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Top 17 Venture Capital Firms in Belgium (2026)

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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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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.

HeadquartersLuxembourg, Luxembourg, Belgium
Year Founded2017
FoundersEric Archambeau, George Coehlo
Total Funding$325M
IndustriesAgriculture, Climate & Sustainability, DTC, Food & Beverage
Investment StageConvertible Note, Early Stage, Late Stage, Seed
Nº of Investments65 (35 as Lead Investor)
Nº of Exits5
Top Portfolio StartupsPlanetary, 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.

HeadquartersWatermael-boitsfort, Brussels Hoofdstedelijk Gewest, Belgium
Year Founded2010
FoundersBarend Van den Brande
Total Funding$455M
Average Check Size$5M
IndustriesCrypto & Blockchain, Healthcare, Fintech, Marketplace, Gaming, Hardware, SaaS
Investment StageEarly Stage, Seed, Series A, Series B
Nº of Investments129 (35 as Lead Investor)
Nº of Exits16 (2 IPO'd)
Top Portfolio StartupsDeliveroo, Beat, Souqalmal
Contacthello@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.

HeadquartersLeuven, Vlaams-Brabant, Belgium
Year Founded1993
FoundersJos B. Peeters
Total Funding€328.7M
IndustriesHealth & Wellness, Climate & Sustainability, Internet & Mobile
Investment StageEarly Stage, Late Stage, Private Equity, Seed, Growth
Nº of Investments110 (34 as Lead Investor)
Nº of Exits32 (6 IPO'd)
Top Portfolio StartupsSequana Medical, Innovium, Mainstay Medical
Contactproposals@capricorn.be / +32 (0)16 28 41 08
SmartFin Logo

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.

HeadquartersBrussels, Brussels Hoofdstedelijk Gewest, Belgium
Year Founded2014
FoundersBart Luyten, Jürgen Ingels, Mark Ziering, PHILIPPE MAUCHARD, Thomas Depuydt, Wim De Waele
Total Funding€380M
Average Check Size€25M
IndustriesFintech, Big Data & Analytics, Enterprise, SaaS
Investment StageEarly Stage, Late Stage, Private Equity, Seed
Nº of Investments44 (19 as Lead Investor)
Nº of Exits9 (1 IPO'd)
Top Portfolio StartupsMariaDB, Zivver, Silverfin
Contactinfo@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.

HeadquartersGent, Oost-Vlaanderen, Belgium
Year Founded2015
FoundersChristina Takke, Willem Broekaert
Total Funding€185M
Average Check Size€50M
IndustriesHealthcare, Biotech
Investment StageEarly Stage, Series A, Series B
Nº of Investments43 (16 as Lead Investor)
Nº of Exits2
Top Portfolio StartupsAnimab, Oxular, Biodol Therapeutics
Contactinfo@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.

HeadquartersLeuven, Vlaams-Brabant, Belgium
Year Founded2017
FoundersTom Vanhoutte
Investment StageEarly Stage
Nº of Investments41 (23 as Lead Investor)
Nº of Exits1
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.

HeadquartersGent, Oost-Vlaanderen, Belgium
Year Founded2014
FoundersFrank Maene, Sander Vonk
Total Funding€100M
Average Check Size€2M
IndustriesDeep Tech & Hard Science, Fintech, Devops, Healthcare, Proptech & Real Estate, Gaming, Cybersecurity, Travel & Hospitality, Hardware & Industrials, SaaS
Investment StageEarly Stage, Seed
Nº of Investments78 (38 as Lead Investor)
Nº of Exits8
Top Portfolio StartupsCashforce, TerminusDB, Sentiance
Contactinfo@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.

HeadquartersBrussels, Brussels Hoofdstedelijk Gewest, Belgium
Year Founded2019
Founders
Investment StageEarly Stage, Seed
Nº of Investments30 (15 as Lead Investor)
Nº of Exits1
PMV Logo

9. PMV

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.

HeadquartersBrussels, Brussels Hoofdstedelijk Gewest, Belgium
Year Founded2001
Founders
Investment StageConvertible Note, Debt, Early Stage, Late Stage, Secondary Market, Seed
Nº of Investments138 (34 as Lead Investor)
Nº of Exits21 (5 IPO'd)
Contactinfo@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.

HeadquartersEke, Oost-Vlaanderen, Belgium
Year Founded2020
FoundersArne Allewaert, Davy Demuynck, Frédéric Van den Weghe, Jonas Dhaenens, Kristof Vanfleteren, Paul Thiers
Investment StageEarly Stage, Late Stage
Nº of Investments15 (8 as Lead Investor)
Nº of Exits
Contacthello@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.

VC FirmYear FoundedNº InvestmentsNº Exits
Qbic Fund logo Qbic Fund2012559
Novalis Biotechnology Incubation logo Novalis Biotechnology Incubation201814
Ninepointfive logo Ninepointfive2019121
E-Merge logo E-Merge19986624
Vives Louvain Technology Fund logo Vives Louvain Technology Fund2011253
Finindus logo Finindus1926321
Scale II logo Scale II201751

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