After backing healthcare startups in Benelux region with its first fund, this VC firm raises €8M for second fund

With an aim to improve the healthcare system for patients, Belgium-based Novalis Biotech, an early-stage VC investor in healthtech sector, has successfully closed the first round of its second fund, Novalis Biotech Acceleration, raising an initial €8M. The majority of investors in Novalis’ first fund have co-invested in this first closing.

The fund also claims to have commitments for a similar amount to be raised soon; anticipates a final closing in early 2021. “We have already doubled our first fund in this closing, and with the commitments, in place, we are almost fully subscribed to reach our goal of €25M. With the addition of a couple of new investors, we remain on track to fully close the Acceleration Fund in early 2021,” says Jan Van den Berghe, co-founder of Novalis.

First Fund

Novalis Fund 1 totalled €4M deployed into eight companies, mostly in the Benelux region, which focused on genomics, bioinformatics and digital health. These include BioLizard, Cergentis, Enzyre, Epify, Fertiga, myNEO, and OHMX.bio. 

Geographically, the exception was its investment in doc.ai, a digital health company based in the U.S. For Fund 2, Novalis will expand to other areas in Europe and make additional investments in the U.S.

Novalis Acceleration Fund

For the Novalis Acceleration Fund, investments will be split between approximately ten early-stage incubation projects and about ten acceleration projects, where the investment in each company is larger. Two initial investments have been identified and will be closed soon.

“Our investment strategy for Fund 1 was very successful. Each company brings a unique perspective to healthcare, many of which are based on our own ideas,” says Prof. Wim van Criekinge, co-founder of Novalis Biotech.

Speaking about the Acceleration fund, Prof. Criekinge says, “We will continue this strategy into the Acceleration Fund as well as look at companies where our investment will drive the process. There are already a number of companies we have identified for investment as well as plans to incubate a further company based on our internal assessments.”

About Novalis Biotech

Novalis was founded by Prof. Wim Van Criekinge and Jan Van den Berghe in 2018. It provides seed funding and ongoing support to biotechnology and life sciences companies. 

Novalis incubates and advances its own ideas or supports existing innovative life science startups. It invests where a relatively small investment can create significant value through the use of software, IP, tools, and other technology that can serve and benefit healthcare.

The company’s core competence lies in the interaction between bioinformatics, genomics, and digitalisation in the life sciences industry. The VC firm wants to advance in the prevention, diagnosis, or treatment of a disease. Hence, it provides hands-on support for startups, allowing an idea to be built into a successful company.

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