BNP Paribas Fortis Private Equity is a venture capital and private equity investment arm of BNP Paribas Fortis SA/NV specializing in fund of funds and direct investments. In direct investments, the firm specializes in mezzanine financing, buyouts, development capital, replacement capital, mature, later stage, mid venture, late venture, growth capital, and middle market transactions. Within fund of fund investments, it invests in private equity funds, venture capital funds, and mezzanine funds. The firm does not invest in defence industry, property development, and real estate. It seeks to invest across all sectors. The firm primarily invests in medium sized companies in Europe and North America including Spain and France with a focus on Benelux region. In Spain, the firm operates through Nazca Capital S.G.E.C.R. (Nazca). In Netherlands, the firm seeks to provide private equity to undervalued and/or undermanaged companies in which the specific turnaround expertise will be used to implement the necessary steps. For the fund of funds, the firm targets primary funds in buy-out, venture capital, diversified, niche, and seeks to invest in Europe, North America, and Asia. It selectively co-invest in transactions ranging between €5 million ($5.92 million) and €30 million ($35.55 million). The firm typically invests between $0.6 million and €58.48 million ($67.79 million) in equity per transaction in companies with enterprise values between €17 million ($20.34 million) and €175million ($203.38 million). It prefer to have minority, and majority stake in companies. The firm typically invests for four to seven years. A proportion of the capital is also allocated to secondary investment opportunities. It also co-invests in later-stage transactions in Europe, initiated by the private equity funds in which it invests. BNP Paribas Fortis Private Equity was founded in 1982 and is based in Brussels, Belgium.

The S.R.I.W. Group is an institution at the heart of the financial market that assists entrepreneurs in creating and developing businesses in the Walloon region. It reflects the effort of Wallonian industry in facing the challenges of the creation of economic value in the 21st century. Since its creation in 1979, the Société Régionale d’Investissement de Wallonie has continuously been expanding its abilities to adapt and anticipate as well as its flexibility in order to meet the requirements of its partners who are confronted with the evolution of the world economy. The principles of good governance, a strong business culture and shared values at the heart of the Group constitute important assets to capture the changing realities of the market and progress in a sustainable development perspective.

LRM is an investment company focused on fostering economic growth in Limburg. By leveraging its financial resources and expertise, LRM aims to create a supportive environment for companies and projects that generate employment opportunities in the region. The organization serves as a catalyst for development, providing a unique foundation for businesses to thrive and contribute to the local economy.

Inventures II is a venture capital fund managed by Inventures Investment Partners, based in Brussels, Belgium. The fund focuses on investments in the pharmaceuticals and biotechnology sectors, supporting early-stage European businesses that prioritize sustainability. Through its investment strategy, Inventures II aims to foster job growth and empower entrepreneurs while contributing to a better world. The firm also facilitates citizenship co-investments via its crowdfunding platform, MyMicroInvest, enhancing opportunities for individuals to participate in funding innovative ventures.

On July 3, 2002 the Gemma Frisius Fund II was established. Continuing the work of its predecessor Gemma Frisius Fund I, this is a venture capital fund providing seed capital and start-up capital to spin-off companies intending to commercialize knowledge and research developed at K.U.Leuven. Following the success of the first edition of the Fund, the three partners - Fortis Private Equity, KBC Investco and K.U.Leuven Research & Development - unanimously decided to extend this unique form of cooperation between the academic and financial worlds. The Gemma Frisius Fund I invested in 15 projects, for a total value of 8 million eur. The fund still has 4.4 million eur available for follow-up investment in these projects. The new fund will not invest in companies belonging to the portfolio of the first edition of the fund. The management structure of the Gemma Frisius Fund II will remain the same. The projects are analyzed in an advisory committee and presented for approval to the board of directors. Two directors from each partner are represented on the board.

