Biotope Ventures, a Belgium-based early-stage investor, has announced the successful first close of €5 million for its second fund, Biotope Ventures 2. The fund is targeting a total of €9 million, with an additional €4 million expected to be raised over the next 18 months. The initiative will allow Biotope Ventures to invest in up to 30 early-stage biotech startups focused on addressing challenges related to planetary health.
“With the €250K investment, founders can focus on unlocking the potential of their technology”
The fund’s investors include Belgian Bank BNP Paribas Fortis, Agri Investment Fund (AIF), SFPIM Relaunch, Anacura, the Flemish Biotechnology Institute (VIB), and family offices such as The Nest and Edaphon. The fund’s approach involves providing each selected startup with €250,000 in investment along with comprehensive support, preparing them for subsequent investment rounds.
Annick Verween, Head of biotope by VIB, commented, “This first close is an amazing milestone for us. With the €250K investment, founders can focus on unlocking the potential of their technology without being distracted by short-term fundraising pressures.”
Startup selection process
Startups selected for Biotope Ventures 2 undergo a rigorous selection process, with three startups chosen twice a year. These companies participate in a three-week “basecamp” designed to refine their value propositions, particularly from scientific and technological perspectives. The process helps startups strengthen their intellectual property, regulatory strategies, and overall business foundations, making them better positioned for future growth and investment.
Biotope Ventures’ first fund, which operated from 2020 to 2023, supported 16 European startups in the food, agriculture, and materials sectors. These companies collectively attracted €30 million in follow-on funding, with nearly half of this amount coming from grants. The fund’s investments have helped drive innovation and growth in these sectors, resulting in a capital leverage of more than 10x.
The incubator also focuses on diversity within the biotech sector. A notable aspect of the fund’s portfolio is its emphasis on gender inclusion, with 75% of the startups having mixed-gender founding teams, and 58% of employees being women. Since its inception, the fund has helped create 48 full-time equivalent (FTE) jobs, with more expected as the selected startups grow.
Tackling sustainability crisis through tech
Biotope’s second fund also benefits from the involvement of investors like Edaphon and Anacura. Vincent Vliebergh, Managing Partner at Edaphon, spoke on the fund’s potential to foster the development of impactful companies in agriculture, food, and materials. Similarly, Raf Moons, Head of Private Equity at BNP Paribas Fortis, noted that Biotope Ventures aligns with their commitment to supporting a sustainable and resilient food system.
Jérôme Van Biervliet, Managing Director at VIB, said, “We’re incredibly grateful to announce the launch of Biotope Ventures 2. Thanks to the investors, we can continue to tackle the sustainability crisis through technology and entrepreneurship.”
