Based out of Liège, WHITE FUND is a new €20 million private early-stage investment fund, which is dedicated to the most promising Medtech projects in Belgium. The fund’s board of directors is currently being formed and will be chaired by an independent director with significant experience in the field of healthcare.
Two Belgian investors!
Two Belgian investment managers from Noshaq – Joanna Tyrekidis and Benoit Fellin have created WHITE FUND, upon noticing the demand for a private structured or structuring fund that can support the early development stages of Medtech projects.
Joanna Tyrekidis and Benoit Fellin said:
Medtech companies have their life cycles and economic realities, including challenges, particularly of a regulatory nature, which must be considered at a very early stage, as soon as the project is structured.
Started to raise funds in 2018
Upon consulting range of entrepreneurs, they began to raise funds in October 2018 in a bid to enlist major Belgian financial partners, industry partners with access to healthcare sector experts and practitioners to provide significant added value to participating companies.
They added:
In addition to finance, we, therefore, wanted to develop a project that responds more effectively to identified weaknesses, which are generally shared by these companies and at this stage of development.
Aims to raise an additional €10 million !
After 12 months later, WHITE FUND closed €20 million funding led by investors including Marc Nolet, SFPI-FPIM, Invest For Jobs, finance&invest.brussels, Noshaq, Ogeo Fund, Solidaris, and CHU de Liège. The platform aims to raise an additional €10 million over the next few months.
WHITE FUND’S roadmap
This Belgian private equity fund is set to invest in two to three projects per year over five years, with €2 million – €3 million assigned to each project across 2 – 3 rounds of financing. The company focuses on “early-stage” companies, which must have, at a minimum, a proof of concept for their technology and objective market traction indicators
15 projects across a range of fields!
As of now, around 15 projects are being considered in the fields of medical imaging, cardiology, and even the detection of respiratory problems. Furthermore, the company aims to support the pre-marketing stages of projects and the launch of sales, with an exit target of 5-7 years.
As well as hoping for financial return, our shareholders invest in a specialist fund with the expectation of structuring a strong ecosystem and benefits in terms of creating jobs.
Image credit: WHITE FUND
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