ICOS Capital Management
ICOS Capital Management is a Netherlands-based venture and growth capital firm that invests in scale-up phase sustainability and climate tech companies across Europe, using its Collaborative Venturing Platform to pair portfolio companies with sector-leading corporate partners.
- Company typePrivate
- Founded2005
- HeadquartersRotterdam, Netherlands
- Headcount1–10
- GTM typeB2B
- OfferingServices
What ICOS Capital Management does
ICOS Capital Management is a privately-held venture and growth capital investment firm headquartered at Barbara Strozzilaan 101, 1083 HN Amsterdam, Netherlands, founded in 2005. The firm focuses exclusively on sustainability-oriented enabling technologies, investing primarily in scale-up phase companies across Climate Tech, sustainable food systems, and bio-based materials. Geographically, ICOS concentrates on Europe and Israel with minority investments in North America and the rest of the world. Its investment products are structured as two regulated vehicles: ICF III (an EU SFDR Article 8 fund promoting environmental and social characteristics) and ICF IV (an SFDR Article 9 fund with a strict sustainable investment objective targeting 10Mt CO2e reduction within 10 years, 50Mt within 20 years, and a 1Gt CO2e ultimate outlook by 2050). Twenty-five percent of carried interest on Fund IV is contingent on achieving these impact targets.
The firm's core differentiator is the Collaborative Venturing Platform (CVP), a structured mechanism that pairs portfolio companies with sector-leading corporate partners — including Bühler Group, Royal Cosun, Nouryon, and Bird Control Group — to provide growth financing, engineering and production expertise, infrastructure, and market access. Day-to-day screening and portfolio monitoring is supported by a proprietary sustainability matrix incorporating Principal Adverse Impacts screening and ESG criteria. The firm supplements this with annual Innovation Summits (the 17th edition was held at the Bühler CUBIC Innovation Campus in Switzerland) to convene scale-ups, corporates, VCs, and government institutions.
ICOS is monetized through standard venture capital economics: management fees on committed and deployed fund capital, and carried interest on successful exits via trade sales and IPOs, with the carried interest subject to impact hurdles. The firm maintains an active portfolio of 35 companies and a small core investment team (1–10 employees) with over 75 years of cumulative VC experience, supplemented by a network of named Venture Partners and Industry Partners & Advisors drawn from its corporate partners.
ICOS Capital Management firmographics
Firmographics- Name
- ICOS Capital Management
- Legal name
- Icos Capital
- Website
- https://icoscapital.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- ICOS Capital Management is a Netherlands-based venture and growth capital firm that invests in scale-up phase sustainability and climate tech companies across Europe, using its Collaborative Venturing Platform to pair portfolio companies with sector-leading corporate partners.
- Ownership category
- akta.pro rank
ICOS Capital Management industry classification
Industry- Product category
- Venture Capital
- NAICS
- Other Investment Pools and Funds (5259), Other Financial Investment Activities (5239)
- SIC
- Investors, Nec (6799)
- akta.pro primary industry
- Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)
- akta.pro secondary industry
- Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)
Keywords
Where ICOS Capital Management is headquartered
LocationHeadquarters
- HQ city
- Rotterdam
- HQ country
- Netherlands
- HQ region
- Europe
Offices2 records
Markets served
ICOS Capital Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Venture Capital Returns: Returns generated through successful exits of portfolio companies via trade sales and IPOs. The firm also earns management fees and carried interest from managed funds.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
ICOS Capital Management product offering
Product offeringCore offering
ICOS Capital is a private venture and growth capital firm that invests in European scale-up stage sustainability-oriented technology companies, primarily in Climate Tech sectors such as Food Tech and sustainable materials. The firm manages investment funds (ICF III and ICF IV) and operates a Collaborative Venturing Platform (CVP) that connects portfolio companies with sector-leading corporate partners to provide growth financing, engineering and production expertise, infrastructure, and market access.
Product overview
ICOS Capital Management is a venture capital firm that offers a suite of investment products centered around sustainability and climate technology. The firm manages two primary funds: ICF III (an Article 8 SFDR fund) and ICF IV (an Article 9 SFDR fund), which invest in early growth and scale-up stage companies in Climate Tech sectors including Food Tech and sustainable materials across Europe with minority investments globally. The firm's offering is structured around its Collaborative Venturing Platform (CVP), which connects portfolio companies with corporate partners for technical and commercial collaboration, and annual Innovation Summits that facilitate networking between startups, industry partners, and investors.
Differentiator
Problem solved
Functional benefit
Brands
- Collaborative Venturing Platform (CVP): Platform connecting fast growth innovators with sector leading corporations to facilitate growth financing, engineering and production expertise, infrastructure and market access
Products and services
- ICOS Capital Fund III (ICF III)
- ICOS Capital Growth Fund IV (ICF IV)
- Collaborative Venturing Platform (CVP)
- Innovation Summits
Quantifiable outcome
- 1 G T CO2e reduction/avoidance target by 2050
- +2 more outcomes
Companies that use ICOS Capital Management
Customer profileSegments2 records
Ideal customer profiles2 records
ICOS Capital Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
ICOS Capital Management partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Bühler GroupcoreBühler Group is a key partner in organizing the annual Collaborative Summit on Sustainable Food and Biotech Scale-Ups at the Buhler CUBIC Innovation Campus in Switzerland. Ian Roberts (CTO) and Matthias Kaiserswerth (Innovation Board) serve as Industry Partners & Advisors to ICOS Capital.
