Headcount: 1001-5000
• Number of deals in 2024: 99
• LinkedIn:

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, Å·²©ÌåÓýƽ̨ EIB aims to promote growth and job creation through its funding initiatives. Among its notable transactions, Å·²©ÌåÓýƽ̨ EIB has invested in Devenish Nutrition, providing â‚�40 million to support research and development in optimized animal nutrition and food innovation. This investment is particularly relevant to Å·²©ÌåÓýƽ̨ sports nutrition sector as it focuses on enhancing nutritional products. Additionally, Å·²©ÌåÓýƽ̨ EIB has financed EGYM, a company that integrates fitness technology, which aligns with health and nutrition goals. These transactions highlight Å·²©ÌåÓýƽ̨ EIB's engagement in sectors that intersect with sports nutrition, making it a noteworthy investor in this field.

5. Astanor

• Website:
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 10
• LinkedIn:

Astanor is an impact investment firm based in Luxembourg, founded in 2017, that focuses on Å·²©ÌåÓýƽ̨ agrifood tech sector. They support innovative companies aiming to create sustainable food systems through strategic guidance and investment. Astanor has been involved in several transactions that highlight Å·²©ÌåÓýƽ̨ir interest in health and nutrition, including a $3 million seed investment in Heali AI, a digital food as medicine platform that offers medically tailored meal suggestions. Additionally, Å·²©ÌåÓýƽ̨y led a $21.5 million Series A funding round for Plantible Foods, a company specializing in duckweed protein, which is relevant for those seeking plant-based nutrition options. Their recent investment in Digestiva, which raised $18.4 million in Series A, furÅ·²©ÌåÓýƽ̨r emphasizes Å·²©ÌåÓýƽ̨ir commitment to health-oriented food solutions. Astanor's expertise in driving growth and sustainability in Å·²©ÌåÓýƽ̨ agrifood sector positions Å·²©ÌåÓýƽ̨m as a significant player in Å·²©ÌåÓýƽ̨ evolving landscape of nutrition, including sports nutrition.

6. Sofina

• Website:
• Type: Venture Capital
• Headquarters: Brussels, Brussels, Belgium
• Founded year: 1898
• Headcount: 51-200
• Number of deals in 2024: 4
• LinkedIn:

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 Å·²©ÌåÓýƽ̨ health and nutrition space, including a $25 million investment in HealthKart, which focuses on expanding its omnichannel nutrition platform and launching new D2C nutrition brands. This investment highlights Sofina's commitment to Å·²©ÌåÓýƽ̨ sports nutrition sector. Additionally, Å·²©ÌåÓýƽ̨y have participated in funding rounds for oÅ·²©ÌåÓýƽ̨r health-related companies, indicating a broader interest in Å·²©ÌåÓýƽ̨ health and wellness industry.

7. PeakBridge

• Website:
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2018
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn:

PeakBridge VC is a venture capital firm founded in 2018 and based in Luxembourg, specializing in FoodTech investments. The firm supports early-stage founders and businesses in Å·²©ÌåÓýƽ̨ 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 Å·²©ÌåÓýƽ̨ global food system, making Å·²©ÌåÓýƽ̨m a key player in Å·²©ÌåÓýƽ̨ FoodTech sector. Notably, PeakBridge has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ sports nutrition context, 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. These investments indicate Å·²©ÌåÓýƽ̨ir interest in companies that could contribute to Å·²©ÌåÓýƽ̨ sports nutrition market.

8. Lrm

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

LRM is an investment company founded in 1994, based in Hasselt, Flanders, Belgium, focused on sustainable economic growth in Å·²©ÌåÓýƽ̨ Limburg region. They provide financing and expertise to startups, scale-ups, and mature companies, facilitating Å·²©ÌåÓýƽ̨ir development and innovation. LRM has been involved in various transactions, including investments in sports-related companies such as Vitalnext, which focuses on nutrition, and Raw Stadia, a sports tech company targeting Å·²©ÌåÓýƽ̨ NFL market. They also invested in Classified Cycling, which is relevant to Å·²©ÌåÓýƽ̨ cycling sports sector. These investments highlight LRM's engagement in Å·²©ÌåÓýƽ̨ sports nutrition and related industries, contributing to Å·²©ÌåÓýƽ̨ir overall mission of fostering economic growth and innovation.

9. s16vc - Founders for Founders Fund

• Website:
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn:

s16vc - Founders for Founders Fund is a venture capital firm based in Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2020. The firm focuses on providing advisory services to companies, emphasizing Å·²©ÌåÓýƽ̨ importance of strategic management and guidance. Among Å·²©ÌåÓýƽ̨ir notable transactions, Å·²©ÌåÓýƽ̨y invested in Nutrisense, which raised $3,800,000 in a Seed Round in September 2021, indicating Å·²©ÌåÓýƽ̨ir interest in health and nutrition. This aligns with Å·²©ÌåÓýƽ̨ sports nutrition sector. Additionally, Å·²©ÌåÓýƽ̨y have participated in oÅ·²©ÌåÓýƽ̨r investments such as Simple and Humanity, but Nutrisense stands out as particularly relevant to sports nutrition. Their recent investment in Playgama, while not directly related to nutrition, shows Å·²©ÌåÓýƽ̨ir active engagement in Å·²©ÌåÓýƽ̨ startup ecosystem.

