Pillar

About us

Founded in 2023, Belnord Capital is an independent alternatives investment firm established by a team with deep experience across leading global investment institutions.

We specialise in GP solutions, primarily across secondaries and co-investments, forging strategic partnerships with European mid-market private equity managers. With a hands-on investment approach and a strong network, we unlock high-quality deal flow. As committed investors, we invest significant capital into our own funds, ensuring alignment with our partners.

Headquartered in Stockholm, Sweden, Belnord Capital is shaping the next generation of European private markets investing.

Investment Strategy

Sponsor-led transactions

Continuation vehicles

Direct investments

CV-like co-investments

Other liquidity solutions

Selected portfolio investments

Syclef

Website
Specialising in the installation and maintenance of refrigeration and air conditioning systems

Sector:

Business Services

HQ:

France

Founded in 2003, Syclef is a leading European player in the installation and maintenance of refrigeration systems. The group is specialised in medium and large refrigeration installations, in industrial refrigeration (logistics platforms, storage warehouses, food processing, etc.), commercial refrigeration (supermarkets, convenience stores, etc.) and air conditioning.

The group's customer base relies on Syclef to manage its complex and critical refrigeration systems. The group benefits from a key player position in the energy transition, using innovative sustainable technologies such as natural refrigerant fluids.

Softway Medical

Website
Leading provider of mission critical, end-to-end healthcare IT systems

Sector:

Healthcare IT

HQ:

France

Founded in 2006, Softway Medical is a leading provider of mission critical, end-to-end healthcare IT systems with a strong French core and a growing international footprint. The company offers solutions that spans the entire patient pathway across both medical and administrative information systems.

The company operates through five core business units: Hospitals, Imaging, Laboratory, Ambulatory Care and Data & Analytics. Its flagship product is a modular, cloud-based Electronic Medical Record (EMR) system for hospitals, with broad functional coverage and an extensive suite of specialty modules.

DESOTEC

Website
Leading European provider of mobile activated carbon filtration solutions

Sector:

Industrial Tech

HQ:

Belgium

DESOTEC is a provider of mobile industrial filtration services, based on activated carbon that enables customers to comply with increasing environmental regulations and sustainability requirements. Founded in 1990, DESOTEC has pioneered the market for the purification of liquids and gases through mobile activated carbon filters.

During its 30 years in business, the company has established itself as a European market leader in this field. DESOTEC provides filtration services that enable its customers to comply with increased environmental regulations and sustainability requirements and to serve mission-critical filtration needs offering a flexible rental solution.

DESOTEC's fleet of mobile filters is the largest of its kind in Europe and it serves a broad range of industrial applications, including air emission, biogas, remediation, wastewater, and chemicals. The company’s mobile filters enable its customers to comply with environmental regulations and sustainability requirements, through its closed-loop, “Filtration-as-a-Service” rental solution.

Immedica

Website
Pharmaceutical company specialising in the commercialisation of medicines for rare diseases and specialty care

Sector:

Healthcare

HQ:

Sweden

Founded in 2018 with c. 120 employees, Immedica is engaged in the launch, commercialisation and distribution of orphan and niche specialty pharmaceuticals across Europe and the Middle East. Currently, Immedica distributes a portfolio of c. 25 drugs, spanning proprietary, in-licensed and partnered products with a focus on genetic and metabolic diseases, oncology, and ophthalmology.

Immedica is quickly scaling across Europe and recently entered the USA with a vision to become the leading player in launching niche specialty pharmaceuticals targeting diseases with high unmet medical needs.