Eutopia Invests in the Belgian Supplements Brand Insentials

PARIS – Eutopia has taken a minority stake in Belgian supplements brand Insentials.

The French venture capital fund, which backs emerging and purpose-driven lifestyle and wellness brands, made the investment alongside FG Bros, Ségolène Frère and Ian Gallienne’s family office. Financial terms of the deal were not disclosed

Insentials, focusing on liver health, was introduced in April 2021 in Belgium by Amandine De Paepe. The premium brand has a range of supplements, including vitamins and products dedicated to digestive immunity.

“The other thing we find very interesting about the brand is that it was founded by a nutritionist — by a scientific,” said Camille Kriebitzsch, cofounder and partner of Eutopia, adding each formula is created with patented ingredients. “They’re very efficient.

“People are very happy with their treatments, very loyal to the brand,” she continued. “Amandine has a very strong community of customers — that we really like.”

“It’s the first time we’ve seen a brand combine scientific rigor with such a close bond with its community,” said Antoine Fine, cofounder and managing partner of Eutopia, in a statement. “Amandine has an extremely clear vision of her market and her consumers.” 

Insentials, which had been self-funded by the founder, generated almost 10 million euros in sales last year.

The beauty supplements market is robust, valued at $3.3 billion in 2024, and predicted to register a compound annual growth rate of about 9.6 percent between this year and 2034, according to Global Market Insights.

De Paepe said several investors had reached out to her. “For me, it was not only about the money,” she explained. “It was the next mile, the next step — mainly the internationalization.”

De Paepe lauded the funds with which she’s working, saying: “They have a huge network, the expertise. They are for me like a kind of coach.”

Insentials’ accelerated geographic expansion is meant to stretch into the French market. The brand, with 17 employees, has 30 stock keeping units. “Every three months we have an innovation,” said De Paepe.

Direct-to-consumer, selling to Flanders, is its strongest channel. Insentials is stocked in about 260 brick-and-mortar doors, including pharmacies and aesthetic clinics, as well.

“She’s already very big in a very small [geographic] area,” said Kriebitzsch. “So that’s why we thought there will be many opportunities to develop the brand and to expand beyond [Flanders], and especially to launch France.”

Insentials is starting to be available in the country, where De Paepe is hosting some selective events. But the official launch there is set for January.

“We’re confident that French consumers will quickly connect with this brand, already a standout success in Belgium,” said Fine.

Sights are set beyond, too. “We have ambition to go in Europe, but maybe also outside Europe,” said De Paepe.

Meanwhile, a “big rebranding” is underway, according to Kriebitzsch, who added that involves strengthening Insentials’ scientific side and its premium-ness.

The brand suggests a three-step well-being routine, including “smart vitamins,” with slow-release technology and liver support.

“We see the liver as the cause of a lot of symptoms and ailments,” said De Paepe. The third step of the regimen involves boosters. 

Bestsellers include Detox Boost and GLH-2.  Most recently, Insentials launched the J-Magneflex II Shot, for recovery from sports. Product prices range from 29 euros to 150 euros.

The deal with Insentials “strengthens the fact that we truly believe in the well-being sector,” said Kriebitzsch. Eutopia has other investments in the space, including in Oh My Cream, the beauty retailer and brand, and Monday Sports Club.

“It’s an area we love, and we think there are many opportunities, because people invest in their well-being, in their health,” she said. Kriebitzsch explained Eutopia has been looking for brands in that market, which are complementary to the rest of its portfolio, for a while.

Eutopia has historically entered deals from very early-stage companies, sometimes even pre-launch. “Now, after 10 years in the business, we want to focus on investing in more mature companies,” said Kriebitzsch. “Insentials is a perfect example and perfect size of business we are looking at.”

The target is a  profitable company with revenues of between 5 million euros and 15 million euros. 

“And when we think there’s still room to scale, to open new markets,” continued Kriebitzsch. “So it’s really interesting for us to add this company to the portfolio.”

Eutopia offers a mix of primary and secondary financing to support a company’s expansion, while giving liquidity to early shareholders.

Belgium-based FG Bros has invested in other brands, including French indie beauty label La Rosée and cashmere clothing-maker Kujten.