The Belgian Venture Capital Ecosystem
No more getting lost. The main players and institutions in the Belgian VC landscape are listed below.
BAN Flanders (Business Angels Network Vlaanderen)
Flemish government-supported network matching entrepreneurs with investors
Business Angel Network
Multi-sector
Pre-seed to Series A
Brussels
Regional Network
https://www.ban.be3D Investors (Family Donck)
Family office active in co-investment deals
Family Office
Multi-sector
Growth
Flanders
Single Family Office
https://www.3d-investors.beTech.Lounge
Tech coworking space with latest technological applications
Co-working Space
Tech
All Stages
Brussels
Tech Coworking
https://www.techlounge.be/en/EIT InnoEnergy
EU-backed investment vehicle focused on sustainable energy
EU Program
Clean Energy
All Stages
Belgium
EU Network
https://www.innoenergy.comEIT Food (Belgium hub)
Accelerator for innovation in the food sector
EU Program
Food, AgTech
Early Stage
Belgium
EU Network
https://www.eitfood.euEIT Digital (Belgium hub)
European digital innovation ecosystem with Belgian node
EU Program
Digital, Deep Tech
All Stages
Brussels
EU Network
https://www.eitdigital.euEIC Accelerator (Belgium)
European Innovation Council co-investing in breakthrough startups
EU Program
Deep Tech, Innovation
Early to Growth
EU/Belgium
EU Funding
https://eic.ec.europa.euWatt Factory
Flexible coworking and collaboration space
Co-working Space
Multi-sector
All Stages
Brussels
Innovation Space
https://www.wattfactory.be/BlueApp
Vibrant pre-incubator and open innovation hub for sustainable chemistry
Innovation Hub
Sustainable Chemistry
Pre-seed
Antwerp
Pre-Incubator
https://www.blueapp.beSilversquare
Pioneer of coworking in Belgium with multiple locations
Co-working Space
Multi-sector
All Stages
Brussels
Coworking Network
https://www.silversquare.euUGent TechTransfer
University of Ghent technology transfer and spinoff support
University TTO
Multi-sector
Spinoff Support
Ghent
Tech Transfer
https://www.ugent.beKU Leuven Research & Development
Technology transfer office supporting spinoffs from KU Leuven
University TTO
Multi-sector, Deep Tech
Spinoff Support
Leuven
Tech Transfer
https://www.kuleuven.beVIB (Flemish Institute for Biotechnology)
Premier life sciences research institute generating spinoffs
Research Institute
Life Sciences, Biotech
R&D to Spinoff
Ghent
Life Sciences R&D
https://www.vib.beimec
World-leading research hub for nanoelectronics and digital technology
Research Institute
Nanoelectronics, Digital
R&D to Spinoff
Leuven
Nanoelectronics R&D
https://www.imec-int.comVoka
Flemish network of enterprises supporting business growth
Industry Association
Multi-sector
N/A
Brussels
Business Network
https://www.voka.beUNIZO
Organisation supporting SMEs and self-employed professionals
Industry Association
SMEs
N/A
Brussels
SME Federation
https://www.unizo.beBioWin
Health cluster of Wallonia supporting life sciences companies
Industry Association
Life Sciences, Health
N/A
Gosselies
Biotech Cluster
https://www.biowin.orgFlanders Bio
Life sciences cluster organization for Flanders
Industry Association
Life Sciences, Biotech
N/A
Ghent
Biotech Association
https://www.flandersbio.bePrivate Capital Belgium (formerly BVA)
Professional association representing VC and PE community in Belgium
Industry Association
VC/PE Industry
N/A
Brussels
VC/PE Association
https://www.privatecapital.beStartups.be / Scale-Ups.eu
Platform connecting Belgian startups with investors and corporates
Industry Association
Multi-sector
All Stages
Brussels
Platform
https://www.startups.beAgoria
Belgian federation representing technology industries
