Today VIVES IUF (inter-university fund), a European high-tech early-stage fund, announced that it has raised €38 million in capital, bringing its total funding to €70 million. The European Investment Fund (EIF) committed €25 million alongside current and new blue-chip investors.
Initiated by UCLouvain, VIVES IUF is pivotal in connecting academic research and innovative projects with public and private investors.
Addressing the seed funding gap, VIVES IUF catalyses transforming academic research and startups into viable, high-impact ventures.
As a cross-border fund, VIVES IUF partners with five top-ranking European universities: UCLouvain (BE), KULeuven (BE), Université de Paris (FR), Wageningen Universiteit (NL) and Université du Luxembourg (LU). VIVES IUF also has access to a high-tech startup pipeline.
VIVES II portfolio companies have raised approximately €1.5 billion in financing, demonstrating VIVES' ability to transform early-stage companies from pre-seed funding into series A.
This additional funding will enable VIVES IUF to create ten science-based ventures and support its current portfolio of ten companies.
Portfolio companies include:
- Spinovit is developing a method for quantitatively analysing an oxygen-sensitive blood biomarker to measure endothelial dysfunction and prevent cardiovascular risks.
- SmartNodes is a provider of innovative control modules for dynamic outdoor lighting.
- E-PEAS extends the battery life of IoT applications through its suite of ambient energy harvesting, processing, and sensing solutions.
Philippe Durieux, CEO of VIVES shared:
"Thanks to our close collaboration with the European Investment Fund, this new closing has run smoothly. We are now expecting to reach €75 million through a final closing in the first quarter of 2024.”
With these new funds, VIVES IUF can invest up to €7 million per portfolio company, ranging from pre-seed to Series B, focusing on sectors such as human health (including medtech and nutrition), agtech and engineering (including aerospace). The fund is primarily active in Belgium and neighbouring countries.
Lead image: Philippe Durieux, CEO of VIVES. Photo: David Plas.