PMV is a Flemish public investment company that provides financing and guidance to startups, scale-ups, sole proprietors and mature SMEs to drive sustainable growth in Flanders. It offers a range of financial products, including standard loans, guarantees, co-financing and equity options, as well as tailored solutions for growth, buy-outs or buy-ins; products such as Winwinlening and Friends' equity are available. In addition to financial support, PMV finances sustainable real estate development, infrastructure and energy projects in Flanders, supported by funds like the PMF Infrastructure Fund and the Belgian Growth Fund, and by funds managed or co-managed with PMV (for example EPICo and EPICo²). Its client base ranges from early-stage startups to large enterprises seeking durable value through real estate, energy and infrastructure investments. The organization collaborates with the government and partners to promote prosperity and well-being in Flanders.

Noshaq is a Liege-based venture capital firm that provides equity and flexible financing to small and medium-sized companies in the Liège Province, Belgium. Founded in 1985, it concentrates on seed, startup and growth capital across sectors such as energy, sustainable development, biotech, digital, Industry 4.0, real estate, quality food, and cultural industries. The firm typically takes minority stakes and may offer a board seat, along with convertible bonds, loans and strategic projects. It combines financial investment with strategic guidance to support companies through development stages, leveraging sectoral expertise and tailored interventions. Noshaq seeks to act as a catalyst for local economic development by aligning capital with management support for companies and projects in its priority sectors within the province.

V-Bio Ventures is an independent life science venture capital firm based in Ghent, Belgium, that funds and builds early to mid-stage companies across Europe. It backs start-ups in biotech, pharmaceuticals, therapeutics, diagnostics, and sustainable agriculture with high growth potential, emphasizing differentiated technologies that address unmet needs and offer societal or environmental impact. Beyond capital, the firm provides strategic guidance, access to its network, and collaboration opportunities with research institutions to accelerate development. It maintains partnerships with entities such as VIB and engages with European funding programs to support portfolio companies. The team combines venture capital experience with scientific and industry expertise to support entrepreneurs in translating science into commercial solutions, aiming to co-create startups rather than merely invest.

The European Innovation Council is a European Commission initiative that supports Europe’s deep-tech innovators, researchers, and startups. It funds breakthrough research and technology transfer projects, and delivers equity-like investments through the EIC Fund, as well as prizes and acceleration services to help teams scale. The council also co-invests with private investors in early-stage ventures and places emphasis on high-impact technologies with ESG relevance. Established in 2018 and headquartered in Brussels, it concentrates on deep-tech sectors including defence and dual-use technologies, while promoting international collaboration and market access for awardees. It aims to strengthen Europe’s innovation ecosystem by sharing data, hosting events, publishing insights, and fostering partnerships that accelerate the journey from lab to market.

Agri Investment Fund is a Leuven, Belgium-based private equity and venture capital fund backed by the Boerenbond group, focused on Ag-Tech and Agro-Food investments to strengthen sustainable land- and horticulture. It pursues a long-term investment approach leveraging a farming network to reduce environmental footprint while maintaining production and enabling farmers to deliver high-quality products at fair prices. The fund's portfolio includes Animab, Aphea.Bio, and Better3fruit, reflecting its emphasis on innovative agri-tech and biologics-driven agricultural solutions.

Inventures Investment Partners is an impact investment firm based in Brussels, Belgium, founded in 2011. It manages two venture capital funds, Inventures I and Inventures II, devoted to backing European early-stage and growth companies that pursue social and environmental goals while delivering financial returns. Inventures I, a €15 million fund, supports a portfolio of companies addressing health, education, and sustainability; Inventures II, a €35 million fund, targets smart and innovative European SMEs aligned with United Nations Sustainable Development Goals and encourages co-investments within the ecosystem. The firm emphasizes integrating impact into business models and seeks measurable progress toward SDGs by 2030, reflecting a commitment to sustainability, innovation, and collaboration. The company is headquartered in Brussels and operates to reconcile profitability with positive social impact through strategic funding and ecosystem engagement, including platforms that enable citizenship co-investments.