Qbic II is an early-stage venture capital fund based in Ghent, Belgium, managed by Qbic Fund. The fund specializes in investments in spin-off companies emerging from the universities of Ghent, Brussels, and Antwerp, as well as VITO. Qbic II focuses on sectors such as software, deeptech, biotech, and medtech, leveraging its strategic partnerships with these educational and research institutions to gain early access to promising projects. The fund employs a thorough review and analysis process to identify potential investments and provides hands-on support to the companies it backs. It is part of a broader initiative that has raised over €30 million, aimed at fostering innovation and growth in technology-linked startups.

Volta Ventures is a venture capital firm established in 2014, based in Ghent, Belgium, with additional offices in Amsterdam. The firm specializes in providing seed and early-stage venture capital to internet and software companies within the Benelux region, which includes Belgium, Luxembourg, and the Netherlands. Volta Ventures focuses primarily on enterprise software startups and aims to create a significant impact on its portfolio companies by collaborating closely with founders and management teams. This collaboration includes identifying new markets and customers, recruiting senior talent, offering ongoing guidance, and facilitating future financing rounds. With support from a network of around 30 business angels, Volta Ventures is committed to fostering the growth and success of the companies it invests in.

Fortino Capital is a Belgium-based venture capital firm founded in 2013, specializing in growth capital investments in technology companies across Western Europe, particularly in the Benelux region. The firm focuses on providing expansion capital and expertise to exceptional entrepreneurs and companies aiming to develop growth-oriented SaaS platforms primarily for small and medium-sized enterprises (SMEs). Fortino also invests in firms seeking to innovate their business models by adopting advanced management practices and cutting-edge technologies. The firm manages multiple funds, including Fortino Capital Growth PE I, which targets scale-ups and growth companies, offering investment amounts ranging from EUR 5 million to EUR 25 million. Its investment strategy emphasizes sectors such as software, communications, and networking, and seeks to support companies with a minimum turnover of five to ten million euros.

Sambrinvest S.A. is a private equity and venture capital firm specializing in direct and fund of funds investments. Within direct investments, it focuses on startup, spin-out, spin-off, growth capital and turnaround investments. It does not invest in the retail, hospitality or banking and insurance industries. It invests in the following sectors: Agri-Food, audiovisual, gaming, automotive, biotechnology, pharmaceuticals, wholesale, construction, digital, environmental, alternative energy, manufacturing, computing, electronics, services, services to people, tourism, transportation, logistics and real estate. The firm is also open for investments in other sectors. The firm seeks to invest in small and medium sized companies in the Charleroi Sud-Hainaut and Thuin districts of Belgium. It invests in the form of a minority stake, subordinated loan or participating capital loan, subscription to a bond issue, unsecured loan or repayable advance, and participation in the acquisition of industrial property rights. It typically invests at most €1.25 million ($1.70 million) in companies with a turnover below €50 million ($68 million). Sambrinvest S.A. was founded on January 9, 1985 and is based in Gosselies, Belgium.

Capricorn Partners is an independent asset manager based in Belgium, established in 1993. The firm specializes in managing venture capital funds that focus on investing in innovative European companies leveraging technology as a competitive advantage. Its investment team consists of experienced managers with extensive expertise in technology and a broad range of industrial experience. Capricorn Partners aims to foster the growth of technology-based companies across Europe, enhancing their potential through strategic investments.

LeanSquare sa is a venture capital firm and accelerator specializing in seed, start-up and growth capital investments. The firm seeks to make equity investment between $0.1 million to $0.5 million. The firm is based in Liège, Belgium. LeanSquare sa operates as a subsidiary of Noshaq.

V-Bio Ventures is a venture capital firm based in Gent, Belgium, focused on investing in startup and early-stage companies within the life sciences sector. Established in 2015, the firm specializes in bio-pharmaceuticals, pharmaceuticals, diagnostics, and agriculture. V-Bio Ventures aims to support innovative companies, particularly those located in Europe, with a particular emphasis on Belgium. The firm typically takes minority stakes in its investments, allowing it to foster growth while sharing the entrepreneurial journey of its portfolio companies.

