Belgium's startup scene is quietly thriving, supported by a solid network of investors. These firms are backing founders across many different sectors, from food tech to deep tech.
Firms like Capricorn Partners have backed over 100 companies, while Hummingbird Ventures has made more than 120 investments. This activity shows a healthy environment for new companies looking for funding.
Below is our list of the best 17 VC firms in Belgium.
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Buy It For $97 $297 →Astanor Ventures backs entrepreneurs using technology to regenerate the food, agriculture, and ocean sectors. They combine capital with a network of sector experts to help build a future of food that is nourishing, trusted, and ultra-fresh.
| Headquarters | Luxembourg, Luxembourg, Belgium |
| Year Founded | 2017 |
| Founders | Eric Archambeau, George Coehlo |
| Total Funding | $325M |
| Industries | Agriculture, Climate & Sustainability, DTC, Food & Beverage |
| Investment Stage | Convertible Note, Early Stage, Late Stage, Seed |
| Nº of Investments | 65 (35 as Lead Investor) |
| Nº of Exits | 5 |
| Top Portfolio Startups | Planetary, Umiami, Melibio |
Hummingbird Ventures partners with outlier founders at the early stages, providing the capital and support needed to build generational companies. Their portfolio demonstrates this focus, featuring transformative companies like Deliveroo, Kraken, and Peak Games across sectors from crypto to healthcare.
| Headquarters | Watermael-boitsfort, Brussels Hoofdstedelijk Gewest, Belgium |
| Year Founded | 2010 |
| Founders | Barend Van den Brande |
| Total Funding | $455M |
| Average Check Size | $5M |
| Industries | Crypto & Blockchain, Healthcare, Fintech, Marketplace, Gaming, Hardware, SaaS |
| Investment Stage | Early Stage, Seed, Series A, Series B |
| Nº of Investments | 129 (35 as Lead Investor) |
| Nº of Exits | 16 (2 IPO'd) |
| Top Portfolio Startups | Deliveroo, Beat, Souqalmal |
| Contact | hello@hummingbird.vc / +447923444037 |
As a pan-European manager of venture capital funds, they invest in innovative companies that use technology as a competitive advantage. Their portfolio focuses on healthtech, climate tech, and digital growth from seed to later stages and includes companies like Sequana Medical and Mainstay Medical.
| Headquarters | Leuven, Vlaams-Brabant, Belgium |
| Year Founded | 1993 |
| Founders | Jos B. Peeters |
| Total Funding | €328.7M |
| Industries | Health & Wellness, Climate & Sustainability, Internet & Mobile |
| Investment Stage | Early Stage, Late Stage, Private Equity, Seed, Growth |
| Nº of Investments | 110 (34 as Lead Investor) |
| Nº of Exits | 32 (6 IPO'd) |
| Top Portfolio Startups | Sequana Medical, Innovium, Mainstay Medical |
| Contact | proposals@capricorn.be / +32 (0)16 28 41 08 |
SmartFin backs B2B technology companies across Europe, focusing on sectors like fintech and enterprise software. They provide capital from seed to late-stage rounds, helping to scale companies such as the open-source database provider MariaDB.
| Headquarters | Brussels, Brussels Hoofdstedelijk Gewest, Belgium |
| Year Founded | 2014 |
| Founders | Bart Luyten, Jürgen Ingels, Mark Ziering, PHILIPPE MAUCHARD, Thomas Depuydt, Wim De Waele |
| Total Funding | €380M |
| Average Check Size | €25M |
| Industries | Fintech, Big Data & Analytics, Enterprise, SaaS |
| Investment Stage | Early Stage, Late Stage, Private Equity, Seed |
| Nº of Investments | 44 (19 as Lead Investor) |
| Nº of Exits | 9 (1 IPO'd) |
| Top Portfolio Startups | MariaDB, Zivver, Silverfin |
| Contact | info@smartfinvc.com |
V-Bio Ventures builds and finances young life science companies across Europe, focusing on early-stage startups with high growth potential. The firm invests in the biotech, pharmaceutical, and agricultural sectors, backing technologies that provide transformational improvements.