Volta Ventures is a venture capital firm based in Ghent, Belgium, with additional operations in Amsterdam, that backs Benelux software and internet companies, especially B2B software and SaaS. It provides seed and early-stage capital and offers hands-on support to portfolio companies, helping founders with go-to-market strategies, talent recruitment, and international growth. The firm focuses on companies originating in Belgium, the Netherlands, and Luxembourg and seeks scalable software solutions for business customers.

AXE Investments is a Belgian venture capital firm based in Antwerp that serves as a minority partner in growth-oriented companies. It operates as part of the Anacom Group through a joint venture between Anacom (controlled by Christian Leysen) and Sofinim (Ackermans & van Haaren), forming a member of the Axe Group. The firm concentrates on investments in logistics, technology-based services, real estate, and related financial assets to balance risk and support long-term value creation.

Heran Partners is a Belgian venture capital firm focused on European healthtech, medical technology, deep tech, and digital health. Founded in 2020 and headquartered in Antwerp, it provides venture and growth capital along with mentorship and access to a strong professional network for startups and scale-ups with innovative technology platforms and clear market potential. The firm emphasizes backing teams with solid scientific backgrounds and entrepreneurial drive to advance healthcare through technology. Its portfolio includes Fluidic Sciences, which develops microfluidic platforms for biologics discovery; Pharmacelera, applying in-silico drug discovery; and Gynaia, building AI-powered diagnostics in women's health. Heran Partners actively seeks promising ventures and invites pitches from startups addressing meaningful healthcare challenges across Europe.

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.

Capricorn Partners is an independent venture capital firm based in Leuven, Belgium, founded in 1993. It concentrates on technology-enabled growth companies across Europe and the Benelux, investing in digital, health, and clean technologies and targeting sectors including information technology, software as a service, manufacturing, life sciences, oncology, big data, and digital health. The firm operates through multiple investment vehicles to back innovative European companies with a competitive technology edge and has around 300 million euros in assets under management. With decades of experience, Capricorn Partners supports portfolio companies as they scale, enter new markets, and accelerate innovation.

Gimv is a European investment company focusing on private equity and venture capital, with long-term equity investments in innovative companies across Europe. Founded in 1980 and based in Antwerp, it operates through four platforms: Consumer Healthcare, Smart Industries, Sustainable Cities, and Anchor Investments. Gimv backs entrepreneurial companies, particularly in the Benelux, France and the DACH region, using patient capital and a long-term perspective. Its portfolio comprises about 60 to 85 companies, generating roughly 5 to 6 billion euros in turnover and employing over 20,000 people, with investments spanning sectors such as consumer, healthcare, life sciences, smart industries, energy, digitalisation, and sustainable cities.

Seeder Fund is a Brussels-based venture capital firm that concentrates on early-stage and growth capital for digital startups in Belgium and internationally. It provides seed money and early rounds, with seed funding up to 200,000 EUR and up to 300,000 EUR for startups preparing for Series A, and it can invest in scale-ups with a capital stake up to 1,000,000 EUR. The firm also engages in convertible venture debt and growth capital investments. It prefers to participate in follow-on rounds for companies it has previously financed, but is open to new opportunities. The approach emphasizes rapid decision-making, personalized support, and leveraging a broad network to help entrepreneurs validate value propositions, accelerate product-market fit, and scale operations.

KBC Securities is a Brussels-based securities and brokerage firm that provides corporate finance and financing advisory services. Founded in 1991, it offers advisory and execution in equity capital markets, mergers and acquisitions, syndication, equity market making, loans and debt markets, project finance, export finance, leveraged finance, initial public offerings, secondary offerings, bonds, private placements, and fairness options. The firm serves European equities, with a focus on biotechnology, information and communication technology, and research sectors.

The Faktory is a Belgium-based accelerator and early-stage venture firm that backs disruptive technology startups in the Internet of Things and software as a service sectors. Based in Liège, it targets opportunities in BeNeLux and France, offering incubation, seed funding and hands-on support to help startups grow. Founded by Pierre L’Hoest and Simon Alexandre, The Faktory provides a 360° review process and ongoing guidance in strategy, sales, marketing and product development, helping teams validate markets and deploy their offerings. Investments range from approximately €250,000 to €1 million per company, typically taking a minority stake around 30 percent. The Faktory combines capital with practical industrial expertise and a network of mentors to accelerate product development and market entry, aiming to support founders through the early scaling phase and foster sustainable growth.

