About White Fund


White Fund is a Belgian venture capitalist fund specifically dedicated to the medtech sector. White Fund has a financial capacity of €38 million and plans to finance about ten of the most promising projects in Belgium.

White Fund positions itself as a high value-added investment fund. In addition to its finance mission, White Fund aims to support companies in the key stages of their development. Its multi-disciplinary team and extensive network, with experience of both medtech expertise and the world of investment, are key assets for portfolio companies.

White Fund also aims to impact the medtech sector in Belgium, by enriching the existing eco-system, attracting high-level projects/skills, encouraging different players within the sector to work together and exploit their synergies, creating high-quality jobs and, above all, by supporting projects that have the potential to revolutionise the healthcare sector.

How the fund originated

White Fund originated from an initiative by two investment professionals, Joanna Tyrekidis and Benoit Fellin, who were then investment managers at the Noshaq investment fund.

They observed a significant increase in the deal flow for projects in the medtech sector and how difficult it was to protect these projects effectively during their early-stage development phases. Supported by successful entrepreneurs from the sector, as well as pioneering investment company Noshaq, they were joined by three professionnels from the life sciences sector and the world of investment, Michel Baijot, Philippe Stas and Philippe Felten, and also persuaded investors to come on board. White Fund was established in October 2019, and has an investment capacity of 38 millionn.

Value proposition

White Fund’s value proposition is based on two major pillars – its sectoral focus and its financial strength. This sectoral focus, which is 100% medtech, goes hand-in-hand with a better understanding of key factors for the companies and enables it to provide the team with the right advice. This focus also makes it possible to develop and maintain a network of highly qualified experts who can contribute more actively to the development of the participating companies.

The financial strength of White Fund is linked both to its private nature (lever effect on non-dilutive funding sources, such as subsidies or recoverable advances) and its extremely solid shareholder base, together with the possibility of building up powerful investment consortiums.


White Fund’s shareholder base is one of its major strengths. It includes public, private, local and national shareholders with strong investment capacities. White Fund has also managed to win over partner investors, such as mutals and hospitals, which provide direct access to key opinion leaders and experts in the healthcare sector.

Key Strenghts

White Fund is more than a financial partner. Its main assets are:

Its solid and complementary team

Its extensive network of co-investors

Its access to skills and experts in the medtech sector

Its detailed knowledge of the medtech sector