Capricorn Partners

Gradyent is an AI cloud platform based in Utrecht, The Netherlands, that specializes in optimizing heating systems for district heating companies. Founded in 2019, Gradyent leverages Digital Twin technology, which involves creating a digital replica of physical heating systems by integrating geographical, weather, and sensor data with physical models and artificial intelligence. This innovative approach allows for real-time optimization of heating systems and facilitates simulations of future scenarios. As a result, clients can achieve significant reductions in heat loss, CO2 emissions, and fuel costs—averaging 20%, 10%, and 5-10%, respectively. Gradyent's platform not only enhances the efficiency of heating networks but also provides dynamic forecasting, real-time status updates, and automatic detection of network changes, allowing clients to securely access vital information from any location at any time.

Minze Health is a Belgian healthtech startup founded in 2015 and headquartered in Antwerp. The company specializes in developing digital health solutions aimed at addressing urinary tract problems, particularly focusing on urologic, pelvic health, and continence care. Its platform facilitates the diagnostic and treatment processes, as well as remote patient monitoring for individuals suffering from lower urinary tract symptoms (LUTS). Minze Health's innovative solutions are utilized by hospitals, urology practices, and pelvic floor rehabilitation centers around the globe, enabling healthcare professionals to effectively diagnose and monitor their patients both in clinical settings and private practices.

Chainels is a comprehensive tenant experience platform designed for multi-tenant environments such as shopping centers, mixed-use developments, offices, and residential complexes. Based in Rotterdam, the company aims to enhance communication and tenant retention by providing an intuitive app that facilitates the management of operations, amenities, and data reporting. The platform enables stakeholders to streamline property management processes and deliver high-quality services to tenants. Chainels serves over 400 communities, encompassing around 50,000 companies and households across multiple countries. Its client base includes notable organizations like Multi Corporation, Amvest/Fuzer, and CBRE, highlighting its impact on improving tenant experiences and operational efficiency in various property types.

Minze Health is a Belgian healthtech startup founded in 2015 and headquartered in Antwerp. The company specializes in developing digital health solutions aimed at addressing urinary tract problems, particularly focusing on urologic, pelvic health, and continence care. Its platform facilitates the diagnostic and treatment processes, as well as remote patient monitoring for individuals suffering from lower urinary tract symptoms (LUTS). Minze Health's innovative solutions are utilized by hospitals, urology practices, and pelvic floor rehabilitation centers around the globe, enabling healthcare professionals to effectively diagnose and monitor their patients both in clinical settings and private practices.

Gradyent is an AI cloud platform based in Utrecht, The Netherlands, that specializes in optimizing heating systems for district heating companies. Founded in 2019, Gradyent leverages Digital Twin technology, which involves creating a digital replica of physical heating systems by integrating geographical, weather, and sensor data with physical models and artificial intelligence. This innovative approach allows for real-time optimization of heating systems and facilitates simulations of future scenarios. As a result, clients can achieve significant reductions in heat loss, CO2 emissions, and fuel costs—averaging 20%, 10%, and 5-10%, respectively. Gradyent's platform not only enhances the efficiency of heating networks but also provides dynamic forecasting, real-time status updates, and automatic detection of network changes, allowing clients to securely access vital information from any location at any time.

Finquest is a leading deal origination provider that specializes in delivering personalized connections for clients seeking mergers and acquisitions (M&A) and direct investment opportunities across Europe, North America, and the Asia-Pacific region. Utilizing a unique database and advanced machine learning techniques, Finquest offers targeted and curated introductions, facilitating a more efficient deal-making process while ensuring complete confidentiality. The company's platform focuses on the middle market, connecting institutional investors with potential investment opportunities and enabling corporate buyers to identify relevant acquirers. Headquartered in Singapore, Finquest operates offices in key financial centers including New York, Dallas, London, Paris, Frankfurt, Luxembourg, Bangalore, and Hong Kong, broadening market access for its clients.