Finance&Invest.Brussels is a Brussels-based venture capital firm that serves as a financial partner to Brussels entrepreneurs and supports the financing chain for value-creating companies in the Brussels-Capital Region. It offers tailored financing across three groups—independents, artisans, traders and very small enterprises; startups and scale-ups; and mature SMEs—aiming to promote sustainable, non-offshorable jobs and economic resilience. Through its ecosystem in Brussels and the Brusoc subsidiary, it provides loans, guarantees and co-investment opportunities up to €5 million in collaboration with banks, funds and other financial actors. Instruments include convertible notes, subordinated debt (mezzanine) and equity participations, complemented by guarantees and dedicated funds such as the Fonds bruxellois de garantie, ENERGY&RENO and the Fonds de transition économique. The firm invests across sectors including information technology, healthcare, B2C, B2B, financial technology, food technology, Internet of Things, artificial intelligence, SaaS and human resources technology, working with European funding partners to mobilize capital for Brussels-based projects.

Sambrinvest is a private equity and venture capital firm based in Charleroi, Belgium, focused on supporting small and medium-sized enterprises in the Charleroi Sud-Hainaut and Thuin districts. It conducts direct investments and tailored financing, offering minority equity, subordinated loans, bonds, unsecured loans, or repayable advances to growth-oriented companies across diverse sectors, including biotechnology, digital, agri-food, automotive, manufacturing, life sciences, and services. The firm combines capital with hands-on board participation and sector expertise, notably in medtech and life sciences, and maintains regional partnerships such as BioPark Charleroi. With a portfolio of more than 300 companies and over €250 million managed, Sambrinvest has a long-standing presence since 1985 and pursues growth-focused initiatives for SMEs in the Charleroi Métropole region.

TCD Capital is a venture capital firm based in Belgium with activities in Brussels and Antwerp. Established in 2016, it invests in technology, life sciences, and smart living companies across Europe, with a focus on scaling growth-stage ventures. The firm emphasizes governance and value creation, applying disciplined governance principles in selecting investments and supporting portfolio companies. It seeks partnerships with ambitious founders and offers resources to strengthen governance and share knowledge for entrepreneurs and investors. Sectors of interest include MedTech, BioTech, HealthTech, and related digital and industrial applications, with an emphasis on sustainable and ESG-aligned outcomes. Through its portfolio-building approach and collaborations, TCD Capital aims to help scale-ups reach broader markets and achieve long-term growth.

The Innovation Fund is a Belgian venture capital and investment fund based in Schaerbeek, established in 2015 with initial capital of 13 million euros that grew to 35 million euros after a 2019 capital increase, backed by major industrial companies as a public-private co-investment vehicle to support innovative startups and companies in chemistry and life sciences as well as related sectors. It targets investments in healthcare services, life sciences, material science, biosciences, process technology, hygiene and cosmetology, and recycling technology, providing capital across early stages to ventures with proven academic R&D, and supports portfolio companies through a mentoring network known as the Innovation Circle led by industry leaders and academics, aiming to foster future champions in the Belgian chemistry and related sectors.

Imec.xpand is an independently managed venture capital firm based in Leuven, Belgium, with an office in Amsterdam. Founded in 2017, it focuses on supporting early-stage nanoelectronics-based innovation. The firm leverages the resources and network of imec, a world-leading R&D hub for nanoelectronics and digital technology, to help portfolio companies develop and scale technologies in areas related to deep tech, health, and agtech. By combining venture capital funding with access to imec's research ecosystem, imec.xpand aims to accelerate commercialization of novel nanoelectronics-enabled solutions.

Fortino Capital is a Belgium-based European private equity and venture capital firm focused on B2B software, SaaS, and AI-enabled technology. It partners with mid-market leaders to accelerate growth, offering capital, operational expertise, and strategic guidance, including support for go-to-market initiatives and potential mergers and acquisitions. The firm targets growth and expansion investments in Western Europe, with activity across the Benelux region and broader Europe, and maintains offices in Belgium, Germany, and the Netherlands. Fortino Capital backs software, IT services, and related technology sectors, and has funded ventures in Belgium, France, Germany, Luxembourg, and the Netherlands.

