Empowering the Future of Medical Technology: Strategic Investments to Accelerate Innovation and Transform Patient Care
Average DPI
3.1 x
Under Management
150.0M$
Successful Exits
28
Capital Raised & Exited
4.50Bn$
Precision Investments in Life sciences & Deep Tech
Seido Capital backs innovators in Life sciences and deep tech, from pre-seed to IPO. We provide capital, strategy, and expertise to turn ideas into market leaders.
Key Metrics That Drive Our Strategic Growth and Value Creation
01
Shaping
the Future of Healthcare
We partner with visionary founders who are engineering the next wave of Life sciences and Biotech breakthroughs. Our diverse portfolio spans cutting-edge diagnostics, digital therapeutics, and transformative AI, accelerating new standards of patient care.
02
Driving
Successful Outcomes
Our hands-on approach supports ventures from early growth to high-value exits or public offerings. Whether it’s a strategic acquisition or an IPO, we leverage deep domain expertise to ensure every milestone delivers meaningful returns and global impact.
03
Fueling
Ambitious Innovation
With robust capital at our disposal, we empower pioneering technologies and data-driven solutions. Our disciplined investment strategy, fortified by crossborder partnerships, ensures sustainable growth and tangible benefits for patients worldwide.
04
Maximizing Value
Minimizing Risk
Backed by meticulous due diligence and operational expertise, we deploy capital with precision—streamlining deal processes and accelerating time-to-market. The result? A portfolio that thrives, rewarding both our investors and the broader healthcare ecosystem.
Exploring Our Regional Impact and Global Reach Across Key Markets
Core Strengths of Seido Capital
Building Success Through Expertise, Partnership, and Strategic Support
01
Industry Expertise
Empowering the Future of Medical Technology: Strategic Investments to Accelerate Innovation and Transform Patient Care
76% need expertise to scale.
02
End-to-End Partnership
Committed to supporting growth at every stage—from initial investment through to exits.
43% reach exits with partners.
03
Beyond Capital
Offering strategic guidance and operational support to drive success beyond funding.
72% value support equally to funding.
About Us
Empowering the Future of Medical Technology: Strategic Investments to Accelerate Innovation and Transform Patient Care
Our Commitment to Innovation and Growth
Key Metrics That Drive Our Strategic Growth and Value Creation
Our Vision
Partnering to scale life sciences and deep tech from concept to market.
Our Mission
Supporting growth from pre-seed to Series B with strategic expertise.
Founder Collaboration
Working alongside founders to deliver more than just capital.
Strategic Expertise
Guiding startups through life sciences and deep tech challenges.
Vast Network
Connecting companies with co-investors and key resources.
End-to-End Support
Driving growth from Day 1 to IPO with long-term commitment.
“
For over two decades, Olivier Belenger led the strategic management of the Theodorus Fund under the Theodorus-ULB spin-off initiative, overseeing its evolution and performance alongside his trusted team. Entrusted with this mandate since its inception, Bélenger helped shape the fund’s identity across cycles, regions, and sectors. Today, that same team embarks on a new chapter with the launch of Seido Capital, bringing their seasoned expertise and disciplined investment philosophy to a new venture in North America.
Seido Capital
Impact Statement
Key Milestones
Pivotal Moments Shaping Our Journey
2003
Theodorus I, the evergreen fund of the Université Libre de Bruxelles.
# of Exits
18
DPI
4.4x
Fund Size
6.8M$
2006
Theodorus II, focused on Life Sciences and Engineering spin-offs from ULB, either in seed or early stages.
# of Exits
9
DPI
1.9x
Fund Size
8.1M$
2012
Theodorus III, focused on Life Sciences and Engineering spin-offs and startups, either in seed or early stages, mostly coming from ULB. Theodorus IIIalso invests up to 15% of its funding outside ULB scope.
# of Exits
18
DPI
3.0x
Fund Size
30.5M$
2018s
Theodorus IV, dedicated to spin-offs (whether or not from ULB). It focuseson financing seed and early-stage life sciences and high tech companies. Reflecting a transformation into a North American-focused fund based in Canada.
# of Exits
4
TPI
2.8x
Fund Size
62.5M$
2024
Birth of Seido Capital, replicating the successful European model in North America. Seido Capital has taken over the management contract for Theodorus IV (in divestment) in 2025.
# of Exits
DPI
Fund Size
70.0M$
How We Create Value for Life sciences
Our mission is to identify and support visionary entrepreneurs and forward-thinking companies within the life sciences and broader healthcare industries. We focus on three core sub-sectors:
Biotech
Advancing cutting-edge research, therapeutics, and technologies that push the boundaries of medical science.
Life sciences
Developing next-generation medical devices, diagnostics, and digital health tools to improve patient outcomes and streamline care.
AI
Leveraging artificial intelligence and data-driven insights to revolutionize healthcare delivery, accelerate research, and enhance clinical decision-making.
Across Continents
Seido Capital is not just a new venture—it’s the evolution of excellence. Emerging from two decades of evolution, the management and leadership, led by Olivier and Theo, have transitioned from the original Belgian-based Theodorus Blueprint to establish this bold North American initiative.
Building on the foundation laid by Theodorus, Seido Capital embodies the same spirit, proven methodologies, and unparalleled commitment while embracing a fresh vision, driven by new ambitions. Our proximity to the US and major pharma and Life sciences hubs provides us with a strategic advantage, allowing us to foster the next generation of innovators and build transformative companies.
