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Fund+
Fund+ was established in May 2015 by the private foundation Désiré Collen and the non-profit Life Sciences Research Partners. Headquartered in the Groot...
Fund+
Fund+ was established in May 2015 by the private foundation Désiré Collen and the non-profit Life Sciences Research Partners. Headquartered in the Groot Begijnhof of Leuven, the firm operates as an open-ended Belgian NV/SA, raising capital from high-net-worth individuals, family offices, and government agencies that share the founders' long-term vision. Fund+ concentrates on innovative life sciences companies in therapeutics, diagnostics, and medical devices. The firm enters at Series A or B, requiring proof-of-concept, and intends to commit €5M to €15M per portfolio company across milestones. Confirmed positions include Tubulis (oncology), Confo Therapeutics, and Cardior Pharmaceuticals, the latter acquired by Novo Nordisk. The portfolio also extends to Egle Therapeutics, Astrivax Therapeutics, TargED Biopharmaceuticals, and EyeD Pharma, with an exclusive focus on Belgium. The firm raised €200M in commitments and operates with a compact team, listing six professionals led by Partner Halina Novak and Partner/CFO Bart De Leeuw. An adjacent commitment to societal return is embedded in the charter, with the founding non-profit anchor shaping governance. In April 2026, portfolio company Tubulis was announced as being acquired by Gilead. Fund+ is structured as an open-ended vehicle, a deliberate departure from the fixed-life venture funds that dominate European biotech. This architecture allows the firm to hold positions through long development cycles without forced exits, aligning with the multi-decade timelines of drug discovery and the patient-capital ethos of its non-profit founders.
General information
Firm type
Private Equity
Year founded
2015
AUM
€200M in commitments raised (per firm website); ~$217M USD.
Location
Region
Europe
Country
Belgium
City
Leuven
Corporate office
Groot Begijnhof 60, 3000 Leuven, Belgium
Principals
Halina Novak
Partner
Bart De Leeuw
Partner/CFO
Caroline Goddeeris
Venture Partner
Patrick Vanbeneden
Consultant
Sector focus
Frequently asked questions
Who leads investment decisions at Fund+?
Partner Halina Novak, PhD, drives investment and alliance management, bringing experience from VIB's Tech Watch Program and board roles at Cardior Pharmaceuticals (acquired by Novo Nordisk) and several current portfolio companies. She is joined by Venture Partner Caroline Goddeeris and Consultant Patrick Vanbeneden, both former Gimv principals, and Partner/CFO Bart De Leeuw.
How is Fund+ capitalized, given its non-profit origins?
Fund+ is an open-ended Belgian NV/SA whose capital base of €200M was raised from high-net-worth individuals, family offices, and Belgian government agencies. Its founding entities are the private foundation Désiré Collen and the non-profit Life Sciences Research Partners, which shape the firm's dual financial and societal return mandate.
What is Fund+'s investment stage focus?
Fund+ targets Series A and B rounds in life sciences companies that have already achieved proof-of-concept. The firm does not invest at seed stage or in pre-clinical concepts, and it aims to deploy €5M to €15M per company over multiple milestones.
Does Fund+ invest only in Belgian therapeutics companies?
The firm's mandate is primarily Belgian, with website-confirmed portfolio companies all headquartered or strongly rooted in Belgium. While therapeutics is the core, Fund+ also invests in diagnostics and medical devices, provided the company meets the proof-of-concept and stage requirements.
How does Fund+'s open-ended structure affect its investment strategy?
As an open-ended fund, Fund+ is not constrained by a fixed liquidation date. This allows it to hold positions through the extended clinical and regulatory timelines typical of drug development, avoiding forced exits during unfavorable market windows and aligning with the long-term philosophy of its non-profit founders.
What is Fund+'s stance on co-investing alongside other venture firms?
The firm's website does not explicitly outline a co-investment policy, but its presence on boards such as Confo Therapeutics and its involvement in syndicates like Tubulis's Series C suggest Fund+ routinely participates alongside other life sciences venture investors and corporate pharma funds.
How are the non-profit founders' interests reflected in governance?
Fund+ does not disclose its board composition or formal governance agreements, but the firm's charter emphasizes a societal return mandate alongside financial returns, and the founding private foundation and non-profit entities are integral to its identity and patient-capital ethos.
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