Sensolus NV specializes in the design and development of GPS trackers for non-powered assets, providing comprehensive tracking solutions directly from the cloud. Established in 2013 and based in Ghent, Belgium, the company offers a range of low-power, context-aware sensing technologies, including its STICKNTRACK product line. Sensolus combines hardware GPS trackers with a fully integrated cloud application, enabling users to manage and monitor their assets with ease. The company serves various industries, including manufacturing, waste management, cargo transport, logistics, and automotive, focusing on delivering real-time information and maintenance-free asset tracking solutions.

Gradyent is an AI cloud platform based in Utrecht, The Netherlands, that specializes in optimizing heating systems for district heating companies. Founded in 2019, Gradyent leverages Digital Twin technology, which involves creating a digital replica of physical heating systems by integrating geographical, weather, and sensor data with physical models and artificial intelligence. This innovative approach allows for real-time optimization of heating systems and facilitates simulations of future scenarios. As a result, clients can achieve significant reductions in heat loss, CO2 emissions, and fuel costs—averaging 20%, 10%, and 5-10%, respectively. Gradyent's platform not only enhances the efficiency of heating networks but also provides dynamic forecasting, real-time status updates, and automatic detection of network changes, allowing clients to securely access vital information from any location at any time.

iSTAR Medical SA is a Belgian company specializing in the development of innovative ophthalmic implants aimed at treating glaucoma. Founded in 2010 as a spinout of Healionics Corporation, the company has established a strong presence in the market with its flagship product, the STARflo glaucoma implant. This non-degradable, micro-porous drainage system reduces intraocular pressure in patients with open-angle glaucoma by enhancing the eye's natural uveoscleral outflow. iSTAR Medical also offers additional products, including STARflo PLUS and STARflo MINI, which provide surgical therapies for glaucoma. The implants are designed to integrate with surrounding tissue, exhibiting anti-fibrotic and anti-inflammatory properties, thereby minimizing complications and the need for medication. The company operates from its eco-friendly R&D and manufacturing facility in Belgium and distributes its products across various international markets, including Australia, China, France, Hungary, Italy, Poland, and Turkey. iSTAR Medical has received multiple quality certifications, including ISO 13485 and ISO 9001, and achieved CE Mark approval for its devices.

Arkite NV, founded in 2015 and based in Genk, Belgium, specializes in manufacturing automation products designed to enhance operational efficiency in manufacturing environments. Their flagship product, the Human Interface Mate (HIM), aids operators by providing real-time warnings for incorrect operations and guiding them towards standardized work processes. The company emphasizes the importance of a dedicated team with expertise in industrial engineering, lean thinking, and process innovation. In addition to their product offerings, Arkite provides professional services, including process innovation consultancy, integration services, training, and support during the startup phase. They also assist clients with time studies for technology innovation, knowledge management to improve quality systems, and organizational innovations aimed at reducing throughput times.

icometrix is a company that specializes in the analysis of brain MRI scans to enhance personalized care for patients with neurological disorders. Founded in 2011 as a spin-off from the universities and university hospitals of Leuven and Antwerp, icometrix is headquartered in Leuven, Belgium, with an additional office in Boston, USA. The company has developed MSmetrix, a tool that identifies brain lesions, measures lesion volume, and assesses whole brain and grey matter volume and atrophy. MSmetrix has received market approval in the EU and several other countries, with FDA clearance pending. icometrix is recognized as a leader in MRI biomarkers for routine clinical practice and is certified in quality management and information security. Additionally, the company provides image analysis services for clinical trials and research studies, utilizing its software-as-a-service model to process large volumes of brain imaging data. This approach aids in advancing research on various neurological conditions, including traumatic brain injury, epilepsy, Alzheimer’s disease, and stroke, by using imaging biomarker outcomes as key endpoints in drug development.