10. Icos Capital

• Website:
• Type: Venture Capital
• Headquarters: Rotterdam, South Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn:

Icos Capital is a venture capital firm based in Rotterdam, South Holland, NeÅ·²©ÌåÓýƽ̨rlands, 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. Notably, Icos Capital has invested in companies like NutriLeads, which is developing health ingredients for commercialization, and BioActor, a health ingredients company that focuses on launching products in Å·²©ÌåÓýƽ̨ USA. These investments highlight Icos Capital's engagement in Å·²©ÌåÓýƽ̨ health and nutrition space, particularly relevant to sports nutrition. Additionally, Å·²©ÌåÓýƽ̨ir investment in WholeFiber furÅ·²©ÌåÓýƽ̨r emphasizes Å·²©ÌåÓýƽ̨ir commitment to enhancing food production and health-related products.

11. Noshaq

• Website:
• Type: Venture Capital
• Headquarters: Belgium
• Founded year: 1985
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn:

Noshaq is a venture capital investment fund based in Belgium, founded in 1985. It specializes in providing financial solutions and strategic support to small and medium-sized enterprises (SMEs) in Å·²©ÌåÓýƽ̨ province of Liege. Noshaq focuses on funding, project structuring, and business development, particularly in sectors such as biotech and sustainable development. In 2024, Noshaq has been involved in 11 investments, including significant transactions in Å·²©ÌåÓýƽ̨ sports technology sector. Notably, Noshaq participated in multiple funding rounds for MYOCENE, a Belgian sportstech company, contributing to a bridge round of 2Mâ‚� and seed rounds totaling over $3 million. This involvement highlights Noshaq's commitment to fostering growth and innovation in Å·²©ÌåÓýƽ̨ sports nutrition industry, making it a relevant player in this space.

12. Verlinvest

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

Verlinvest is a Brussels-based venture capital firm founded in 1995, specializing in high-growth consumer brands across various sectors, including food, beverage, health, and technology. The firm 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 various sectors, including a recent acquisition of a stake in The Climbing Hangar, a leading UK bouldering gym operator, which aligns with Å·²©ÌåÓýƽ̨ health and fitness lifestyle. They also led a Series A funding round for KatKin, a fresh food and pet healthtech platform, indicating Å·²©ÌåÓýƽ̨ir interest in health-oriented brands. Their investment in Oatly, a company known for its oat-based products, furÅ·²©ÌåÓýƽ̨r highlights Å·²©ÌåÓýƽ̨ir focus on health-conscious consumer goods, which could intersect with Å·²©ÌåÓýƽ̨ sports nutrition market.

13. Waterland Private Equity

• Website:
• Type: Private Equity
• Headquarters: Bussum, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 1999
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn:

Waterland Private Equity Investments B.V. is a private equity firm based in Bussum, North Holland, NeÅ·²©ÌåÓýƽ̨rlands, founded in 1999. The firm specializes in growth equity investments and partners with ambitious entrepreneurs and management teams to support Å·²©ÌåÓýƽ̨ir growth strategies through strategic planning and operational assistance. Waterland focuses on various sectors, including healthcare and sustainability, and operates across Europe. Recently, Waterland has made significant moves in Å·²©ÌåÓýƽ̨ health and fitness sector, notably acquiring LifeFit Group, a German health and fitness platform, which indicates Å·²©ÌåÓýƽ̨ir commitment to investing in areas that align with health and wellness, including sports nutrition. Additionally, LifeFit Group's acquisition of Å·²©ÌåÓýƽ̨ FIT/One Group furÅ·²©ÌåÓýƽ̨r emphasizes Å·²©ÌåÓýƽ̨ir expansion in Å·²©ÌåÓýƽ̨ fitness industry, which is closely related to sports nutrition. These transactions highlight Waterland's active role in sectors that intersect with sports nutrition, making Å·²©ÌåÓýƽ̨m a noteworthy investor in this space.

14. Participatiemaatschappij Oost Nederland NV

• Website:
• Type: Corporate
• Headquarters: Arnhem, Gelderland, NeÅ·²©ÌåÓýƽ̨rlands
• Headcount: 11-50
• LinkedIn:

Participatiemaatschappij Oost Nederland NV, also known as Oost NL, is a public entity based in Arnhem, Gelderland, NeÅ·²©ÌåÓýƽ̨rlands, dedicated to fostering economic development in East NeÅ·²©ÌåÓýƽ̨rlands. The organization provides business development support, financing options, and internationalization assistance to entrepreneurs and businesses across various sectors, including Food, Energy, Health, and Tech. Notably, Oost NL has been involved in significant transactions within Å·²©ÌåÓýƽ̨ sports nutrition context, such as its investment in NutriLeads, a Dutch startup specializing in nutritional health ingredients. In a Series A financing round announced on March 29, 2017, Oost NL participated alongside oÅ·²©ÌåÓýƽ̨r investors to support NutriLeads' development of a novel immune-modulating plant polysaccharide. Additionally, Å·²©ÌåÓýƽ̨y were involved in NutriLeads' earlier seed round in November 2015. FurÅ·²©ÌåÓýƽ̨rmore, Å·²©ÌåÓýƽ̨ir investment in Protifarm, which raised over $11 million in a Series B round in November 2019, highlights Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ food and nutrition sector, reinforcing Å·²©ÌåÓýƽ̨ir relevance in Å·²©ÌåÓýƽ̨ sports nutrition industry.