Industry Association
Technology Industries
N/A
Brussels
Federation
https://www.agoria.beInnoviris
Brussels regional institute for research and innovation funding
Government Agency
R&D, Innovation
All Stages
Brussels
Regional Agency
https://www.innoviris.brusselsDigital Wallonia
Drives digital transformation and supports Walloon tech startups
Government Agency
Digital, Tech
All Stages
Namur
Regional Agency
https://www.digitalwallonia.behub.brussels
Brussels Agency for Business Support offering guidance and funding
Government Agency
Multi-sector
Early Stage
Brussels
Regional Agency
https://www.hub.brusselsFlanders Investment & Trade (FIT)
Agency helping Flemish companies expand abroad and attracting foreign investment
Government Agency
International Expansion
Growth
Brussels
Trade Agency
https://www.flandersinvestmentandtrade.comVLAIO (Flanders Innovation & Entrepreneurship)
Flemish government agency for innovation subsidies and entrepreneurship support
Government Agency
Multi-sector, R&D
All Stages
Brussels
Regional Agency
https://www.vlaio.beProximus (Strategic Ventures)
Strategic investments and partnerships with innovative startups
Corporate Venture
Telecom, Digital, IoT
Growth
Brussels
Telecom CVC
https://www.proximus.beBelfius
Bank investments in fintech and innovation
Corporate Venture
Fintech, Digital
Early to Growth
Brussels
Bank CVC
https://www.belfius.beKBC Start it (via Start it @KBC)
KBC's corporate startup program and investment activities
Corporate Venture
Multi-sector, Fintech
Early Stage
Brussels
Bank CVC
https://www.kbc.comTelenet (via Ninepointfive)
Corporate investments in tech startups through Ninepointfive partnership
Corporate Venture
Tech, Digital
Early to Growth
Mechelen
Telecom CVC
https://www.telenet.beCo.Station
Tech ecosystem space bringing together startups, scale-ups and corporates
Innovation Hub
Tech, Digital
All Stages
Brussels/Ghent
Tech Hub
https://www.co-station.comNinepointfive
VC fund co-investing with corporates like Telenet, Beiersdorf, Agfa
Corporate Venture
Tech
Pre-seed to Series A
Brussels
Multi-Corporate CVC
https://www.ninepointfive.beMIC Brussels
Microsoft Innovation Center accelerating tech startups
Incubator/Accelerator
Tech, Digital
Early Stage
Brussels
Tech Accelerator
https://mic-brussels.be/Incubator Darwin
Life sciences incubator at Science Park UAntwerp
Incubator/Accelerator
Life Sciences
Early Stage
Antwerp
Life Sciences Incubator
Biotope by VIB
Pre-seed incubator supporting early biotech entrepreneurs
Incubator/Accelerator
Biotech
Pre-seed
Ghent
Biotech Incubator
https://www.vib.be/biotopeBio Base Europe Pilot Plant
Multi-purpose pilot facility for biobased products and processes
Incubator/Accelerator
Biotech, Industrial Bio
Development
Ghent
Biotech Incubator
https://www.bbeu.orgStartup Factory
Brussels-based studio building and incubating new business ventures
Incubator/Accelerator
Multi-sector
Ideation to Seed
Brussels
Venture Studio
https://www.startupfactory.beeFounders Belgium
Belgian and French startup studio connecting founders with cutting-edge solutions
Incubator/Accelerator
SaaS, Tech
Ideation to Seed
Belgium
Startup Studio
https://www.efounders.comXLR8 (Cronos Groep)
Antwerp-based accelerator supporting B2B tech startups
Incubator/Accelerator
B2B Tech
Early Stage
Antwerp
Corporate Accelerator
https://www.xlr8.beBEyond (Pulse Foundation)
Accelerator guiding Belgian entrepreneurs to international success
Incubator/Accelerator
Multi-sector
Scale-up
Belgium
Scale-up Program
https://www.beyond.beBirdhouse Accelerator
Ghent-based accelerator supporting startups on scale-up journey
Incubator/Accelerator
Multi-sector
