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.
| Company | Date | Round | Size | Participants |
| Cartagenia | 10/11 | Venture Round | €2.2M | 2 |
| Aristo Music | 11/08 | Venture Round | $3.38M | 4 |
| Algonomics | 6/07 | Venture Round | €1.5M | 4 |