Gimv is a European investment company with over 30 years of experience in private equity and venture capital. Based in Antwerp, Belgium, Gimv manages approximately 1.8 billion EUR in investments across 85 portfolio companies, which collectively generate over 6 billion EUR in revenue and employ more than 28,000 people. The firm focuses on identifying and supporting entrepreneurial and innovative companies with high-growth potential, aiming to transform them into market leaders. Gimv operates through four main investment platforms: Consumer 2020, Health & Care, Smart Industries, and Sustainable Cities. Each platform is supported by a dedicated team and leverages an extensive international network of experts. Additionally, Gimv has a specific venture capital fund targeting the software sector in the Czech Republic, emphasizing investment in medium-sized and large growth companies.

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SmartFin Capital NV is a private equity and venture capital firm based in Mechelen, Belgium, with an additional office in London, United Kingdom. Founded in December 2014, the firm focuses on early-stage and growth investments in the smart technologies sector, particularly in financial technologies and related fields such as security, big data, analytics, artificial intelligence, and enterprise software. SmartFin seeks to invest between EUR 0.5 million and EUR 12 million in private growth companies throughout Europe, prioritizing those with significant potential for value creation in fast-growing market segments. The firm typically acquires minority stakes and provides follow-on investment options as needed. Its investment strategy is supported by multiple funds, including SmartFin Ventures, SmartFin Capital III, and SmartFin Ventures II, which target various sectors within technology and business services.

White Fund is a venture capital firm based in Liège, Belgium, that specializes in early-stage investments in the medical devices and medtech sectors. The firm focuses on projects that demonstrate proof of concept and show objective market traction. White Fund supports the pre-marketing phases of these projects and the subsequent launch of sales. It typically invests between €2 million and €3 million in each venture, spread across two to three financing rounds. The firm's investment strategy is primarily centered on Belgium but may extend to neighboring regions. With an exit target of five to seven years, White Fund is dedicated to fostering innovation in the medical device sector.

Seeder Fund is a Brussels-based venture capital firm focused on seed, start-up, and early-stage investments in digital companies in Belgium. The fund provides financing in various forms, including seed funding up to EUR 100,000 for young startups to help validate their value proposition and product-market fit. For start-ups preparing for Series A funding, it offers up to EUR 200,000 in convertible loans to support their growth potential and progress towards profitability. Additionally, Seeder Fund invests up to EUR 1 million in growth capital for scale-ups, typically in the form of equity stakes. While the fund prefers to invest in companies it has previously financed, it remains open to opportunities in other digital ventures.

The Faktory is a venture capital firm and accelerator based in Angleur, Belgium, specializing in the incubation and early-stage funding of startups, particularly in the broadcasting and business-to-business sectors. Founded in 2013 by Pierre L’Hoest, the firm focuses on innovative technologies, emphasizing the Internet of Things and connected devices. The Faktory invests between €0.2 million and €1 million per transaction, typically acquiring a minority stake of around 30%. With over €4.5 million in capital under management, it has supported 11 companies in markets such as consumer electronics, high-technology, gaming, and SaaS. The firm employs a structured approach to nurturing startups, utilizing methodologies like Lean Startup and Business Model Canvas to ensure thorough market analysis and customer validation. Additionally, The Faktory collaborates with Boldstart Ventures to leverage their extensive experience in venture capital and successful exits.

Falcon Fund NV is a private equity and venture capital firm specializing in growth capital, management buy-ins and buy-outs, and owner buy-outs in small and medium-sized companies. The firm primarily invests in mature companies in various industries, except high tech. The firm prefers to invest in companies in Belgium. It typically invests between €0.5 million ($0.6 million) and €2.5 million ($3.2 million) in companies with a minimum EBITDA of €1 million ($1.23 million). The firm prefers to take a majority stake, and in some cases a minority stake. Falcon Fund NV was founded in 2000 and is based in Torhout, Belgium.