This North American venture is more than a continuation—it’s a reinvention. With trust, innovation, and decades of success as its cornerstone, Seido Capital bridges the legacy of Theodorus with the opportunities of tomorrow, creating a powerhouse in the global VC landscape.
Building a Network of Strategic Partnerships
Our partnerships provide capital, credibility, connections, and unmatched support to our portfolio companies.
Investments from Our Team
We partner with visionary thinkers reshaping the healthcare industry. Our investments spans innovative companies pioneering breakthroughs in medical therapies and solutions designed to tackle critical healthcare challenges with clarity, precision, and purpose.
Active Companies
15
Successful Exits
28
Numbers of Deals
54
Under Management
150.0M$
Case Studies
Showcasing Impactful Success Stories from Our Portfolio
A brief narrative of the company's growth and exit journey. In 2015, our team led CluePoints' €6M seed financing at a time when CluePoints was generating under €1M in annual revenue. Over the years, the company rapidly expanded, attracting a 25% stake acquisition from Summit Partners in 2020 at an €85M valuation. By 2024, CluePoints' revenues reached €50M, culminating in a majority acquisition by Swedish giant EQT at a valuation exceeding €500M. (Theodorus III)
# of Exits
1 (Full)
MOIC
33.2x
Amount Invested
€1.1M
IRR
~50%
“
Our investment in CluePoints stands as a testament to our team's commitment to identifying high-potential ventures that deliver transformative performance.
A story of transformation from academic research to a global leader in advanced cell therapy manufacturing. In 2011, MaSTherCell started as an academic project supported by Biopark, focusing on market potential studies and company structuring. With our team's financing and guidance, the company grew rapidly, achieving major milestones: an acquisition by Orgenesis in 2015 for €19M and significant operational scaling. By 2021, MaSTherCell's valuation reached €291M, culminating in a strategic acquisition by Catalent. (Theodorus II & III)
# of Exits
1 (Full)
MOIC
15.3x
Amount Invested
€12M
IRR
~47%
“
Our investment in MaSTherCell illustrates our team's ability to transform academic research into global market leaders, driving innovation and delivering exceptional returns.
Our Investment Approach: Precision, Vision, and Impact
Seido Capital’s methodology is driven by a profound commitment to excellence in the life sciences and deep tech sectors. We invest in healthcare where many of the sector’s greatest challenges are being tackled by unprecedented technological discoveries and evolving market shifts. We focus on projects with high growth potential, rapid international expansion, and a clear path toward mid-term exits— empowering them to become future global leaders in healthcare. Each step of our investment process is designed to provide targeted support, insight, and capital, transforming groundbreaking ideas into market-leading solutions while ensuring meaningful impact for patients and stakeholders alike.
Five Core Phases
Key Metrics That Drive Our Strategic Growth and Value Creation
Project Reinforcement
01
Seido Capital places a strong emphasis on reinforcing early-stage projects by partnering closely with incubators, academic institutions, and industry experts— ensuring that promising ideas have the right foundation for success. We start building relationships before companies even exist, scouting breakthrough technologies in universities and research centers, following their progress, and providing advisory support until these initiatives become VC-ready. During this phase, we offer hands-on guidance to nurture growth, unlock each project’s potential, and validate its scientific rigor.
Qualification
02
Our qualification process is defined by a rigorous and meticulous approach. Seido’s management team employs a comprehensive vetting system, carefully assessing each potential investment opportunity. This includes a deep alignment with Seido’s investment criteria, which emphasizes technological innovation, market potential, and the strength of the founding team. Only the projects that align with our precise standards proceed to the next phase, ensuring that each investment aligns with our vision for transformative impact.
Investment Committee Presentation
03
This phase represents the core of Seido’s decision-making process. Each vetted project is presented to an investment committee comprised of senior experts in finance, M&A, and the building of companies from idea to acquisition or IPO— several of whom have led biopharma or medical device ventures. In this thorough evaluation, the committee applies Seido’s exacting standards to assess strategic fit, potential for long-term growth, and alignment with our broader healthcare vision. This step not only refines our focus but also ensures that every investment we pursue is grounded in solid evidence and supported by extensive industry expertise.
Deal Structuring
04
At Seido, structuring a deal is more than just securing capital—it’s about crafting the right funding strategy for sustainable growth. We balance both dilutive and non-dilutive capital, carefully considering the needs of the company and the interests of our partners. This phase highlights our ability to bring together complementary funding sources, ensuring that our portfolio companies have the financial resources they need without compromising their long-term value.
Closing and Investment
05
The final phase is where commitment turns into action. Seido Capital not only closes the deal but steps into a long-term partnership, offering continuous support as the company scales. Our involvement doesn’t end with the investment—we remain actively engaged, providing strategic guidance, leveraging our network, and assisting with operational needs. Our goal is to drive each company towards successful exits, whether through IPOs, acquisitions, or other significant milestones.
Meet the Minds Behind Seido Capital
At Seido Capital, our strength lies in the precision and dedication of our team. Each member brings a unique expertise that drives transformative growth in life sciences and deep tech sectors.
Our Team
A team of passionate experts committed to shaping the future of life sciences and deep tech. Combining decades of experience, strategic insight, and a shared mission to empower groundbreaking innovation.
We’re here to connect and support your venture.
Office Locations
Brussels Office
Montreal Office
General Email
contact@seidocapital.com