Seed to Scale-up
Ghent
General Accelerator
https://www.birdhouse.beBlueHealth Innovation Center
Pre-acceleration program for young healthtech startups
Incubator/Accelerator
Healthtech, Digital Health
Pre-seed
Antwerp
Healthtech Accelerator
https://www.bluehealthinnovation.beBlueChem
Belgium's first incubator focused on sustainable chemistry with lab facilities
Incubator/Accelerator
Sustainable Chemistry
Early Stage
Antwerp
Chemistry Incubator
https://www.bluechem.beWintercircus
Ghent-based incubator for companies working with data analytics, ML and AI
Incubator/Accelerator
Data Analytics, ML, AI
Early Stage
Ghent
AI Incubator
https://www.wintercircus.beThe Beacon
Antwerp innovation hub for AI, IoT and logistics startups
Innovation Hub
AI, IoT, Logistics
Early Stage
Antwerp
Innovation Hub
https://www.thebeacon.euDigital Attraxion
Walloon digital startup accelerator for early-stage ventures
Incubator/Accelerator
Industry 4.0, Smart City, E-health, SaaS
Early Stage
Mons
Digital Accelerator
https://www.digitalattraxion.comStart it @KBC
Large accelerator offering mentoring, workspace and community across 6 Belgian cities
Incubator/Accelerator
Multi-sector
Ideation to Scale-up
Multiple
Bank Accelerator
https://www.startit.beimec.istart
Belgium's leading accelerator powered by imec, providing pre-seed funding and support
Incubator/Accelerator
Deep Tech, Digital
Pre-seed
Leuven
Tech Accelerator
https://www.imec-int.com/istartBoris Bogaert
Startup enabler and angel investor based in Antwerp
Business Angel
Tech, Digital
Early Stage
Antwerp
Individual Investor
https://borisbogaert.com/Wim Vernaeve
Founding partner of Green Park Investment Partners, early-stage investor
Business Angel
Tech, Sustainability
Seed
Ghent
Serial Entrepreneur
https://www.greenparkinvest.com/Jean-Pierre van den Eynde (Look&Fin)
Founder of Look&Fin angel investor fund investing in early-stage companies
Business Angel
High-tech, Green Tech, Medtech
Early Stage
Brussels
Individual Investor
https://www.lookfin.comAnnie Vereecken
Angel investor focused on biotech and innovative tech startups
Business Angel
Biotech, Medtech, Fintech
Seed to Growth
Belgium
Individual Investor
Jeroen De Wit
CEO and co-founder of Teamleader, active startup investor
Business Angel
Software, B2B
Seed
Ghent
Serial Entrepreneur
Louis Jonckheere
Co-founder Showpad, active angel investor in hardware and SMB software
Business Angel
Hardware, Software
Pre-seed to Seed
Ghent
Serial Entrepreneur
Lorenz Bogaert
Co-founder Netlog, Twoo, Realo (exits), co-founder of Pitchdrive
Business Angel
Software, SaaS
Pre-seed to Seed
Ghent
Serial Entrepreneur
Jurgen Ingels
Co-founder Clear2Pay, active investor in tech and innovation startups
Business Angel
Tech, Fintech
Seed to Series A
Belgium
Serial Entrepreneur
https://www.startups.beMichel Akkermans (Pamica NV)
Serial entrepreneur and investor, co-founder of Clear2Pay (sold to FIS)
Business Angel
Fintech, Healthtech, Software
Seed to Series A
Antwerp
Serial Entrepreneur
https://www.pamica.beEBAN Belgium
Belgian chapter of European Business Angels Network
Business Angel Network
Multi-sector
Seed, Early Stage
Brussels
European Network
https://www.eban.orgBeAngels
Nationwide angel network supporting early-stage startups in Belgium, Luxembourg and France
Business Angel Network
Multi-sector
Seed, Early Stage
Brussels
National Network
https://www.beangels.euDe Eik (Van Waeyenberge Family)
Family office investing in biotech and life sciences
Family Office
Biotech, Life Sciences
Early to Growth
Belgium
Single Family Office
https://www.deeik.com/Essers Family Office
Investment vehicle of the Essers logistics family