Full Investment Portfolio: Foundation costs: 0.03% Intangible assets: 0.09% Tangible fixed assets: 3.75% Financial fixed assets: 47.71% Receivables: 20.96% Stocks and orders in progress: 0.02% Amounts receivable: 1.96% Investments: 16.47% Liquid assets: 8.54% Accrued charges: 0.46% Founded in 1995, Participatiemaatschappij Vlaanderen is a government organization based in the Belgium. The organization invests in startup projects.

Imec.xpand is an independently managed, game-changing way to enable early-stage nano electronics-based innovation powered by imec, the world-leading R&D hub for nanoelectronics and digital technology.

BNP Paribas Fortis is a commercial banking institution headquartered in Brussels, Belgium. Established in 2009, the bank serves a diverse clientele, including individuals, large and medium-sized companies, public institutions, and non-profit organizations. It offers a comprehensive range of financial products and services, including retail banking, corporate and investment banking, investment solutions, and cash flow management. The institution is deeply committed to social responsibility and sustainability, actively engaging in environmental initiatives, cultural support, and diversity policies through its BNP Paribas Fortis Foundation. The bank's governance is overseen by a Board of Directors, which sets the general policy and strategy, while the Executive Committee manages day-to-day operations. With a strong legacy rooted in Belgium's economic history, BNP Paribas Fortis is dedicated to meeting customer expectations with tailored solutions and expertise, supported by an international network spanning nearly 75 countries.

Nausicaa Ventures is a venture capital firm based in Louvain-la-Neuve, Belgium, established in 2009. The firm focuses on investments in early stage and early growth companies, specifically those completing Series C or Series D financing rounds, with investment amounts typically ranging from €1 million to €4 million. Nausicaa Ventures targets sectors such as healthcare, medical technologies, information and communications technology, manufacturing, and clean technology, primarily within a 300 km radius of Brussels, including regions in France, Luxembourg, the Netherlands, Switzerland, and the United Kingdom. The firm seeks opportunities where angel investors or family offices are already involved and has an average holding period of five years, aiming for exits within three to six years. Nausicaa Ventures was created by uniting 35 private investors and selected institutional investors, including the European Investment Fund, to bridge the equity gap for promising early-stage companies striving for profitable growth.

Saffelberg Investments is an independent financial and industrial holding controlling a portfolio of 250 million €. Saffelberg Investments focuses on long term investments by participating in majority or significant minority interests in fast-growing companies.

Korys is a Belgium-based family office established in 2000 by the Colruyt family, named after the Latin word for hazelnut tree, which connects to their family heritage. The firm employs a multi-disciplinary investment strategy, focusing on a diversified portfolio that includes listed stocks, bonds, private equity funds, and direct investments in small and medium-sized enterprises. Korys emphasizes a long-term investment approach aimed at generating attractive returns while fostering a positive impact on society and the environment, guided by their "three P" philosophy: People, Planet, and Profit. The firm's expertise spans several sectors, particularly Cleantech, consumer goods and retail, and life sciences, allowing them to invest effectively in companies at various stages, from seed funding to expansion.

Belfius Bank is a financial institution established in 1996 and headquartered in Belgium. It offers a range of banking and insurance products tailored for retail customers, small and medium-sized enterprises, not-for-profit organizations, and larger corporations. The bank's investment portfolio includes a diverse mix of cash and balances with the central bank, loans and advances, debt securities, equity instruments, and derivatives, reflecting its commitment to meeting the financial needs of local authorities and various sectors. Belfius Bank aims to provide accessible financial solutions while supporting the overall economic development within its community.