Nausicaa Ventures is a Belgian venture capital firm founded in 2009 and based in Louvain-la-Neuve with an office in Mechelen. It focuses on funding early-stage and early-growth companies in and around Belgium, aiming to bridge the equity gap for promising ventures. The firm typically invests €1–€4 million per round and targets opportunities within roughly 300 km of Brussels, spanning France, Luxembourg, the Netherlands, Switzerland, and the United Kingdom, with activities centered on medtech, information and communications technology, high-tech, manufacturing, clean technology, and related sectors. It operates with experience from a diverse investor base and seeks to invest alongside angel investors or family offices. The average holding period is about five years, with exits typically after three to six years. The objective is to support companies through growth and to work closely with management toward successful exits.

Fund+ is a Leuven, Belgium-based venture capital firm focused on life sciences, including diagnostics, therapeutics, and medical devices. It backs startup, seed, and growth-stage companies across Europe, often taking a meaningful minority stake. Typical commitments range from 3 to 8 million euros, with investment decisions reserved for the management committee or the board depending on deal size. The firm seeks to support advanced development programs and aims to create sustainable shareholder value while contributing to leadership in the life sciences sector and generating societal impact. Fund+ emphasizes long-term partnerships with innovative companies in Belgium and neighboring markets, helping portfolio firms advance through product development and clinical validation.

SmartFin is a European investment firm focused on funding business-to-business technology companies. Headquartered in Brussels with offices in Mechelen and London, it backs growth and venture opportunities across Europe, typically taking minority equity stakes and supporting follow-on investments when appropriate. The firm targets technology sectors including information technology, fintech, and other B2B software and digital services, emphasizing strategic guidance and operational support to help portfolio companies scale and expand across the European market.

Ark Angels Activator Fund is a venture capital fund based in Hasselt, Belgium. It targets early‑stage and growth investments in Belgian companies, with a focus on the Flanders region and technology‑driven sectors such as software. The fund operates in collaboration with ING Belgium and the Business Angels Network Vlaanderen, co‑investing with other capital providers to back ambitious Belgian start‑ups and growth companies.

Akiles is an evergreen growth investor based in Belgium that supports Belgian small and medium-sized enterprises and select European companies through long-term partnerships. It provides growth capital, minority investments, and owner buy-outs to help portfolio companies expand, enter new markets, or pursue acquisitions, while delivering ongoing strategic guidance and access to networks. The firm operates across growth stages and sectors including B2B, B2C, energy, financial services, materials and resources, and technology. Backed by entrepreneurial families and led by a multilingual team with extensive experience, Akiles emphasizes a long-term approach and collaborative support to accelerate sustainable growth.

Spreds is a Brussels-based crowdfunding platform that connects entrepreneurs seeking funding with investors by enabling co-investment with professional investors in startups, scale-ups and small and medium-sized enterprises across Europe within a regulated framework. The platform operates under Belgian crowdfunding rules and is FSMA-accredited, providing investor protection and transparency. Investments are facilitated through a secure, curated process and a protected financial structure. Spreds presents opportunities in areas such as sustainability, food innovation and artificial intelligence, and offers a tax shelter program that can provide meaningful tax reductions on investments. By combining individual resources with professional expertise, the platform supports entrepreneurial projects while aligning with regulatory requirements and prudent investing practices.

Capital-E is a European venture capital firm based in Antwerp that provides early-stage funding to companies in semiconductors, advanced materials, processing, metrology and instrumentation, consumer electronics and multimedia, and communications and networking. The firm focuses on enabling electronics and related technologies, supporting ventures through active involvement and board participation. It maintains an enduring collaboration with IMEC, a leading research center in micro- and nano-electronics, which gives portfolio companies access to more than 2000 scientists and engineers and to a global network of partners to accelerate product adoption. Capital-E emphasizes relationships with entrepreneurs, investors, and research institutions across Western Europe, with a regional emphasis on the Benelux and adjacent markets. While it funds early-stage companies, it also pursues a hands-on approach to help portfolio companies scale, leveraging its technical domain expertise to back solutions that improve performance, power efficiency, and system integration in next-generation electronics and related sectors.

