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
Tech.Lounge
Tech coworking space with latest technological applications
Co-working Space
Tech
All Stages
Brussels
Tech Coworking
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
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
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
Wim Vernaeve
Founding partner of Green Park Investment Partners, early-stage investor
Business Angel
Tech, Sustainability
Seed
Ghent
Serial Entrepreneur
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
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