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Gemma Frisius Fund

Waaistraat 6, Leuven, Vlaams-Brabant, 3000, Belgium

Overview

On July 3, 2002 the Gemma Frisius Fund II was established. Continuing the work of its predecessor Gemma Frisius Fund I, this is a venture capital fund providing seed capital and start-up capital to spin-off companies intending to commercialize knowledge and research developed at K.U.Leuven. Following the success of the first edition of the Fund, the three partners - Fortis Private Equity, KBC Investco and K.U.Leuven Research & Development - unanimously decided to extend this unique form of cooperation between the academic and financial worlds. The Gemma Frisius Fund I invested in 15 projects, for a total value of 8 million eur. The fund still has 4.4 million eur available for follow-up investment in these projects. The new fund will not invest in companies belonging to the portfolio of the first edition of the fund. The management structure of the Gemma Frisius Fund II will remain the same. The projects are analyzed in an advisory committee and presented for approval to the board of directors. Two directors from each partner are represented on the board.

Total investments
16
Lead investments
0
Investments · 12mo
2
Active investors
2
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Investment portfolio

  • Optiflux

    Participated · Equity · Jul 2026

    Optiflux develops an AI, computer vision, and predictive-analytics platform to digitise, objectify, and standardise quality assessment for fresh fruit and vegetables. Its technology is deployed across a broad range of fruit categories including apples, pears, berries, citrus, cherries, and stonefruit. The company says its platform enables more accurate shelf-life prediction, optimized storage strategies, and greater transparency and product valuation across the supply chain. In 2025 Optiflux quintupled its customer base, and its solutions are now used by operators in 16 countries across Europe, North America, and South America. Optiflux plans to use the newly raised funds to accelerate international deployment, continue product development, and expand its commercial presence in key fruit-producing regions.

  • Runeasi

    Participated · Equity · Feb 2026

    Spun out of KU Leuven, Runeasi combines a belt-mounted motion sensor with AI software to capture runners’ biomechanical data and instantly generate personalised rehabilitation, training, and exercise reports. The product eliminates the need for costly lab equipment, allowing clinics, coaches, and running retailers to run quick, objective running and jumping analyses. Runeasi has completed more than 50,000 running analyses and is already used in over 40 countries, with the United States representing its largest market. Beyond practitioners, the platform supports sports footwear brands by enabling efficient product testing and scientific validation. The company positions itself as a bridge between academic research and practical sport-science tools, emphasising scientific integrity over AI hype. Recent recognition as one of Belgium’s fastest-growing AI scale-ups underscores its market traction. The fresh capital is earmarked for accelerating international growth, particularly in the U.S., while maintaining strong support for its Belgian customer base.

  • Augustine Therapeutics

    Participated · Series A · Mar 2025

    Augustine Therapeutics develops selective inhibitors of the cytosolic histone deacetylase 6 (HDAC6) enzyme for chronic indications. Its lead program, AGT-100216, is described as the first selective HDAC6 inhibitor designed for long-term treatment of Charcot-Marie-Tooth (CMT) disease. The company highlights a non-hydroxamate, non-hydrazide chemotype intended to provide selectivity and avoid limitations of other chemotypes, and says the approach is built for chronic diseases. Augustine plans to use newly raised capital to advance AGT-100216 through a Phase I/II proof-of-concept clinical trial in CMT. The company targets neuromuscular, neurodegenerative and cardio-metabolic diseases with this selective HDAC6 approach. Augustine is led by CEO Gerhard Koenig and was founded on research by Prof. Ludo Van Den Bosch at VIB-KU Leuven in Belgium. The recent financing strengthens its balance sheet to support clinical development. Augustine Therapeutics is developing novel, potent, subtype-selective small-molecule inhibitors of the cytosolic HDAC6 enzyme targeting neurodegenerative and cardiometabolic diseases. Its lead candidate, AGT100216, is a peripherally restricted selective HDAC6 inhibitor that has shown impressive preclinical efficacy in Charcot‑Marie‑Tooth (CMT) studies and peripheral neuropathies induced by chemotherapy (CIPN). The company’s chemistry is distinct from first-generation hydroxamate-based HDAC6 inhibitors and is designed to safely and selectively reverse pathophysiological changes associated with neuromuscular and neurodegenerative diseases. Augustine plans to advance AGT100216 into a Phase 1/2 first-in-human clinical trial in 2025 and to develop next-generation candidates with peripheral-restricted or brain-penetrant properties. Proceeds from the financing will also support expansion of the executive and R&D teams. Augustine was founded in 2019 as a VIB-KU Leuven spin-off and is based in Leuven, Belgium. Augustine Therapeutics is focused on the discovery and development of innovative therapeutics for Charcot‑Marie‑Tooth disease (CMT) and other neuromuscular disorders. The company is rooted in research from the VIB–KU Leuven labs of Ludo Van Den Bosch and collaborations between the labs of Joris de Wit and Bart De Strooper, which uncovered biological pathways and therapeutic targets in peripheral neuropathies. VIB Discovery Sciences is leading the preclinical development of Augustine’s new therapeutics and will apply industry-trained drug discovery expertise to the early pipeline. Augustine completed a €4.2 million seed financing to support target validation and early-stage development. Day-to-day interim management is being handled by Ward Capoen (V-Bio Ventures) and Jérôme Van Biervliet (VIB) while the company seeks a dedicated management team. The company aims to advance validated targets toward novel treatments that address the limited therapeutic options for CMT patients.

  • Protealis

    Participated · Series B · Jan 2024

    Founded in 2021, Protealis is a European ag-tech company focused on breeding early-maturing, high-protein soybean varieties and delivering complementary seed-technologies. Its flagship product, MagNfix™, is a factory-applied soybean seed coating that contains a locally adapted Bradyrhizobium strain able to remain biologically active in temperate Western European conditions. Multi-year field trials show the coating consistently raises yield and protein content compared with existing inoculants, helping farmers overcome Europe’s lack of native nitrogen-fixing bacteria. The company positions its solution as a way to reduce Europe’s dependence on more than 34 million tonnes of imported soy each year. With rising demand for locally grown, non-GMO protein, Protealis aims to commercialise MagNfix™ at scale while continuing to expand its portfolio of soybean genetics. The new VLAIO funding enables team growth and industrial readiness, accelerating market entry. No revenue or user figures were disclosed, but the firm highlights Europe’s 3 million-tonne soybean production in 2024 as its immediate addressable market.

  • FOx Biosystems

    Participated · Equity · Jan 2023

    Fox BIOSYSTEMS has developed the White FOx, a fiber‑optic SPR system that uses a microfluidics‑free dip‑in protocol for fast, user‑friendly sensing. The White FOx eliminates clogging and cross‑contamination with complex samples (lysates, whole blood, large particles) and supports interchangeable sensor probes with multiple surface chemistries. Its platform can detect antibodies, nanobodies, microvesicles, phages and large particles and enables kinetic affinity analysis, label‑free quantification and rapid ultra‑sensitive sandwich assays on unpurified samples. The company positions the product for broad use in life‑science and biopharmaceutical research labs. Fox BIOSYSTEMS says the new capital will be used to scale operations, accelerate development into new application areas and boost commercialisation. The company is based in Diepenbeek, Belgium, and describes a mission to revolutionize life‑science and pharmacological research with real‑time, label‑free analysis products. The announcement notes recent external support including an EIC grant alongside this financing.

Team

  • Rudi Cuyvers

    Partner

  • Paul Van Dun

    Managing Director

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