Confo Therapeutics is a drug discovery company based in Brussels, Belgium, founded in 2015. The company focuses on developing internal drug discovery programs centered on G-protein coupled receptors (GPCRs), which are critical targets for therapeutic intervention. Utilizing its proprietary CONFO technology, Confo Therapeutics stabilizes active-state conformations of GPCRs, enabling researchers to access previously unreachable structural features. This innovation facilitates the discovery of novel agonists, addressing unmet medical needs and potentially leading to improved treatments in the medical field. The company aims to build a robust portfolio of drug discovery programs, leveraging its unique approach to enhance therapeutic options.

NGDATA, headquartered in Ghent, Belgium, specializes in consumer intelligence management solutions. The company offers a customer data platform that integrates big data management and machine learning technologies, providing real-time insights and enabling personalized customer experiences. NGDATA serves various industries, including finance, retail, and media, with offices in Belgium, France, Singapore, and the United States.

Arkite NV, founded in 2015 and based in Genk, Belgium, specializes in manufacturing automation products designed to enhance operational efficiency in manufacturing environments. Their flagship product, the Human Interface Mate (HIM), aids operators by providing real-time warnings for incorrect operations and guiding them towards standardized work processes. The company emphasizes the importance of a dedicated team with expertise in industrial engineering, lean thinking, and process innovation. In addition to their product offerings, Arkite provides professional services, including process innovation consultancy, integration services, training, and support during the startup phase. They also assist clients with time studies for technology innovation, knowledge management to improve quality systems, and organizational innovations aimed at reducing throughput times.

Sensolus NV specializes in the design and development of GPS trackers for non-powered assets, providing comprehensive tracking solutions directly from the cloud. Established in 2013 and based in Ghent, Belgium, the company offers a range of low-power, context-aware sensing technologies, including its STICKNTRACK product line. Sensolus combines hardware GPS trackers with a fully integrated cloud application, enabling users to manage and monitor their assets with ease. The company serves various industries, including manufacturing, waste management, cargo transport, logistics, and automotive, focusing on delivering real-time information and maintenance-free asset tracking solutions.

NGDATA, headquartered in Ghent, Belgium, specializes in consumer intelligence management solutions. The company offers a customer data platform that integrates big data management and machine learning technologies, providing real-time insights and enabling personalized customer experiences. NGDATA serves various industries, including finance, retail, and media, with offices in Belgium, France, Singapore, and the United States.

Diagenode is an international life sciences company established in 2003 in Liège, Belgium, with a presence in Sparta, New Jersey, and a sales office in the United Kingdom. The company specializes in developing and commercializing advanced instruments and reagent systems for life science research and molecular diagnostics. Diagenode offers a technology platform that includes Bioruptor shearing and IP-Star automation instruments, along with reagent kits and quality antibodies. These products are designed to enhance workflows in epigenetics research, biological sample preparation, and diagnostic assays, serving a diverse clientele that includes prominent epigenetics researchers, academic institutions, genome centers, core laboratories, and pharmaceutical and biotechnology companies.

iSTAR Medical SA is a Belgian company specializing in the development of innovative ophthalmic implants aimed at treating glaucoma. Founded in 2010 as a spinout of Healionics Corporation, the company has established a strong presence in the market with its flagship product, the STARflo glaucoma implant. This non-degradable, micro-porous drainage system reduces intraocular pressure in patients with open-angle glaucoma by enhancing the eye's natural uveoscleral outflow. iSTAR Medical also offers additional products, including STARflo PLUS and STARflo MINI, which provide surgical therapies for glaucoma. The implants are designed to integrate with surrounding tissue, exhibiting anti-fibrotic and anti-inflammatory properties, thereby minimizing complications and the need for medication. The company operates from its eco-friendly R&D and manufacturing facility in Belgium and distributes its products across various international markets, including Australia, China, France, Hungary, Italy, Poland, and Turkey. iSTAR Medical has received multiple quality certifications, including ISO 13485 and ISO 9001, and achieved CE Mark approval for its devices.

NGDATA, headquartered in Ghent, Belgium, specializes in consumer intelligence management solutions. The company offers a customer data platform that integrates big data management and machine learning technologies, providing real-time insights and enabling personalized customer experiences. NGDATA serves various industries, including finance, retail, and media, with offices in Belgium, France, Singapore, and the United States.

