Beyond investment: Coronet Ventures on scaling healthcare innovation
Healthcare innovation that works in the Netherlands will not automatically succeed in the US. Different clinical needs, reimbursement models and ways of doing business can all stand in the way. For Coronet Ventures, bridging that gap is a central part of its role.
One year after the launch of Coronet Ventures Netherlands, Investment Director Koen van Breugel reflects on what makes healthcare innovation investable, what Dutch companies need to successfully enter the US market, and the opportunities he sees for Rotterdam’s Life Sciences & Health ecosystem.
Van Breugel’s own route into healthcare investing started in science. Trained as a scientist with a focus on regenerative medicine and bioengineering, he spent time conducting research at the Wyss Institute at Harvard University.
“I realised that the pace of fundamental research was a bit too slow for my liking,” he says. “I wanted to transition into something more industry-focused, closer to the patients and real-world outcomes.”
After moving into consulting, he was introduced to venture capital. Today, as Investment Director for Coronet Ventures Netherlands, he is responsible for the fund’s Dutch investment activities.
Coronet Ventures Netherlands is the Dutch venture arm of Cedars-Sinai Intellectual Property Company. Based at CIC Rotterdam, the fund invests in early-stage MedTech, Biotech and Healthtech companies, connecting Dutch innovation with the US healthcare ecosystem.
Solving the right problem
When assessing a potential investment, Van Breugel first looks at where a company stands in both its technological and clinical development.
“We are a very strategic investor,” he explains. “We only invest if we truly believe we can add value to the company, complementary to the capital that we deploy.”
There also needs to be a clear opportunity in the US. “If it’s an innovation that’s mostly for the Dutch or European market, that can be very good for the company, but that’s not very attractive for us.”
But promising technology and commercial potential alone are not enough. For Van Breugel, successful healthcare innovation starts with a genuine clinical need.
“Too often, innovation is developed out of a fundamental research setting, where a novel technology is discovered without an actual patient and clinical problem to solve. Investors need clarity on what unmet patient need is being addressed.”
Similarly, companies need a strong and proven product-market fit. “If you have a very strong product-market fit, truly solve a clinical need and address a significant market opportunity, then the rest should follow naturally.”
Beyond the investment
Through its connection to Cedars-Sinai, a leading academic health system in Los Angeles, Coronet Ventures can support portfolio companies beyond capital alone.
“We try to tailor how we work with companies on an individual basis,” Van Breugel explains. “It really depends on what the needs of the company are.”
“We only invest if we truly believe we can add value to the company, complementary to the capital that we deploy.”
For Biotech companies, that might mean supporting clinical development and providing access to clinical sites and investigators through Cedars-Sinai, while MedTech and Healthtech companies may need more support with commercializing and market entry.
“We can help them navigate the reimbursement landscape, think about how a hospital system like Cedars-Sinai would actually pay for their innovation, and even initiate reimbursement studies or commercial pilots.”
Van Breugel points to Dutch company Neolook as an example of how both sides can come together: “We’re now initiating a clinical study with them for one application while setting up a commercial pilot at Cedars-Sinai to investigate yet another.”
You cannot copy-paste into the US
For Dutch healthcare companies, the US represents a significant opportunity, but successfully entering the market requires more than replicating what works in Europe and introducing it across the Atlantic. Van Breugel sees a lack of understanding of the differences in clinical needs, reimbursement and business models as one of the biggest pitfalls for founders wanting to commercialize in the US.
“More often than not, a company develops a product for the Dutch or European market based on input from local clinicians and wants to simply copy-paste it to the US. They soon realize that what they built doesn’t align with the requirements of a US clinician. Perhaps
their invention can’t be used with US reimbursement codes, or they over-engineered a particular aspect of the product that may not be useful in a different market.”
For Van Breugel, this makes it important to consider the US market early in a company’s development. “In the US, the healthcare system is a lot more value-based, whereas in the Netherlands and Europe, it’s generally more cost-based.”
Beyond adapting their proposition, companies also need to think about their presence in the US. “Running a business in the Netherlands with a key market in the US is a serious challenge. You’re literally bridging the ocean, the time zones and the culture. Once you are in the US and people are excited, then you also need to step up and deliver.”
“If you truly want to have success in the US market, you may need to consider moving there yourself or hiring a senior team that can handle US operations for you.”
When that becomes necessary depends on the company and its development stage. A biotech company may be able to conduct clinical trials in the US while remaining based in the Netherlands, but commercialisation often requires a different approach.
“If you have FDA approval and you want to begin selling in the US market, then I believe ‘boots on the ground’ becomes much more important.”
Why Rotterdam?
When Coronet Ventures began looking for a Dutch base, the team considered several innovation ecosystems across the Netherlands. Rather than proximity to other investors, they were looking to be close to healthcare innovation itself.
“We don’t need to be in the middle of the financial services district or amongst all the other big VCs,” Van Breugel says. “We really like to be close to the actual clinicians and the scientists doing the hard work.”
Rotterdam offered that combination, with Erasmus MC in the heart of the city, CIC Rotterdam as an entrepreneurial hub and ambitious plans for the campus of Erasmus MC.
“We received a very warm welcome from key players in the city, including the local government, Erasmus MC, Rotterdam Square and CIC. There is strong alignment between our goals for this ecosystem and the Netherlands, as well as Rotterdam’s ambitions for the coming decades.”
For Van Breugel, creating an attractive environment for startups will be key to realising those ambitions.
“Startups first need to want to do business in the US market and be ready to do all that’s required to be successful. Our goal is to create an environment where startups want to engage, learn and thrive. They may need a physical space to set up their company with room to grow, and of course access to talent and capital.”
In addition to the development of the Campus, he sees opportunities in the connections being built across the ecosystem, including the growing relationship between Erasmus MC and Cedars-Sinai.
“We have now established a strong relationship between the executive leadership teams of the Cedars-Sinai IP Company and Erasmus MC. I think we’re looking at this from all the right angles, which is a very good foundation to set up new initiatives.”
From landing to collaboration
Nine months into Coronet Ventures’ presence in Rotterdam, the collaboration between the Dutch and US ecosystems is already taking shape through initiatives such as the NL USA Health Accelerator, developed by Rotterdam Square in collaboration with Cedars-Sinai Accelerator+ and Erasmus MC.
Looking five years ahead, Van Breugel hopes Coronet Ventures will have helped Dutch healthcare companies achieve tangible international growth. “I hope we will have completed successful investments and helped those companies thrive and enter the US market, both on a clinical and commercial level.”
“I would like to see the new accelerator really showcase what can be created if you put all the necessary parts together. Ultimately, I hope we can demonstrate, not only for Rotterdam, but for the rest of the Netherlands, what’s possible if you have the right mindset, partners, and collaborative environment.”
Interested in learning more about Coronet Ventures and its approach to supporting healthcare innovation? Visit www.coronetvc.com
Date: September 7, 2026