EIT Food is a European initiative established in 2022 and supported by the European Union, dedicated to transforming the European food system through innovation, collaboration, and entrepreneurship. Its mission is to create a sustainable, resilient, and healthy food future by advancing healthier lives through food, net-zero food systems, and protein diversification, alongside initiatives in resilient agriculture and agri-food biotech. The organization supports startups and other stakeholders through open calls, funding instruments, and community-building activities, aiming to mobilize investment and bring innovative products to market. By 2035 it seeks to mitigate CO2 emissions, equip farmers with new skills, and foster broader impact across the value chain by connecting startups, corporations, consumers, and researchers to drive systemic change in the food system.

Torus Capital is a Belgian venture capital firm based in Haaltert that focuses on information technology and software-as-a-service companies. It operates as an early-stage investor that functions as a late cofounder, typically leading rounds of €1–2 million and providing active support from the board level to help portfolio companies scale from early traction to substantial revenue. Each investment is led by a Venture Partner who invests personally, assumes a board seat, and provides dedicated time and responsibility. The firm's approach emphasizes high conviction, concentrated ownership, and long-term alignment with the goals of individual portfolio companies.

Partech is a global venture capital firm headquartered in Paris with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco. Born in San Francisco and with about four decades of activity, Partech combines capital with operational experience and strategic support to back founders from seed to growth. It manages roughly €2.5 billion in assets and has a portfolio of some 220 companies across 40 countries on four continents. The firm backs technology-enabled companies across software, cybersecurity, fintech, healthtech, mobility and other TMT sectors, investing across Europe, Africa and North America. Partech emphasizes long-term partnerships, leveraging a global network and strategic collaborations to help portfolio companies scale, enter new markets and build sustainable competitive advantage.

Industrya is a venture capital firm and an initiative of the John Cockerill industrial group, based in Seraing, Belgium, founded in 2020. It backs startups in Industry 4.0, energy transition, and new materials with hands-on support from seed to scale-up, providing early seed and Series A/B capital and partnering with other investors to foster a robust startup ecosystem.

Innovation Industries is a venture capital firm based in Amsterdam, Netherlands, founded in 2017, that targets early-stage technology companies in Europe, with a focus on high-tech, medtech, agtech and related fields. The firm follows a hands-on approach, leveraging its experience, networks and partnerships to support portfolio companies beyond financing, helping them refine value propositions, shorten time-to-market, and pursue global strategic collaborations. While primarily investing in start-ups, Innovation Industries also backs scalable ventures, aiming to sustain breakthroughs in research and technology and to generate returns for its investors. Its portfolio concentrates on technology-driven sectors within the region, and the firm emphasizes practical guidance and close collaboration with entrepreneurs to maximize growth and impact.

XAnge is the innovation-driven venture capital brand of the Siparex Group, a European investment firm focused on backing early-stage technology startups. Based in Paris with offices in Berlin and Brussels, XAnge invests in seed and early-stage companies across Europe in sectors such as cybersecurity, deeptech, fintech, healthtech, SaaS, and digital infrastructure. It seeks game-changing founders and supports scaling through strategic guidance and operational expertise, leveraging a cross-border team with experience across technology, industrials, and impact sectors. Notable portfolio companies include Ledger and Believe, reflecting a track record of helping startups grow and expand internationally. XAnge emphasizes active partnership with entrepreneurs to navigate evolving markets and build sustainable businesses.

Be Angels is a European business angel network based in Brussels, Belgium. It connects founders with experienced angel investors to provide equity financing and coaching for early-stage companies across sectors such as SaaS, biotechnology, AI, robotics, automotive technology, construction, hospitality, healthcare, information technology, energy, and financial services. The network offers dealflow management, mentorship, and educational resources through BeAngels Academy, and organizes fundraising events. It operates primarily in Belgium, Luxembourg, and France and counts around 250 members. Through its activities, Be Angels has facilitated more than 10 million euros in funding for innovative startups over the past four years. It collaborates with professional partners to assist private investors with capital gains tax guidance, strengthening support for founders and their backers in the region.

WapInvest is a regional investment fund and venture capital firm based in Wallonie Picarde, Belgium, dedicated to supporting small and medium-sized enterprises through creation, innovation, growth, investment, transmission and export. It provides high-balance-sheet funding by participating in equity and offering long-term investment loans, working-capital credit, and fixed-term advances, with financing solutions tailored to each growth phase. With more than 30 years of local presence, its experts combine financial expertise with a close, flexible approach and a local interlocutor who understands the territory. WapInvest serves companies across sectors, including family-owned firms, and aims to strengthen long-term competitiveness and regional economic development through sustainable growth and internationalization, acting as a reliable partner and conduit to other private and public funding sources.

