What Fund+ does

Fund+ is a Belgian venture capital firm established in 2015, headquartered at Groot Begijnhof 60 in Leuven. The firm operates as an open-ended fund providing long-term equity investment in innovative life sciences companies, with a primary focus on Belgium and the broader Benelux region while extending into select European markets including Germany, the Netherlands, and Spain. Fund+ invests across therapeutics, medical devices, and diagnostics, with a stated emphasis on patient-centric approaches addressing unmet medical needs in oncology, CNS disorders, rare diseases, infectious diseases, and regenerative medicine.

The firm manages a portfolio of approximately 16-17 companies spanning modalities such as antibody-drug conjugates (Tubulis, Ona Therapeutics), RNA therapeutics (Cardior), gene therapy (Coave Therapeutics), regenerative tissue products (Novadip Biosciences), vaccines (AstriVax Therapeutics), GPCR-modulating therapies (Confo Therapeutics), and continuous monitoring devices (Indigo Diabetes). Notable portfolio events include Fund+ leading the €42M Series A for ExeVir Bio (co-founded with VIB and UCB in 2020) and the €38M Series B for Indigo Diabetes, as well as participation in Tubulis' €60M Series B (2022), €128M Series B2 (2024), and €308M Series C (2025), the latter being the largest Series C financing for a European biotech.

Fund+'s revenue model combines management fees on assets under management with capital appreciation from equity investments realized through exits. As of 2022 the firm managed over €200M in AUM. Two major exits anchor the track record: Cardior's acquisition by Novo Nordisk in March 2024 for up to €1.025B, and Tubulis' acquisition by Gilead Sciences in April 2026 for $3.15B upfront plus up to $1.85B in milestone payments. The firm is led by founder and chairman Desire Collen and a specialist team combining healthcare industry, corporate finance, and strategy consulting experience, distributing capital via direct equity investments and active engagement with portfolio boards.

Name

Fund+

Legal name

Fundplus

Website

https://fundplus.be/

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Fund+ is a Belgian venture capital firm founded in 2015 that provides long-term equity investment to innovative life sciences companies across therapeutics, medical devices, and diagnostics, primarily in Belgium and the broader Benelux and European markets.

Ownership category

akta.pro rank

Product category

Venture Capital / Life Sciences Investment Management

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

SDG / Thematic Sustainable Investment Funds (FSANAJAN)

Keywords

• Life sciences venture capital
• Biotech equity investment
• Therapeutics funding
• Medical devices investment
• Diagnostics venture capital

Headquarters

HQ city

Leuven

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Capital Appreciation: Fund+ generates returns through capital appreciation from equity investments in portfolio companies. As an open-ended fund for long-term equity investment, returns are realized through exits of portfolio companies via acquisitions or IPOs.
2. Investment Management Fees: Fund+ charges management fees for overseeing the fund and its portfolio companies, supporting companies throughout their growth cycle.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Fund+ is an open-ended venture capital fund providing long-term equity investment to innovative European life sciences companies with a focus on Belgium and the Benelux region. The fund invests across stages in therapeutics, medical devices, and diagnostics companies addressing unmet medical needs, supporting them through their growth cycles with capital and strategic guidance.

Product overview

Fund+ is an open-ended venture capital fund for long-term equity investment in innovative European Life Sciences companies. The fund focuses on Belgium and Benelux, investing in therapeutics with a strong patient-centric approach and addresses unmet medical needs. Fund+ creates sustainable shareholder value while reinforcing Belgium's leading position in the Life Sciences sector and generating tangible societal benefits.

Differentiator

Problem solved

Functional benefit

Products and services

• Fund+ Life Sciences Investment Fund An open-ended venture capital fund providing long-term equity investment to innovative European Life Sciences companies, with primary focus on Belgium and Benelux. Invests in therapeutics, medical devices, and diagnostics companies addressing unmet medical needs, with a patient-centric approach. Supports portfolio companies throughout their growth cycles from seed to later stages.

Quantifiable outcome

• Tubulis acquisition by Gilead for $3.15B upfront + $1.85B milestones
• +1 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• ExeVir BiocoreStrategic or Co-development Partner · 1 January 2020Fund+ established ExeVir Bio with VIB and UCB in July 2020 to accelerate COVID-19 treatments. Fund+ led the €42M Series A. ExeVir develops single-domain antibody therapies for infectious diseases with candidates targeting SARS-CoV-2 variants and dengue.
• VIBcoreStrategic or Co-development Partner · 1 January 2020VIB (Flanders Institute for Biotechnology) is Belgium's leading life sciences research institute. Fund+ co-founded ExeVir Bio with VIB and UCB. VIB provides scientific expertise and research capabilities for portfolio companies.
• UCBminorStrategic or Co-development Partner · 1 January 2020UCB collaborated with Fund+ and VIB to establish ExeVir Bio for COVID-19 therapeutics development. UCB Ventures participated in the €42M Series A.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Forbion: Leading European life sciences VC managing multiple billion-euro funds. Direct peer: invests in clinical-stage European therapeutics across all major indications, overlapping directly with Fund+'s therapeutic focus and stage range.
• BioGeneration Ventures: Dutch VC specialized in early-stage life sciences, frequently co-investing in Benelux biotechs. Direct peer: led TargED's recent Series A extension and competes for the same Belgian/Dutch biotech deal flow as Fund+.
• Andera Partners: French life sciences VC with €3.2B+ AUM. Direct peer: co-invests with Fund+ across multiple Belgian/Benelux portfolio companies (Tubulis, TargED) and targets the same European clinical-stage therapeutics market.
• EQT Life Sciences: Pan-European life sciences investor (formerly LSP), part of EQT. Direct peer: co-led Tubulis' €128M Series B2 and invests across European therapeutics at multiple stages, overlapping with Fund+'s focus on clinical-stage Belgian biotechs.
• Sunstone Life Science Ventures: European life sciences-focused VC. Direct peer: participated in TargED Series A alongside Fund+ and invests across European clinical-stage therapeutics, making it a direct syndication peer.
• Inkef Capital: Dutch VC with significant life sciences allocation. Direct peer: co-invested with Fund+ in TargED Biopharmaceuticals Series A and pursues similar early-to-mid-stage European biotech opportunities.
• Hadean Ventures: Nordic/European life sciences VC. Direct peer: co-led TargED Biopharmaceuticals' €39M Series A alongside Fund+ and focuses on Nordic and broader European clinical-stage biotechs in similar therapeutic areas.
• Gilde Healthcare: Utrecht-based healthcare and life sciences VC. Direct peer: invests in European therapeutics and medical devices with similar geographic concentration to Fund+ in Benelux and surrounding markets.

Broad incumbents

• Novo Holdings (Novo Seeds / Novo Ventures): Strategic life sciences investment arm of the Novo Nordisk Foundation. Broad incumbent: large-scale life sciences investor that, through acquisition of Cardior (Fund+ portfolio exit), has demonstrated both strategic acquirer and investor roles across the European biotech ecosystem.
• Boehringer Ingelheim Venture Fund: Corporate venture arm of Boehringer Ingelheim. Broad incumbent: strategic life sciences investor providing capital plus partnership opportunities; while not a pure financial peer, it operates in the same European clinical-stage therapeutics deal flow as Fund+.

Market position

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments33 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fund+