Ogeda SA is a clinical-stage drug discovery company based in Gosselies, Belgium, that focuses on inventing and developing small molecule drugs that target G-Protein Coupled Receptors (GPCRs). The company's lead product, fezolinetant, is currently in Phase II clinical development for treating women's health disorders. In addition to fezolinetant, Ogeda is developing other small molecules aimed at addressing various therapeutic areas, including inflammatory and autoimmune diseases. Founded in 1994 and formerly known as Euroscreen, Ogeda operates additional facilities in Brussels, Belgium, and Paris, France. The company is a subsidiary of Astellas Pharma Inc. and is supported by prominent investors in the biotechnology sector.

Avantium is a Dutch technology company specializing in advanced high-throughput research and development for energy, chemicals, and pharmaceutical industries. Headquartered in Amsterdam with state-of-the-art laboratories, Avantium's proprietary technology accelerates product and process innovation while reducing costs. With over 70 global clients, including industry leaders, Avantium has proven its technology's validity and commercial viability. The company focuses on developing new biofuels, bio-based chemicals, and novel crystal forms of marketed drugs under patent. Its team comprises highly educated professionals in catalysis, crystallography, organic chemistry, engineering, statistics, cheminformatics, and software development, collaborating closely with partner R&D organizations to drive innovation.

iSTAR Medical SA is a Belgian company specializing in the development of innovative ophthalmic implants aimed at treating glaucoma. Founded in 2010 as a spinout of Healionics Corporation, the company has established a strong presence in the market with its flagship product, the STARflo glaucoma implant. This non-degradable, micro-porous drainage system reduces intraocular pressure in patients with open-angle glaucoma by enhancing the eye's natural uveoscleral outflow. iSTAR Medical also offers additional products, including STARflo PLUS and STARflo MINI, which provide surgical therapies for glaucoma. The implants are designed to integrate with surrounding tissue, exhibiting anti-fibrotic and anti-inflammatory properties, thereby minimizing complications and the need for medication. The company operates from its eco-friendly R&D and manufacturing facility in Belgium and distributes its products across various international markets, including Australia, China, France, Hungary, Italy, Poland, and Turkey. iSTAR Medical has received multiple quality certifications, including ISO 13485 and ISO 9001, and achieved CE Mark approval for its devices.

Trod Medical S.A. is a medical device manufacturer founded in 2006, with headquarters in Leuven, Belgium, and the Tampa Bay area, USA. The company specializes in innovative ablation technologies, particularly in developing radiofrequency (RF) ablation devices. One of its key products, the EncageTM, is a percutaneous RF device designed to precisely ablate soft tissues, minimizing collateral damage during procedures. This technology is particularly significant in the treatment of prostate cancer, a prevalent condition with approximately 240,000 new cases diagnosed annually in the United States. Traditional treatments often lead to severe side effects, such as erectile dysfunction and urinary incontinence, highlighting the importance of Trod Medical's advancements. The company's devices enable healthcare providers to perform endoscopic surgeries with predictable ablation volumes and reduced tissue damage, aiming to improve patient outcomes in a critical area of medical care.

NGDATA, headquartered in Ghent, Belgium, specializes in consumer intelligence management solutions. The company offers a customer data platform that integrates big data management and machine learning technologies, providing real-time insights and enabling personalized customer experiences. NGDATA serves various industries, including finance, retail, and media, with offices in Belgium, France, Singapore, and the United States.

Trinean is a Belgium-based technology provider that specializes in micro-volume molecular spectroscopy. Founded in 2006 as a spin-out from Ghent University and Imec Leuven, the company develops UV/VIS spectrometers tailored for biomolecule quantification. Its products, the DropSense™16 and DropSense™96, can analyze up to 16 and 96 samples, respectively, utilizing microfluidic chips for standardized sample analysis. These instruments are designed to enhance data interpretation and facilitate laboratory automation, making them valuable tools for biologics researchers. Trinean combines its advanced analytical hardware with a comprehensive software toolbox to optimize the performance of its spectrometers.