- Royal CosuncoreRoyal Cosun participates in ICOS Capital's Collaborative Venturing Platform. Maaike Van den Maagdenberg (Director Corporate Development) and Hans Meeuwis (CEO) serve as Industry Partners & Advisors.
- NouryoncoreNouryon participates in ICOS Capital's Collaborative Venturing Platform. Rolf Edvinsson (Chief Scientist Performance Formulations, R&D) serves as Industry Partner & Advisor.
- Bird Control GroupminorDimmes Doornhein (Chairman Supervisory Board) serves as Industry Partner & Advisor to ICOS Capital through the Collaborative Venturing Program.
- Venture Partners NetworkcoreNetwork of experienced venture partners including Veronique de Bruijn, Norbert Danneberg, Tadeusz Uhl, Andre Groeneveld, Stefan Dobrev, and Paul Zekveld who provide decades of experience leveraged during scale-up of portfolio companies.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
ICOS Capital Management competitors and assessment
Company assessmentRegional players
- KfW Capital: German state-backed VC fund-of-funds manager investing in European venture capital with a focus on impact and sustainability. Comparable as a European sustainability-focused VC capital provider, though primarily active in Germany rather than Benelux.
Broad incumbents
- Energy Impact Partners: Global venture capital platform investing in companies shaping the energy transition, with utility and corporate LPs forming its collaborative network model. Comparable broader incumbent in climate-focused VC with similar corporate-partner-driven thesis as ICOS Capital's CVP.
Direct peers
- Capricorn Partners: Belgium-based independent venture and growth capital firm managing multiple technology-focused funds including the Capricorn Industrial Biotech Fund, which co-invested with ICOS Capital in Foamlab's €3M growth round. Directly comparable as a European independent VC investing in sustainable technologies with corporate partner networks.
- Emerald Technology Ventures: Zurich-based global cleantech and industrial VC firm investing in growth-stage sustainability and industrial technology companies. Directly comparable as a European venture/growth investor with a sustainability mandate similar to ICOS Capital's climate tech focus.
- Value Factory Ventures: Netherlands-based venture capital firm participating alongside ICOS Capital in Foamlab's €3M growth round. Comparable as a regional VC co-investor in European sustainability scale-ups.
- Clean Growth Fund: UK-based venture capital fund investing in cleantech scale-ups; co-investor alongside ICOS Capital in portfolio company Holiferm's £18.5M raise. Comparable as a European growth-stage cleantech VC.
- SHIFT Invest: Dutch impact VC firm managing TTT Green Tech and other sustainability-focused funds; co-invested with ICOS Capital in Foamlab's €3M growth round. Highly comparable as a Netherlands-based climate/sustainability VC targeting scale-up stage companies.
- DOEN Ventures: Dutch impact investor backing innovative sustainable entrepreneurs; co-invested alongside ICOS Capital in Foamlab's €3M growth round. Comparable as a Netherlands-based VC deploying capital into early-stage sustainability ventures.
- Demeter Partners: Paris-based European VC and private equity firm focused on the ecological transition, managing multiple funds across cleantech, energy, and sustainable materials. Comparable as a European VC/PE firm with sustainability/climate tech investment focus.
Emerging players
- NatureVest: The impact investment arm of The Nature Conservancy, focusing on nature-based solutions and sustainable land use investments. Comparable as an emerging player in impact-aligned investing with sustainability focus overlapping ICOS Capital's circular economy and biodiversity mandates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
ICOS Capital Management social profiles
Digital presenceICOS Capital Management compliance and trust
Trust signalCompliance2 records
ICOS Capital Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
ICOS Capital Management leadership team
Management profileNumber of profiles
Profiles9 records
ICOS Capital Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ICOS Capital Management M&A and investment
M&A and investmentM&A
Investments34 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ICOS Capital Management
What does ICOS Capital Management do?
ICOS Capital is a private venture and growth capital firm that invests in European scale-up stage sustainability-oriented technology companies, primarily in Climate Tech sectors such as Food Tech and sustainable materials. The firm manages investment funds (ICF III and ICF IV) and operates a Collaborative Venturing Platform (CVP) that connects portfolio companies with sector-leading corporate partners to provide growth financing, engineering and production expertise, infrastructure, and market access.
Is ICOS Capital Management a public or private company?
ICOS Capital Management is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ICOS Capital Management founded?
ICOS Capital Management was founded in 2005. It employs 1 to 10 people.
Where is ICOS Capital Management based?
ICOS Capital Management is headquartered in Rotterdam, Netherlands, in the Europe region.
How does ICOS Capital Management make money?
One revenue line is on record: venture Capital Returns.
Who are ICOS Capital Management's main competitors?
KfW Capital is listed as a regional player. Energy Impact Partners is listed as a broad incumbent. Direct peers are Capricorn Partners, Emerald Technology Ventures, Value Factory Ventures, Clean Growth Fund, SHIFT Invest, DOEN Ventures and Demeter Partners. NatureVest is listed as an emerging player.
Does ICOS Capital Management have an API?
No public API is recorded for ICOS Capital Management.
What industry is ICOS Capital Management in?
ICOS Capital Management's product category is Venture Capital. Its primary akta.pro industry code is BPAHADAG, Capital Raising Advisory (Debt/Equity/Private Capital), with a secondary code of FSANAHAN, Corporate Strategic Real Assets & Infrastructure Venture Investing. Its NAICS code is 5259 and its SIC code is 6799.