VIVES IUF, a European high-tech early stage fund, has raised €38 million (US$41.2 million), taking its total funding to €70 million. The European Investment Fund (EIF) has invested EUR 25 million together with current and new high-quality investors.
“Given the continued interest of additional investors, we expect the transaction to reach €75 million by final closing in the first quarter of 2024,” said Philippe Durieux, CEO of VIVES. Ta.
The additional funding capacity of EUR 38 million will enable VIVES IUF to establish 10 science-based ventures and provide additional financial support to 10 companies in its current portfolio.
With these new funds, VIVES IUF will raise up to €7 million per portfolio company from pre-seed to Series B, focusing on areas such as human health (including medical technology and nutrition), agricultural technology and engineering. can be invested. The fund primarily operates in Belgium and neighboring countries.
As a cross-border fund, VIVES IUF has special partnerships with five of Europe’s top universities. UCLouvain, KULeuven, University of Paris (FR), Wageningen University, and Luxembourg University. Apart from academic deal flow, VIVES IUF also has access to a pipeline of high-tech startups.
EIF, the current shareholder of VIVES I (€15 million) and VIVES II (€42 million), contributed to this second successful closing of VIVES IUF. His VIVES IUF, founded by the University of California, Louvain, plays a vital role in connecting academic research and innovative projects with public and private investors.
VIVES IUF invests in Sunrisea company that develops products for people who suffer from sleep disorders.