Angelwise is a Belgium-based venture capital firm specializing in information and communication technology, focused on investing in startups and early-stage companies in the Benelux region with real problems, large market potential, strong founders, initial customers, and scalable, capital-efficient business models. It makes initial equity investments in the range of EUR 200k to EUR 600k, with potential follow-on funding up to EUR 3 million across rounds, and is supported by managers with entrepreneurial and operational experience who remain accessible to entrepreneurs. In addition to capital, Angelwise provides proactive, hands-on support and direct access to its network to accelerate growth and contribute to digital transformation. Founded in 2022 and based in Hasselt, Belgium, the firm seeks to build an ecosystem around its portfolio and collaborates with portfolio companies to help them scale and achieve international growth.

Finindus is a venture capital firm based in Zelzate, Belgium, focused on funding smart and green industrial technologies across the metal value chain. Backed by ArcelorMittal and the Flemish Region and tied to OCAS, a metal research center with campuses in Zelzate and Zwijnaarde, Finindus supports early-stage and growth companies active in materials, sustainable manufacturing, and Industry 4.0, including energy, information technology, manufacturing, and related sectors. The firm provides equity and debt financing, typically investing 0.5 to 5 million EUR per round, with a maximum of about 10 million EUR per company, primarily targeting Europe with a Flanders emphasis, while also considering opportunities elsewhere aligned with its core domains. As an active investor, Finindus leverages its network and access to researchers and OCAS infrastructure to aid value creation, focusing on long-term impact in the metal value chain. The approach combines strategic funding with experiential guidance to accelerate portfolio companies' growth in sustainable manufacturing and advanced materials.

Droia Ventures is a venture capital firm based in Zaventem, Belgium, focused on therapeutics for oncology and genetic diseases. It invests globally in early‑stage biotechnology and drug development companies, supporting them from inception to clinical proof of concept. The firm combines a hands‑on approach with a team of drug development experts and biotech professionals skilled in disease biology, translational science, and clinical development, aiming to back technologies that address unmet medical needs and deliver meaningful patient benefit. Droia operates Droia Labs as its scientific arm, validating new ideas and providing state‑of‑the‑art facilities. Through its portfolio, Droia seeks to accelerate the journey from discovery to clinical development and help bring first‑in‑class candidates to patients.

Novalis Biotech is a venture capital firm based in Ghent, Belgium that focuses on early-stage life sciences and biotechnology investments. It supports startups from pre-seed to Series A with funding, strategic guidance, and access to a professional and academic network, emphasizing enabling technologies such as bioinformatics, genomics, diagnostics, and digital health. The firm seeks to foster capital-light business models and platform technologies that advance disease prevention, diagnosis, and treatment, providing value through connections and strategic support across healthcare and biotechnology fields.

Hummingbird Ventures is a global venture capital firm that backs outlier founders building fast-growth technology companies. Founded in 2010 and based in London, with a presence in Antwerp, Ghent and Istanbul, the firm invests from seed to early-stage rounds across sectors including fintech, biotech, AI, deep tech, blockchain, healthcare, SaaS, gaming, hardware and IT, and provides patient capital along with hands-on operational support to help portfolio companies scale. It emphasizes long-term partnerships and a broad geographic footprint across North America, Europe, the Middle East and Africa (EMEA), and Asia-Pacific (APAC). Notable investments include Deliveroo, Kraken, Peak Games, Showpad, Gram Games, Clear2Pay, Amplidata, BillionToOne, Lovable and Shutl.

CAREvolution is a venture capital firm based in Brussels, Belgium, that funds and develops healthcare innovations. Originating from a collaboration between Belgian health insurance funds Helan and Partenamut, CAREvolution targets seed and early-stage investments in solutions that improve health and wellbeing. It focuses on autonomy technologies that support independent living, healthier living tools that empower individuals to manage their health, and workplace prevention initiatives that promote employee wellbeing. The firm aims to advance innovative health solutions, enhance patient experience, and contribute to affordable, accessible care through strategic investment and development initiatives.