KBC Group NV, headquartered in Brussels, is a bank-insurance group that offers integrated financial services primarily to retail clients, private banking, and small to medium-sized enterprises. The company provides a wide range of products including demand deposits, savings accounts, home and mortgage loans, consumer finance, and SME funding. Additionally, KBC Group offers various insurance products, investment fund and asset management services, cash management, payments, trade finance, and corporate finance. As of December 31, 2019, KBC operated numerous branches across Belgium, the Czech Republic, Hungary, Bulgaria, and Ireland, serving customers through various channels, including agents and electronic platforms. KBC Private Equity, a division of KBC Group, focuses on providing development capital and financing for buy-outs in Belgium and Central and Eastern Europe, managing a diverse portfolio valued at over EUR 400 million. Founded in 1935 and rebranded in 2005, KBC Group continues to emphasize a long-term commitment to its investments and clients.

Société Régionale d'Investissement de Wallonie, founded in 1979 and based in Liège, Belgium, was a private equity and venture capital firm focused on providing equity capital and loans to support startups, growth capital, and mature companies. The firm specialized in a diverse range of sectors, including real estate, engineering, chemicals, telecommunications, and food production, while explicitly avoiding investments in steelmaking and the catering industry. It aimed to promote economic development in the Wallonia region by investing at least €1 million in its portfolio companies, seeking both majority and minority stakes. In addition to direct investments, the firm engaged in fund of funds investments and supported industrial projects within Belgium and beyond. Notably, on October 29, 2022, Société Régionale d'Investissement de Wallonie merged with SOWALFIN and SOGEPA to establish Wallonie Entreprendr, broadening its impact on the regional economy.

Fund+ NV is a venture capital firm based in Leuven, Belgium, specializing in startup and early-stage investments within the life sciences sector. The firm focuses on companies involved in therapeutics, diagnostics, and medical devices, primarily targeting those in advanced development stages. Fund+ typically invests between EUR 3 million and EUR 8 million and aims to acquire a significant minority stake of 10% to 20% in its portfolio companies. Established in 2015, the firm is dedicated to creating sustainable shareholder value, fostering leadership in the life sciences industry, and generating positive societal impacts. Investment decisions are made by the Management Committee or the Board of Directors, based on the amount invested.

Down 2 Earth Capital NV is a private equity firm based in Antwerp, Belgium, established in 2013. The firm specializes in growth capital financing and focuses on small and medium enterprises, particularly those with EBITDA between €1 million and €10 million and revenues from €10 million to €50 million. Down 2 Earth Capital engages in a variety of investment activities, including management buyouts, family succession, and equity recapitalization, while also providing moderate debt financing. The firm typically seeks both majority and minority stakes in its portfolio companies and maintains an investment horizon of five to eight years. With a deep understanding of the challenges faced by SMEs, the partners leverage their extensive private equity experience and a strong network of industry leaders to support the expansion of their investments.

Newion Investments B.V. is a venture capital firm based in Amsterdam, Netherlands, established in December 2000. It specializes in early-stage investments primarily in business-to-business software companies across North and West Europe, with a focus on the Benelux region. Newion avoids sectors such as retail, life sciences, and real estate, and does not invest in business-to-consumer companies. Its investment strategy includes direct equity stakes ranging from €0.25 million to €2.5 million, with a preference for minority stakes, although it may consider majority positions as well. The firm also invests in niche areas such as information and communication technology, cloud computing, and business intelligence. Newion supports its portfolio companies by providing non-Executive Board Members and interim Chief Financial Officers, and typically seeks to exit investments within five to seven years.

Vesalius Biocapital Partners S.à r.l., founded in 2007 and based in Strassen, Luxembourg, is a venture capital and private equity firm focused on investing in life sciences and novel food applications. The firm targets all stages of development, including seed, early, mid, and late-stage ventures, with a particular emphasis on healthcare, pharmaceuticals, therapeutics, medtech, biotechnology, and nanotechnology. Vesalius Biocapital seeks to support companies that develop innovative drugs, medical devices, and diagnostics addressing unmet medical needs, as well as novel nutrition technologies for disease prevention and treatment. The firm primarily invests in Europe, concentrating on the Benelux countries, German-speaking regions, and Scandinavia, typically committing between €1 million and €5 million in each portfolio company, with the possibility of increasing this amount in subsequent rounds. Vesalius Biocapital usually takes minority equity stakes and plays an active role by leading or co-leading investment syndicates and securing board representation in its portfolio companies. With over €150 million under management across two funds, Vesalius has contributed to the development of 20 companies since its inception.

