Capricorn Partners
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Capricorn is the rare European VC that actually walks the walk on deep tech and sustainability—they've been doing cleantech since 2007, way before it was cool again. With 2 unicorns (Electric Hydrogen and Xanadu) in their portfolio and a track record spanning 26 years, they're not just another generalist fund pretending to understand hard science. Jos Peeters is a proper physics PhD who's been in the game for over three decades and built the European VC infrastructure we know today. The team genuinely gets technical due diligence, but here's the catch: they're very Belgian in their approach—methodical, relationship-focused, and not flashy. They invest mostly in Belgium (28 companies) and Netherlands (9 companies), so if you're not in their geographic sweet spot or willing to relocate there, you might find yourself on the outside looking in.
- —Best for: Hard tech, cleantech, and digital health startups in Benelux willing to play the long game
- —Watch out for: Geographic bias toward Belgium/Netherlands and methodical decision-making process
- —Known for: Legitimate technical expertise, sustainability focus, and 26-year track record with unicorns
Capricorn Partners is an independent European manager with a focus on innovative companies that use technology as a competitive advantage, concentrating on digital, health and clean technologies within Europe with a special focus on the Benelux region. They aim to create both financial return and strategic value by investing in innovative companies that have a positive impact on people and the planet, offering a unique mix of technology and investment expertise.
They primarily invest in Series A (33 deals) and Seed (14 deals) stages with average round sizes of $6-7M and $4-5M respectively. Capricorn manages seven specialized funds: Digital Growth, Sustainable Chemistry, ICT, Health-tech, Cleantech, Industrial Biotech, and Fusion China funds. Their portfolio is diverse across Enterprise Applications, High Tech, Life Sciences, HealthTech and Sustainability Tech, with 88 B2B companies and 71 tech companies.
Has a PhD in Solid State Physics from University of Leuven and worked at Bell Telephone Manufacturing, PA Technology and BeneVent Management before starting Capricorn. He was the first Chairman of the Belgian Venture Capital Association and served as Chairman of EVCA (now Invest Europe), where he led the creation of Easdaq. A veteran pioneer of EU venture capital who led creation of one of the EU's first cleantech funds in 2007.
Partner and Executive Committee member investing in data driven companies with focus on digital healthcare and Industry 4.0. She was the first female president of the Belgian Venture Capital Association and was named one of Belgium's 'Inspiring Fifty' women in tech in 2020. Brings twenty years of investment experience, with a background in banking and management consulting before falling in love with venture capital.
One of four Managing Partners taking responsibility for daily management alongside Yves Vaneerdewegh, Katrin Geyskens and Rob van der Meij. Became a shareholder and partner exactly one year before the company's 2019 rebranding to Capricorn Partners.
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