QBic2 raises extra capital

Qbic II, a inter-university investment fund, dedicated to start-ups at the very earliest stage, has collected 8 million euros of additional capital. The total amount available to Qbic in its second fund is now 48 million euros.

Among the investors are Jules Noten (Vandemoortele CEO), the Santens family, Walter Mastelinck (ex-Transics) and companies such as Televic and Reynaers Aluminum. However, the vast majority of the capital comes from the Flemish (PMV) and federal (FPIM) government, some banks and research institutions with whom Qbic has a privileged relationship: Ghent University, the University of Antwerp, the VUB, VITO, Liège University and Imec. Qbic focuses on seed capital: Investments in start-ups at the very first stage and already has three investments in its palmares. One of them, Aphea.Bio, is looking for bacteria to protect corn and wheat from fungi, as an alternative to chemical pesticides. Blue Foot Membranes then reinstates water purification technology and even wiped out money at the American chemical giant Dow. The latest investment was in Laminaria, which will test a plant in Scotland to generate energy through the waves at sea. Qbic II's intention is to redeem their investments within a period of six to eight years through a sale to other investment companies or an industrial player. Source: De Tijd www.qbic.be