Ark Angels Activator Fund N.V., based in Hasselt, Belgium, is a closed venture capital fund that ceased investing in March 2017. With a capital of 14.8 million EUR, it was recognized as ARKIV and obtained Private Privak status under Belgian law. The fund primarily focused on early and mid-venture companies located in Flanders, investing between 0.2 million and 1.5 million EUR. Initially, it acted as a co-investor alongside business angels from BAN Vlaanderen, later expanding to partner with other capital providers. Ark Angels Activator Fund aimed to support not only young growth companies but also those in the growth or transfer phase.

European Investment Bank (EIB) provides lending, borrowing, and treasury services primarily in the European Union. The company offers project loans for the public and private sectors; loans to banks and other intermediaries; structured finance products; guarantees and securitization instruments for senior and subordinated debts; project bonds; equity and fund investment products such as infrastructure equity and debt funds, and environmental funds; and venture capital funds and security packages for funds. The company also offers microfinance; risk sharing finance for research, development, and innovation projects; finance and technical expertise for sustainable energy projects; infrastructure project advisory services; support for urban development projects; guarantees for transport infrastructure; and funding for public-private partnerships and small- and medium-sized enterprises. EIB serves the transportation, global loans, energy, industry, health, education, water, sewerage, infrastructure, services, telecommunications, agriculture, and fisheries sectors. European Investment Bank was founded in 1958 and is based in Luxembourg.

Theodorus is the venture capital arm of Université Libre de Bruxelles in Belgium, focusing on seed, early-stage, and start-up investments exclusively in spin-offs from the university. The firm specializes in sectors such as biotechnology, medical devices, engineering technologies, and high tech. It primarily invests in the Walloon region of Belgium, providing funding that ranges from 0.25 million € to 2 million € per company. Theodorus operates from its headquarters in Brussels, Belgium, and maintains an additional office in Montreal, Canada, where it supports projects that utilize proprietary disruptive technologies.

Innovation Industries is a Netherlands-based venture capital firm established in 2017, specializing in early-stage investments in high-tech, med-tech, and agri-food tech companies. The firm adopts a hands-on management approach, offering entrepreneurs not only financial support but also valuable expertise, industry knowledge, and connections to enhance their ventures. By actively assisting portfolio companies, Innovation Industries aims to strengthen their value propositions, accelerate their time-to-market, and facilitate strategic partnerships while helping them navigate common start-up challenges. Although the firm primarily focuses on start-ups, it also invests in scale-ups, ensuring a broad spectrum of funding capabilities. This approach allows Innovation Industries to sustain emerging breakthroughs in research and technology with sufficient venture capital, ultimately optimizing the companies' chances of success and delivering returns to its investors as these businesses grow and develop.

Boehringer Ingelheim is a global pharmaceutical company based in Ingelheim am Rhein, Germany, with a focus on improving patient care through innovation. Established in 2010, the Boehringer Ingelheim Venture Fund specializes in early-stage investments in life sciences, biotechnology, and digital health. The fund targets groundbreaking therapeutics and novel technologies, emphasizing areas such as immuno-oncology, regenerative medicine, and disease-related biomarkers. It typically invests up to €15 million over the lifetime of a company, with a specific focus on North America and Europe/Israel. Boehringer Ingelheim's commitment to advancing biomedical research aims to enhance patient outcomes through pioneering science and the development of new therapeutic concepts.