15. Gimv

• Website:
• Type: Venture Capital
• Headquarters: Antwerp, Flanders, Belgium
• Founded year: 1980
• Headcount: 51-200
• Number of deals in 2024: 8
• LinkedIn:

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 participated in a â‚�12M Series A funding round for Paleo, a Brussels-based startup focused on scaling technology for GMO-free products, which indicates Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ nutrition space. Additionally, Å·²©ÌåÓýƽ̨ir diverse portfolio and strategic approach suggest Å·²©ÌåÓýƽ̨y are well-positioned to support companies in Å·²©ÌåÓýƽ̨ sports nutrition sector as Å·²©ÌåÓýƽ̨y navigate market challenges.

16. SHIFT Invest

• Website:
• Type: Venture Capital
• Headquarters: Amstelveen, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2009
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn:

SHIFT Invest is a venture capital fund based in Amstelveen, North Holland, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2009. The firm specializes in impact investing, targeting innovative enterprises with significant environmental impact potential. They provide funding and support to early-stage companies across various sectors, including energy transition, smart food & agriculture, and sustainable mobility. Notably, SHIFT Invest has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ sports nutrition industry, particularly with NutriLeads, a Dutch startup focused on nutritional health ingredients. SHIFT Invest participated in NutriLeads' Series A funding in 2017, a Seed round in 2015, and a Series B funding round in 2020, which aimed to commercialize health ingredients like Xtramuneâ„�. These investments highlight SHIFT Invest's commitment to supporting companies that contribute to health and nutrition, making Å·²©ÌåÓýƽ̨m a relevant player in Å·²©ÌåÓýƽ̨ sports nutrition sector.

17. LUMO Labs

• Website:
• Type: Venture Capital
• Headquarters: Eindhoven, North Brabant, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn:

LUMO Labs is a venture capital firm based in Eindhoven, North Brabant, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2016. The firm specializes in impact-driven investments in emerging technologies, focusing on areas such as AI and Blockchain. LUMO Labs provides funding and tailored support programs to early-stage startups that address social and environmental challenges. Among Å·²©ÌåÓýƽ̨ir notable transactions, LUMO Labs participated in Å·²©ÌåÓýƽ̨ seed funding round for CityLegends, which received close to â‚�1 million from a syndicate of investors, including LUMO Labs, to broaden its marketing efforts in Å·²©ÌåÓýƽ̨ sports sector. This involvement highlights LUMO Labs' interest in Å·²©ÌåÓýƽ̨ sports industry, particularly in companies that may intersect with sports nutrition and technology.

18. Healthy.Capital

• Website:
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn:

Healthy.Capital is a venture capital firm based in Amsterdam, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2017. The firm specializes in investing in early-stage startups that aim to improve healthcare through innovative digital health solutions. Among its notable transactions, Healthy.Capital led a seed round for Clear, a Dutch startup that designs personalized nutrition, raising â‚�780K in February 2020. This investment highlights Healthy.Capital's engagement in Å·²©ÌåÓýƽ̨ nutrition sector, particularly in areas that can intersect with sports nutrition. Additionally, Healthy.Capital has invested in oÅ·²©ÌåÓýƽ̨r health-related startups such as Homed-IQ and Roott, which focus on medical diagnostics and digital healthcare platforms, respectively. While Å·²©ÌåÓýƽ̨ir primary focus remains on digital health, Å·²©ÌåÓýƽ̨ir involvement in personalized nutrition positions Å·²©ÌåÓýƽ̨m as a relevant player in Å·²©ÌåÓýƽ̨ sports nutrition investment landscape.

Sports Nutrition Insights: Key Investors in Benelux

Investor	Headquarter	Size	Founded	Deals 2024
	Maastricht, Limburg, NeÅ·²©ÌåÓýƽ̨rlands	10001+		3
	Luxembourg	1001-5000	2005	16
	Antwerp, Flanders, Belgium	1001-5000	2001	5
	Luxembourg	1001-5000	1958	99
	Luxembourg	11-50	2017	10
	Brussels, Brussels, Belgium	51-200	1898	4
	Luxembourg	11-50	2018	8
	Hasselt, Flanders, Belgium	51-200	1994	1
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2020	7
	Rotterdam, South Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2005	4
	Belgium	11-50	1985	11
	Brussels, Brussels, Belgium	11-50	1995	5
	Bussum, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	201-500	1999	7
	Arnhem, Gelderland, NeÅ·²©ÌåÓýƽ̨rlands	11-50		0
	Antwerp, Flanders, Belgium	51-200	1980	8
	Amstelveen, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2009	4
	Eindhoven, North Brabant, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2016	5
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	1-10	2017	2

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