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    ULB launches 20 million fund for its spin-offs

    The fourth edition of Theodorus fund in support of spin-offs from Free University of Brussels will be granted nearly 20 million, L’Écho reports on Saturday. “Our goal is to reach 25, or even 30 million euros,” managing partner at Theodorus Olivier Belenger explains.

    Like its predecessors, the new fund will invest in about fifteen companies through the next six years (that is an average of three per year), primarily ULB spin-offs, even if opening to new investors suggests an even greater freedom to capitalize young nonacademic innovative companies.

    Known investors are already convinced: SFPI, Sambrinvest and SRIB (public), or BNP Paribas, Sofina, Spoelberch (private), for example.

    “Currently, we already have a dozen more or less mature projects, explains Marie Bouillez, partner at Theodorus. Three are ready to be presented to the investment committee.” The preferred sectors are still the same: biotech, medical devices and engineering.

    The partnership between ULB and the Theodorus fund is productive. Since 2003, it has contributed to the creation of 33 companies which have raised more than 220 million euros and created 550 jobs.

    The Brussels Times