Astanor Ventures is a venture capital firm established in 2017 and based in Brussels, Belgium, focusing on early-stage investments in the agri-food and agriculture sectors. The firm is dedicated to supporting entrepreneurs who are innovating within the food system, blue ocean economy, and agriculture, specifically targeting technology-enabled companies that aim to create a nourishing, regenerative, and trustworthy food future. Astanor Ventures manages multiple funds, including Astanor Good Harvest Ventures I, which was launched in 2018 and invests in Europe and North America, and Astanor Ventures II, initiated in 2023, targeting investments in Italy, France, and Ireland. Both funds prioritize impact investments in agtech and foodtech, seeking to support over 45 companies globally while leveraging a strong network of entrepreneurs, impact investors, and experts in the field.

Cobepa is an independent investment company founded in 1957 and based in Belgium, with additional offices in New York. With a net worth of EUR 1.8 billion, it has established itself as a significant player in the private equity sector. Cobepa focuses on making medium to long-term investments, allowing it to support the growth and development of its portfolio companies in partnership with their management and other shareholders. The firm prides itself on its investment team's expertise and adopts a flexible investment approach. Cobepa is guided by core values of commitment, transparency, integrity, and independence in all its business dealings.

AgroSavfe nv, a Belgium-based agro-biotech company

GE Equity, a division of General Electric, focuses on maximizing returns on the company's investment capital through strategic equity investments. Established with a blend of extensive equity investing experience and the operational expertise of GE, the division primarily seeks minority ownership stakes in established companies that exhibit high growth potential. GE Equity emphasizes various investment strategies, including growth capital, buy-out co-investments, secondary direct purchases, recapitalizations, and limited partner investments. The division leverages GE's global reach and industry knowledge to identify and capitalize on promising investment opportunities across diverse sectors.

Proximus is a Belgian telecommunications company founded in 1994, providing a wide array of digital services including voice, internet, television, and network-based ICT solutions. The company focuses on delivering integrated end-to-end solutions that combine fixed and mobile telecom services with IT and media offerings. By leveraging its Intelligent Networks, Proximus enables seamless connectivity and communication across various platforms, facilitating services in entertainment, education, security, healthcare, and energy management. The organization aims to enhance user experiences through intuitive interfaces that work consistently across multiple devices. With a commitment to innovation, Proximus positions itself as a reliable partner for businesses seeking comprehensive and flexible solutions tailored to their needs.

Federal Holding and Investment Company is a private investment firm operating as the sovereign wealth fund of the Kingdom of Belgium. Established in 2006 from the merger of the Federal Participation Company and the Federal Investment Company, it focuses on managing the federal government’s shareholdings to benefit the Belgian economy. The firm primarily invests in sectors such as aeronautics, airports, real estate, and sustainable development, with an emphasis on innovation and addressing the challenges of an aging population. It seeks opportunities in both public and private companies and aims to secure at least one representative in the administrative bodies of its portfolio companies. Based in Brussels, Federal Holding and Investment Company actively pursues international investments to diversify its portfolio.

Waterland Private Equity is an investment group that supports entrepreneurs in realizing their growth ambitions. With substantial financial resources and committed industry expertise, the company enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. It acts as an active shareholder in its portfolio companies, playing a key role in their strategic and operational development, growth, and performances. It is a member of the Dutch Private Equity Association (NVP), the Belgian Venturing Association (BVA), the European Private Equity and Venture Capital Association (Invest Europe), the German Private Equity and Venture Capital Association (BVK), the Polish Private Equity Association (PSIK), the Swiss Private Equity and Corporate Finance Association (SECA), and the Austrian Private Equity and Venture Capital Organization (AVCO). The portfolio businesses of the company are Inashco, L'biotica, Keylane, Aevitae, and Base Logistics. The offices of the company are located across the Netherlands, Germany, Belgium, and Poland. Waterland Private Equity is a Netherlands-based company that was founded in 1999.