Family Office
Logistics, Industrial
Growth
Limburg
Single Family Office
Smile Invest (Family Vandeurzen)
Family office involved in co-investing with other family offices
Family Office
Industrial, Tech
Growth
Flanders
Single Family Office
Deparco
Family office committed to fostering growth and innovation in portfolio companies
Family Office
Multi-sector
Growth
Brussels
Single Family Office
https://www.deparco.beThe Nest Family Office
Family office focused on food, water, and housing challenges
Family Office
Food, Agriculture, Sustainability
Early to Growth
Brussels
Single Family Office
https://www.thenest.beBaltisse
Family office investing across capital markets, private equity, and real estate
Family Office
PE, Real Estate, Equities
Growth
Ghent
Single Family Office
https://www.baltisse.comVerlinvest
Family-owned evergreen investment group partnering with entrepreneurs globally
Family Office
Consumer Brands, Technology, Healthcare
Growth
Brussels
Single Family Office
https://www.verlinvest.comKorys
Investment vehicle of the Colruyt family focusing on values-driven entrepreneurship
Family Office
Conscious Consumer, Energy Transition, Healthy Living
All Stages
Halle
Single Family Office
https://www.korys.beSofina
Long-term investment partner for growing companies, managing €13.7B
Family Office
Consumer, Tech, Digital
Growth
Brussels
Listed Family Office
https://www.sofina.beSFPIM-FPIM
Federal Holding and Investment Company of Belgium
Government Investment Fund
Multi-sector, Strategic
All Stages
Brussels
Federal Fund
https://www.sfpim.beWallonie Entreprendre
Wallonia's economic and financial tool at the service of businesses
Government Investment Fund
Multi-sector
All Stages
Namur
Regional Fund
https://www.wallonie-entreprendre.beFinance&invest.brussels
Brussels regional economy fund backing startups and scale-ups
Government Investment Fund
Fintech, Civic Tech, Sustainability
Early Stage
Brussels
Regional Fund
https://www.finance.brusselsLRM (Limburgse Reconversie Maatschappij)
Investment company for economic growth in Limburg
Government Investment Fund
Multi-sector
All Stages
Hasselt
Regional Fund
https://www.lrm.beNoshaq (formerly Meusinvest)
Reference financial partner for SMEs in the Liège region
Government Investment Fund
Biotech, Medtech, Energy, Digital
All Stages
Liège
Regional Fund
https://www.noshaq.beSRIW (Société Régionale d'Investissement de Wallonie)
Walloon regional investment company providing equity and debt
Government Investment Fund
Multi-sector
All Stages
Namur
Regional Fund
https://www.sriw.beWaterland Private Equity
European private equity investor with Belgian portfolio companies
Private Equity
Multi-sector
Growth, Buyout
Brussels
Growth PE
https://www.waterlandpe.comPMV (Participatiemaatschappij Vlaanderen)
Flemish investment company backing innovative companies and infrastructure
Government Investment Fund
Multi-sector
All Stages
Brussels
Regional Fund
https://www.pmv.euIndufin
Belgian private equity firm targeting fashion, IT services, and healthcare
Private Equity
Fashion, IT Services, Healthcare
Growth
Brussels
Growth PE
https://www.indufin.beGimv
One of Belgium's largest private equity investors, listed on Euronext Brussels
Private Equity
Healthcare, Smart Industries, Sustainable Cities
Growth
Antwerp
Listed PE
https://www.gimv.comFortino Capital
European investment company focused on high-growth B2B software solutions
Private Equity
B2B Software, SaaS
Series B+, Growth
Antwerp
Growth PE
https://www.fortinocapital.comSambrinvest
Active venture capital player in the region of Charleroi-Thuin
VC Fund
Multi-sector
Early to Growth
Gosselies