EpiGaN is a Leuven, Belgium-based company that specializes in the development of Gallium Nitride on Silicon (GaN) wafers. The company produces III-nitride epitaxial materials, primarily gallium nitride, which are known for their high power efficiency and reduced power losses. These materials are suited for a range of commercial applications, including AC drives, uninterruptible power supply (UPS) inverters, and hybrid and electric vehicles. EpiGaN's innovative technology aims to enhance performance and efficiency in various electronic systems.

Ducatt NV is a clean-tech start-up located in Belgium that specializes in the manufacturing of solar glasses. These ultra-clear patterned glasses are designed to enhance the efficiency of solar systems, offering various thicknesses to meet different client needs. Ducatt's products aim to make solar technology more accessible and affordable, contributing to the growing demand for sustainable energy solutions.

Anteryon International, established in 2006, is a Netherlands-based company specializing in the design, manufacture, and distribution of high-precision optical solutions. It offers a wide range of products, including various types of lenses, laser modules, optical mirrors, filters, and custom opto-mechatronic assemblies. Serving diverse sectors such as medical, telecom, defense, and semiconductor industries, Anteryon caters to over 100 global customers. Its unique replication and opto-mechanical assembly technology, along with deep expertise in coatings and precision glass, enables the company to deliver optical solutions from components to finished products. Anteryon operates as a subsidiary of China Wafer Level CSP Co., Ltd.

Avantium is a Dutch technology company specializing in advanced high-throughput research and development for energy, chemicals, and pharmaceutical industries. Headquartered in Amsterdam with state-of-the-art laboratories, Avantium's proprietary technology accelerates product and process innovation while reducing costs. With over 70 global clients, including industry leaders, Avantium has proven its technology's validity and commercial viability. The company focuses on developing new biofuels, bio-based chemicals, and novel crystal forms of marketed drugs under patent. Its team comprises highly educated professionals in catalysis, crystallography, organic chemistry, engineering, statistics, cheminformatics, and software development, collaborating closely with partner R&D organizations to drive innovation.

iNEWiT is an engineering company based in Mechelen, Belgium, founded in 2005. The company specializes in identifying, designing, and creating applications and devices for the mobile market. It develops mobile video communication applications and offers a range of wireless communication technologies, including GPRS/EDGE, 3G, HSDPA/HSUPA, WiFi, WiMAX, and satellite networks. iNEWiT's products utilize patent-pending technology to transmit data, video, and sound across various wireless and wired environments and platforms. Additionally, the company provides plug-and-play products tailored for the business-to-consumer markets.

MAPPER Lithography B.V. specializes in developing maskless lithography infrastructure for the semiconductor industry. Founded in 2000 and headquartered in Delft, the Netherlands, the company designs and manufactures tools that utilize multiple electron-beam technology for semiconductor production. This innovative approach enables the fabrication of chips without the need for traditional masks, streamlining the manufacturing process. MAPPER Lithography also operates a manufacturing facility in Moscow, Russia, further supporting its capabilities in the semiconductor sector.

Gemidis is a spin-off company from Ghent University (Belgium) and IMEC (Belgium) and was officially founded in August 2004. Gemidis develops, produces and sells LCOS imagers and driver electronics for both consumer and professional markets.

TiGenix NV is a Belgium-based biomedical company specializing in innovative treatments for damaged and osteoarthritic joints. Founded as a spin-off from the Catholic University of Leuven and the University of Ghent, TiGenix leverages regenerative medicine to create durable therapies validated through controlled clinical studies. The company focuses on developing a portfolio of products aimed at addressing specific musculoskeletal issues, with a primary emphasis on cartilage damage, which significantly impairs patient mobility and function. TiGenix also explores the anti-inflammatory properties of stem cells to create novel therapies for serious medical conditions, particularly in areas where there is a high unmet medical need.