Index Ventures is a venture capital firm established in 1996, with offices in London, San Francisco, and Geneva. The firm specializes in investing in high technology and life sciences, focusing on early-stage companies across various sectors including artificial intelligence, machine learning, fintech, healthcare, and entertainment. Index Ventures partners with innovative entrepreneurs who aim to transform their industries and has supported the growth of notable companies such as Adyen, Deliveroo, Dropbox, Farfetch, King, Slack, and Supercell. The firm's investment strategy typically involves allocating between $2 million to $20 million to promising ventures, primarily in Europe and the United States.

Hummingbird Ventures is a venture capital firm focused on supporting high-growth technology companies. The firm partners with exceptional entrepreneurs to foster innovation in the digital media and software sectors. Hummingbird has a notable portfolio that includes companies such as Deliveroo, Showpad, and Kraken, among others. With offices in London, Ghent, and Istanbul, Hummingbird Ventures offers its partners quick access to essential operational resources and strategic advice, leveraging its extensive operational expertise and global network to accelerate startup growth. The firm emphasizes the importance of emotional intelligence alongside data-driven decision-making, contributing to a strong internal culture that supports its mission.

Newton Biocapital is a Venture Capital Fund incorporated in Belgium, focused on financing biotech and life science projects in the "core of Europe" (B, NL, D, F) and Japan for the prevention and treatment of chronic diseases. Their approach as lead investor is to support promising start-up projects as well as neglected or undervalued late-stage projects, in order to mitigate the risks and to create investor value. The leadership team consi.sts of specialists with long-standing management and investor experience who coach bio-entrepreneurs through the development stages of their projects.

Bpifrance Financement S.A. is a French financial institution that provides a range of financing solutions and support services aimed at fostering the growth of startups, small and medium-sized enterprises (SMEs), and mid-cap companies. It offers various financial products, including medium to long-term loans, export insurance, and leasing options for both tangible and intangible assets. Additionally, Bpifrance supports companies through consulting services, guarantees for bank financing, and training for executives. The organization also engages in direct investments and manages funds aimed at enhancing the financial landscape for businesses at different stages of their development. Established in 1980 and based in Maisons-Alfort, France, Bpifrance was formerly known as OSEO S.A. and rebranded in July 2013. It operates as a subsidiary of Bpifrance SA, reinforcing its commitment to bolstering the French economy through diversified financial solutions.

Parcom Capital is a private equity firm based in Amsterdam, Netherlands, that specializes in midmarket investments across various sectors, including technology, trade and services, production, oil & gas, industrials, and distribution. Established in 1982, the firm focuses on management buyouts, succession situations, public to private transactions, and complex carve-outs, typically targeting companies with enterprise values between €20 million and €200 million. Parcom Capital primarily invests in mid-sized companies headquartered in Europe, particularly in the Benelux region, France, England, Italy, Germany, and Switzerland. The firm generally seeks majority stakes in its portfolio companies, although it may consider minority investments in buy and build or growth capital scenarios. With over €1.5 billion of capital at its disposal, Parcom Capital emphasizes a long-term investment approach to support management teams in achieving their growth objectives. The firm also engages in venture capital by investing in funds and making direct investments.

Finindus is a venture capital firm based in Zwijnaarde, Belgium, established in 1926 and funded by ArcelorMittal and the Flemish Region. The firm specializes in providing early-stage and growth financing, both in equity and debt, to innovative companies within the metal value chain. Finindus focuses on sectors such as new alloys, surface functionalization, composite materials, and sustainable manufacturing technologies, including energy-efficient practices and waste valorization. Investment amounts typically range from 0.5 to 5 million euros per round, with a maximum of 10 million euros per company. While primarily targeting opportunities in Europe, particularly in Flanders, Finindus is open to exploring ventures in other regions that align with its core interests. The firm actively supports its portfolio companies by leveraging its extensive network and providing access to the resources and expertise of the OCAS metal research center.