Allegro Investment Fund is a Leuven, Belgium-based venture capital firm that concentrates on early-stage and spin-off investments in high-technology and disruptive technology companies. Backed by more than four decades of collective experience in high-tech start-up management, the firm provides capital and strategic support to seed and early-round opportunities with potential access to large markets across engineering, green energy, wireless technology, medical and diagnostic devices, electronic components, and new materials. Founded in 2005, the fund seeks portfolio companies with leadership potential in their markets and contemplates exits through an IPO within several years.

Epimède is a venture capital investment firm based in Liège, Belgium, that provides funding and strategic support to small and medium-sized non-listed technology companies. Founded in 2015, it targets sectors including life sciences, biotechnology, medtech, engineering services, information and communication technologies, cleantech, and corporate services, with a focus on companies headquartered or primarily operating in Wallonia. The firm engages in early-stage and growth capital investments, typically taking minority stakes and participating in governance to influence key strategic decisions. Epimède aims to help portfolio companies grow through hands-on involvement, leveraging local expertise and a regional network in Wallonia.

Internet Attitude is a venture capital firm focused on information technology and internet-related start-ups and growth-stage companies in Belgium and France. It typically makes equity investments of €0.3 million to €1 million, takes minority stakes, and maintains an active role in portfolio company management. The firm pursues Balance Sheet Investments and co-investments as part of its capital strategy. Founded in 2010, Internet Attitude targets sectors such as software, SaaS, data mining and search algorithms, web and mobile applications, ICT and related deep tech.

Asabys Partners is a venture capital firm headquartered in Barcelona, Spain, founded in 2018, that invests across life sciences and healthcare, including health-tech and biopharma, aiming to back innovative and transformative technologies domestically and internationally. The firm sources and funds disruptive technologies and positions itself as a collaborative partner to portfolio companies, working to advance therapeutics, diagnostics and medical technology. It emphasizes responsible investing with ESG considerations and alignment with sustainable development goals. By supporting disruptive science and medicine, Asabys seeks to push the boundaries of science while enabling talented entrepreneurs and researchers to bring impactful solutions to market.

Vectis Private Equity is a Belgian private equity firm founded in 2004 and based in Aalter. It targets buyouts and growth capital investments in Belgian small and medium-sized enterprises, primarily in the B2B sector, and provides financial and strategic support to portfolio companies to facilitate growth, often partnering with existing shareholders. The firm operates across Belgium and pursues opportunities in sectors including consumer-related, healthcare, technology, and other industries, reflecting a broad investment scope. In 2026 it launched a new fund to further back ambitious growth plans for Belgian SMEs.

ING Corporate Investments is a private equity investment firm based in Brussels, Belgium. It provides buyout, development and venture capital to small and medium-sized enterprises in Belgium, Luxembourg and France. The firm has been active in private equity since 1997 and has invested over €100 million. It focuses on sectors such as information technology, software, biotechnology, manufacturing, engineering, logistics, distribution and telecommunications, and operates as part of the ING Group.

New Rhein Healthcare is a Philadelphia-based venture capital firm focused on healthcare therapeutics and medical devices. The firm operates with a global footprint, maintaining offices in Philadelphia and Mechelen, Belgium, and pursues investments in the United States and Europe. It backs companies that leverage proven products in new indications, dosage forms, or applications, and supports portfolio firms with development, regulatory, reimbursement, marketing, and contract manufacturing expertise. The team comprises former industry executives with operational and transactional experience who seek to build value through strategic partnerships and meaningful clinical and commercial progress. The firm emphasizes later-stage, de-risked assets with demonstrated safety and efficacy and aims for strategic exits that deliver health benefits and economic value for investors.

Beluga is a Belgian private equity and venture capital firm founded in 1998 and based in Belgium. It focuses on acquiring and actively managing a diversified portfolio, with investments across mid- to late-stage venture, growth capital and buyouts, typically taking minority positions. The firm primarily targets Belgian companies, with a regional emphasis on Flanders, and has historically pursued opportunities in healthcare, B2B, B2C, energy and financial services within the Belgium-Luxembourg-Netherlands area. Capital is raised through public markets, and typical deal sizes range from €0.25 million to €2.5 million, with enterprise values up to €250 million. Some public reports indicate the entity is undergoing liquidation.