Regional VC
https://www.sambrinvest.beInnovation Fund
Venture capital with a focus on chemistry and chemicals industry
VC Fund
Chemistry, Chemicals
Early to Growth
Brussels
Thematic VC
https://www.innovatiefonds.beForce Over Mass
Invests in B2B innovation across fintech, AI, and SaaS
VC Fund
Fintech, AI, SaaS
Seed to Series B
Brussels
Independent VC
https://www.forceovermass.comVIVES Funds
Seed capital fund initiated by UCLouvain investing in disruptive innovations
VC Fund
Multi-sector, Impact
Seed
Wavre
University VC
https://www.vivesfunds.beAMAVI Capital
Independent investment fund supporting leading PropTech scale-ups
VC Fund
PropTech
Growth
Belgium
Thematic VC
https://www.amavicapital.comBlackFin Capital Partners
Pan-European financial services PE platform investing in fintech
VC Fund
Fintech, Insurtech, Regtech
Growth
Brussels
Financial Services VC
https://www.blackfin.comQbic Fund
Multi-sector fund supporting spin-offs of Ghent, Brussels and Antwerp universities
VC Fund
Multi-sector, Deep Tech
Pre-seed to Seed
Ghent
University VC
https://www.qbic.beW.IN.G by Digital Wallonia
Invests in SaaS, advanced tech and deep tech startups
VC Fund
SaaS, AI, Drones, Medtech, IoT
Early Stage
Liège
Regional VC
https://www.digitalwallonia.beLeanSquare
New economy startups investor and accelerator
VC Fund
Digital, Tech
Early Stage
Liège
Regional VC
https://www.leansquare.beInventures
European VC focusing on societal goals in health tech, edtech, and cleantech
VC Fund
Healthtech, Edtech, Cleantech
Early to Scale-up
Brussels
Impact VC
https://www.inventures.euThe Faktory Fund
Private tech venture capital seed fund founded by Pierre L'Hoest
VC Fund
Tech, Software
Seed
Wallonia
Independent VC
https://www.thefaktoryfund.comAstanor Ventures
Impact investor transforming the agrifood system with disruptive solutions
VC Fund
Agrifood, Sustainability
Seed to Early Growth
Brussels
Impact VC
https://www.astanor.comScaleFund
Bridges the gap for startups between early funding and larger VC support
VC Fund
Tech, Software
Early Stage
Belgium
Independent VC
https://www.scalefund.bePitchdrive
Founder-first, hands-on pre-seed VC helping startups get from pitch to launch
VC Fund
SaaS, Marketplaces, AI
Pre-seed to Seed
Antwerp/Ghent
Pre-Seed VC
https://www.pitchdrive.comFund+
Investing in life sciences companies with strong technology platforms
VC Fund
Life Sciences, Healthcare
Seed to Series B
Brussels
Life Sciences VC
https://www.fundplus.beHeran Partners
Specialist VC committed to creating transformative impact in life sciences and healthcare
VC Fund
Medtech, Digital Health
Venture & Growth
Waasmunster
Life Sciences VC
https://www.heranpartners.comHummingbird Ventures
Agile investor backing ambitious founders in emerging markets and breakthrough technologies
VC Fund
Tech, Emerging Markets
Early to Growth
Ghent
Independent VC
https://www.hummingbird.vcSmartfin
Private equity fund targeting growth technology companies in Europe and UK
VC Fund
B2B Tech, SaaS
Seed to Series A+
Brussels
Independent VC
https://www.smartfin.beV-Bio Ventures
Life sciences VC focused on transforming scientific innovations into real-world impact
VC Fund
Therapeutics, Diagnostics, AgTech
Early Stage
Ghent
Life Sciences VC
https://www.v-bio.venturesCapricorn Partners
Leading European VC investing in digital, health, and cleantech companies with technology edge
VC Fund
Digital, Health, Cleantech
Seed to Series B
Leuven
Independent VC
https://www.capricorn.beVolta Ventures
Seed and early-stage VC for internet and software companies in the Benelux
VC Fund
Internet, Software, SaaS
Seed
Ghent
Independent VC
https://www.volta.ventures