Firms

ORSA Fund

ORSA Fund

Marche-en-Famenne, Belgium

orsafund.beinvestsud.be

ORSA Fund, formerly Investsud, is a Belgian evergreen investment institution supporting Walloon SMEs, biotechnology companies and technology start-ups through equity and quasi-equity. Its exact legal corporation is ORSA FUND SA, enterprise BE0424.971.945, incorporated November 28, 1983. The current website describes activity since 1985, while its registry and historical communications distinguish earlier legal formation. The brand changed on June 19, 2026 and the registered legal name on June 24, 2026, preserving the same institution, team and mission. It typically invests EUR 0.5–2.5 million with a flexible long-term horizon. Industry and innovation mandates span production, equipment, construction, healthcare, digital technology and sustainability. Its public directory lists eleven operating staff, with Philippe Degive as CEO and Stéphane Dantinne as Deputy CEO, and thirteen named board members under chair Françoise Jolly-de Vaucleroy. The venture investment vehicle ORSA TECH SA, enterprise BE0882.104.835, formerly Financière Spin-off Luxembourgeoise/Investsud Tech, is a distinct subsidiary corporation created in June 2006; its historical buyer identity must be qualified rather than merged with the parent or counted as a second treasury participation in the same round. Statutory capital, investment resources, cumulative holdings and deployment targets are not external LP fund closes. ORSA’s public 2026 discussion reports an evergreen model and a 74% private shareholder mix, with public partners comprising the balance; these are capital structure disclosures rather than cash financing rounds.

Founded
1983
Type
Venture capital

Funds1

  • ORSA TECH SA (formerly Financière Spin-off Luxembourgeoise / Investsud Tech)—

    Distinct Belgian venture investment subsidiary/fund corporation BE0882.104.835, constituted June 14, 2006 and registered ORSA TECH on June 24, 2026. Historical official Walloon list links Financière Spin-off Luxembourgeoise to the same enterprise number; parent ORSA FUND is a corporate director and Pierre Detrixhe its representative. Own historical group report describes a 50/50 Investsud/Walloon Region partnership. EUR 500,000 statutory capital is not an external fund close or paid proceeds. Fundraising amount and actual close date remain NULL; this is a legal vehicle record, not a duplicated parent treasury investor.

Team

Operations and support

Benjamin CupersBenjamin CupersInvestment Manager
Benoit CoppéeBoard Director
Bernadette DropsyBernadette DropsyOffice Manager
Christine XhauflaireChristine XhauflaireFacility Manager
Christophe FruytierBoard Director
Cindy DaussaintCindy DaussaintInvestment & Project Analyst
Emmanuel SchellekensBoard Director
Fabian CollardBoard Director
Françoise Jolly-de VaucleroyChair of the Board
Gilles KoestelGilles KoestelInvestment Manager
Jacques DeferBoard Director
Jean-Philippe MathieuJean-Philippe MathieuInvestment Manager
Laurence CalozetVice-Chair of the Board
Laurence CoulonLaurence CoulonInvestment Manager
Laurent LevauxBoard Director
Olivier MassonBoard Director
Philippe DegivePhilippe DegiveCEO
Pierre BernesBoard Director
Pierre DetrixhePierre DetrixheInvestment Manager
Pierre-Yves KarlshausenBoard Director
Stéphane DantinneStéphane DantinneDeputy CEO
Vincent BerghmansBoard Director
Xavier GoebelsBoard Director
Yannick ThomasYannick ThomasAccounting Manager

Co-investing

SFPIM
Newton Biocapital
Wallonie Entreprendre
Sambrinvest
TCD Capital

Investments