Eurnexy Brussels-listed investment firm Gimv-XL put up the cash, which sees it take a stake in XL's global video rental enterprises and also its LED and product design and manufacturing arm, XL Technologies.
"We are all very enthusiastic about the new partnership and the opportunities that Gimv coming onboard will bring. It will allow us to make major investments in new technologies in the immediate future, which will benefit all our clients and end-users," said XL CEO and co-founder René De Keijzer.
"Longer term, it will allow us to strengthen our position in the marketplace and move forward with our medium term expansion strategies in Europe and the US, advancing and growing the XL Group to its next level of development."
Flemish firm XL has a well-established UK arm, which made headlines last year .