| Headquarters | Gent, Oost-Vlaanderen, Belgium |
| Year Founded | 2015 |
| Founders | Christina Takke, Willem Broekaert |
| Total Funding | €185M |
| Average Check Size | €50M |
| Industries | Healthcare, Biotech |
| Investment Stage | Early Stage, Series A, Series B |
| Nº of Investments | 43 (16 as Lead Investor) |
| Nº of Exits | 2 |
| Top Portfolio Startups | Animab, Oxular, Biodol Therapeutics |
| Contact | info@v-bio.ventures |
Imec.xpand backs early-stage startups that are commercializing hardware rooted in nanoelectronics. As an independently managed fund powered by imec, a world-leading R&D hub, it provides portfolio companies with deep technological support and expertise.
| Headquarters | Leuven, Vlaams-Brabant, Belgium |
| Year Founded | 2017 |
| Founders | Tom Vanhoutte |
| Investment Stage | Early Stage |
| Nº of Investments | 41 (23 as Lead Investor) |
| Nº of Exits | 1 |
| Contact | +32 16 28 12 11 |
They back internet and software startups in the Benelux region with seed and early-stage funding. The team, along with a network of business angels, provides hands-on guidance to help founders identify new markets, hire talent, and arrange subsequent financing.
| Headquarters | Gent, Oost-Vlaanderen, Belgium |
| Year Founded | 2014 |
| Founders | Frank Maene, Sander Vonk |
| Total Funding | €100M |
| Average Check Size | €2M |
| Industries | Deep Tech & Hard Science, Fintech, Devops, Healthcare, Proptech & Real Estate, Gaming, Cybersecurity, Travel & Hospitality, Hardware & Industrials, SaaS |
| Investment Stage | Early Stage, Seed |
| Nº of Investments | 78 (38 as Lead Investor) |
| Nº of Exits | 8 |
| Top Portfolio Startups | Cashforce, TerminusDB, Sentiance |
| Contact | info@voltaventures.eu / +32 32957977 |
As a blockchain-native venture capital firm, Tioga Capital Partners backs early-stage founders building the open economy. They provide capital and deep industry expertise to help pre-seed and seed stage companies navigate the web3 space.
| Headquarters | Brussels, Brussels Hoofdstedelijk Gewest, Belgium |
| Year Founded | 2019 |
| Founders | — |
| Investment Stage | Early Stage, Seed |
| Nº of Investments | 30 (15 as Lead Investor) |
| Nº of Exits | 1 |
PMV fuels the Flemish economy by providing capital to promising companies, supporting them from their earliest days all the way through international expansion. This government-backed firm focuses on implementing projects that are vital for the region's prosperity, ensuring that every promising local enterprise can find the funding it needs to succeed.
| Headquarters | Brussels, Brussels Hoofdstedelijk Gewest, Belgium |
| Year Founded | 2001 |
| Founders | — |
| Investment Stage | Convertible Note, Debt, Early Stage, Late Stage, Secondary Market, Seed |
| Nº of Investments | 138 (34 as Lead Investor) |
| Nº of Exits | 21 (5 IPO'd) |
| Contact | info@pmv.eu / 02 229 52 30 |
AMAVI Capital backs promising PropTech companies across Europe, with a focus on the Benelux, Nordics, and Central European regions. They work to bridge the gap between the traditional real estate industry and technology startups that are changing the way we live, work, and relax.
| Headquarters | Eke, Oost-Vlaanderen, Belgium |
| Year Founded | 2020 |
| Founders | Arne Allewaert, Davy Demuynck, Frédéric Van den Weghe, Jonas Dhaenens, Kristof Vanfleteren, Paul Thiers |
| Investment Stage | Early Stage, Late Stage |
| Nº of Investments | 15 (8 as Lead Investor) |
| Nº of Exits | — |
| Contact | hello@amavi.capital |
7 Additional Belgium VC Firms Worth Pitching
Beyond our favorite picks, there are many other active investors helping build Belgium's next generation of companies. These additional firms alone have backed over 200 startups and seen almost 40 successful exits. Here’s a closer look at the other venture capital firms fueling growth for Belgian founders.