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Venture Capital
capricorn.be

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Investments

108

Portfolio Exits

22

Funds

7

Partners & Customers

1

About Capricorn Partners

Capricorn Partners is an independent manager of private and quoted equity funds that invest in minority shareholding positions of innovative companies with technology as competitive advantage.

Capricorn Partners Headquarter Location

De Jonge St. Jocob Lei 19/1 - B-3000

Leuven, 3000,

Belgium

+32 (0)16 28 41 00

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Expert Collections containing Capricorn Partners

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Capricorn Partners in 1 Expert Collection, including Synthetic Biology.

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Synthetic Biology

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Latest Capricorn Partners News

Rio Tinto, others back electrolyser maker EH2 in raising USD 198m

Jun 24, 2022

EH2's co-founders. June 22 (Renewables Now) - Electric Hydrogen (EH2), a US developer of electrolysers for use in hard-to-decarbonise industries, has raised USD 198 million (EUR 187.7m) in a funding round led by Fifth Wall Climate Tech and with participation from industrial majors such as Rio Tinto. Other names that backed the Series B equity and venture debt round include S2G Ventures, Silicon Valley Bank, Trinity Capital, Amazon’s Climate Pledge Fund, Cosan, Equinor Ventures, Honeywell and Mitsubishi Heavy Industries, as well as existing investors Breakthrough Energy Ventures, Capricorn Partners, Energy Impact Partners and Prelude Ventures. EH2 designs electrolysis systems for the high-volume, low-cost production of fossil-free hydrogen required to support massive industrial operations, including in steel, ammonia and freight transport. More specifically, the firm focuses on building electrolyser systems with a minimum capacity of 100 MW. It says its technology works seamlessly with cheap variable renewable power and is able to vastly reduce the per-kg production cost of fossil-free hydrogen. EH2’s plants include the full stack of technology from electrolysers to the balance of plant components and while the company itself will not be engaged in project development, construction, or financing, it will be a partner in each customer project, it notes. The company intends to use the newly-secured capital for the scale-up of its high-throughput electrolyser technology and for the implementation of demonstration projects in North America and Europe next year. It is already running an electrolyser stack at its research facilities. EH2 is led by co-founders Raffi Garabedian and Dave Eaglesham, who are former executives at First Solar, as well as Dorian West, former engineering lead at Tesla, and Derek Warnick, former Company Builder at Breakthrough Energy Ventures. “Rio Tinto is investing in Electric Hydrogen to support the development of emerging technologies with the potential to help decarbonise our operations and supply chains. We produce materials that are increasingly required for our society’s transition to a low carbon future, so it is critical to pursue new ways to work towards net zero in supplying them,” commented Nigel Steward, chief scientist at mining giant Rio Tinto. (USD 1 = EUR 0.948)

Capricorn Partners Investments

108 Investments

Capricorn Partners has made 108 investments. Their latest investment was in Electric Hydrogen as part of their Series B on June 6, 2022.

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Capricorn Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/22/2022

Series B

Electric Hydrogen

Yes

2

5/10/2022

Series A

Zozio

$4.2M

Yes

2

4/29/2022

Private Equity

Econic Technologies

Yes

1

12/2/2021

Series B

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$99M

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10

10/22/2021

Seed VC

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$99M

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10

Date

6/22/2022

5/10/2022

4/29/2022

12/2/2021

10/22/2021

Round

Series B

Series A

Private Equity

Series B

Seed VC

Company

Electric Hydrogen

Zozio

Econic Technologies

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Amount

$4.2M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

2

1

10

10

Capricorn Partners Portfolio Exits

22 Portfolio Exits

Capricorn Partners has 22 portfolio exits. Their latest portfolio exit was c-LEcta on February 15, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/15/2022

Corporate Majority

$99M

6

6/1/2021

Acquired

$99M

6

3/1/2021

Acquired

$99M

12

6/18/2020

Acquired

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$99M

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10

5/13/2019

Acquired

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$99M

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10

Date

2/15/2022

6/1/2021

3/1/2021

6/18/2020

5/13/2019

Exit

Corporate Majority

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

6

6

12

10

10

Capricorn Partners Acquisitions

1 Acquisition

Capricorn Partners acquired 1 company. Their latest acquisition was Amplexor on March 18, 2013.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/18/2013

$99M

Management Buyout

1

Date

3/18/2013

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Management Buyout

Sources

1

Capricorn Partners Fund History

7 Fund Histories

Capricorn Partners has 7 funds, including Capricorn Digital Growth Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/3/2022

Capricorn Digital Growth Fund

$93.6M

1

1/7/2019

Capricorn Sustainable Chemistry Fund

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$99M

10

12/31/2012

Capricorn Health-tech Fund

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$99M

10

12/18/2012

Capricorn ICT Arkiv

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10

5/21/2008

Capricorn Cleantech Fund

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$99M

10

Closing Date

3/3/2022

1/7/2019

12/31/2012

12/18/2012

5/21/2008

Fund

Capricorn Digital Growth Fund

Capricorn Sustainable Chemistry Fund

Capricorn Health-tech Fund

Capricorn ICT Arkiv

Capricorn Cleantech Fund

Fund Type

Subscribe to see more

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Subscribe to see more

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Status

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Amount

$93.6M

$99M

$99M

$99M

Sources

1

10

10

10

10

Capricorn Partners Partners & Customers

1 Partners and customers

Capricorn Partners has 1 strategic partners and customers. Capricorn Partners recently partnered with Aconterra on October 10, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

10/7/2021

Partner

Belgium

Aconterra forms Strategic Partnership with Capricorn and invests € 10 million in Capricorn Digital Growth Fund - Capricorn Partners

The strategic partnership comes with a € 10 million capital increase by Aconterra into Capricorn Digital .

1

Date

10/7/2021

Type

Partner

Business Partner

Country

Belgium

News Snippet

Aconterra forms Strategic Partnership with Capricorn and invests € 10 million in Capricorn Digital Growth Fund - Capricorn Partners

The strategic partnership comes with a € 10 million capital increase by Aconterra into Capricorn Digital .

Sources

1

Capricorn Partners Team

3 Team Members

Capricorn Partners has 3 team members, including current Managing Partner, Jos B Peeters.

Name

Work History

Title

Status

Jos B Peeters

Managing Partner

Current

Steven Levecke

Investment Partner

Current

Tom Vanhoutte

Chief Financial Officer

Former

Name

Jos B Peeters

Steven Levecke

Tom Vanhoutte

Work History

Title

Managing Partner

Investment Partner

Chief Financial Officer

Status

Current

Current

Former

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