Gimv is a European investment company focused on private equity and venture capital. Founded in 1980 and headquartered in Antwerp, Belgium, it operates across Belgium, France, Germany, the Netherlands, and Switzerland. Gimv targets investments in a diversified range of sectors, including business-to-business services, financial services, healthcare, information technology, telecommunications, manufacturing, life sciences, and other technology-enabled sectors, with a focus on European opportunities. The firm emphasizes building long-term equity partnerships to support growth and value creation in portfolio companies.

Established in 2015, The CoFoundry is a venture capital firm based in Antwerp, Belgium. It focuses on financing seed-stage startups and scale-ups through its CoFoundry fund.

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.

Inventures Investment Partners is an impact investment firm based in Brussels, Belgium, established in 2011. It engages in impact venture capital investments in early-stage European SMEs that deliver social, environmental, and economic value and align with the United Nations Sustainable Development Goals. The firm focuses on opportunities across sectors such as health, education, environment, economic growth, and social progress, aiming to generate positive societal outcomes alongside financial returns.

Capricorn Partners is an independent pan-European venture capital manager and asset manager based in Belgium that invests through technology-driven growth companies. The firm focuses on European opportunities and builds its portfolio around technology as a competitive advantage, with an investment team that combines deep technical expertise and broad industrial experience. Founded in 1993 and headquartered in Leuven, Capricorn Partners targets sectors including information technology, software as a service, healthcare and life sciences, oncology, big data, digital health, manufacturing, clean technology, consumer sectors, and other technology-enabled businesses across Europe. The company seeks to support companies with scalable growth trajectories and technology-enabled business models.

Volta Ventures is a venture capital firm based in Ghent, Belgium, with an additional office in Amsterdam. Founded in 2014, it provides seed and early-stage capital to internet and software companies in the Benelux region, with a focus on enterprise software and SaaS. The firm supports founders with active guidance, market and customer development, senior talent recruitment, and ongoing financing rounds, leveraging a network that includes business angels to help portfolio companies grow.

Founded in 2015, V-Bio Ventures is a Belgium-based venture capital firm focused on investing in innovative life science companies across Europe. The firm concentrates on start-ups and early-stage companies with high growth potential, particularly those developing transformative technologies in biotech, pharmaceuticals, and sustainable agriculture.

Participatiemaatschappij Vlaanderen, established in 1995 and based in Brussels, Belgium, is a government organization focused on investing in startup and growth-stage companies. The organization targets diverse sectors including media, software, retail, infrastructure, energy, and real estate. Its investment portfolio is structured with a significant allocation towards financial fixed assets and receivables, reflecting its commitment to supporting emerging businesses. Participatiemaatschappij Vlaanderen plays a crucial role in fostering innovation and entrepreneurship in Belgium by providing essential financial backing to projects at various stages of development.

Société Régionale d'Investissement de Wallonie was the regional private equity and venture capital firm for Wallonia, Belgium. Founded in 1979 and based in Liège, it focused on providing equity and related financing to startups, growth-stage companies, and mature ventures with an emphasis on promoting economic development in the Wallonia region. The firm invested at least €1 million in portfolio companies and employed a mix of direct investments and fund-of-funds, including loans and convertible instruments, with or without warrants, secured against real assets. It sought to take both majority and minority stakes and aimed to hold board seats, often co-investing with other investors. The investment scope covered a broad range of sectors and supported initiatives within and outside Belgium that advance the regional economy. On October 29, 2022, it merged with SOWALFIN and SOGEPA to form Wallonie Entreprendr.

Fund+ is a venture capital firm based in Leuven, Belgium, established in 2015. It invests in life sciences companies across seed, early, and later stages, with a focus on diagnostics, therapeutics, medical devices, and related sectors in Belgium. The firm seeks to build leadership in the life sciences field while delivering sustainable shareholder value and contributing to positive societal impact.

White Fund is an early-stage investment firm based in Liège, Belgium, focusing on healthcare and medical technology companies. It targets Belgium-based startups in the medical devices and medtech sectors, including prevention, diagnostic, monitoring, and treatment solutions, with potential expansion to neighboring regions. The firm supports early-stage ventures with proof of concept and initial market traction, typically investing about €2-€3 million per project across two to three financing rounds, and targets exits in five to seven years.

Imec.xpand is an independently managed venture capital firm based in Leuven, Belgium, with an additional office in Amsterdam. It focuses on early-stage nanoelectronics-based innovation across deep tech, health, and agtech, and pursues global investments. The firm targets opportunities in communications and networking, computer hardware, healthcare devices and supplies, materials and resources, clean tech, Internet of Things, LOHAS and wellness, mobile, and infrastructure, with a regional footprint spanning the United States, Canada, Europe, the Americas, Asia, Africa, the Middle East, and Oceania.

Fortino Capital is a Belgium-based venture capital and growth equity firm that provides expansion capital and strategic support to technology companies across Europe, with a focus on Western Europe and the Benelux region. It backs B2B SaaS and software firms, as well as media and high-end product manufacturing, helping SMEs build brands, sharpen go-to-market strategies, and scale internationally. The firm seeks companies that can reinvent their business models through best-in-class management practices and state-of-the-art technologies.

The Faktory is a Belgian accelerator, incubator and early-stage venture capital firm based in Liege, founded in 2013. It supports startups in incubation, seed and early-stage financing, with a focus on Internet of Things and software as a service, targeting markets in Belgium, France, Luxembourg and the Netherlands. The firm typically invests between 0.2 million and 1 million euros per transaction, taking a minority stake around 30 percent, and backs companies developing consumer electronics, high-technology, gaming, apps, drones, SaaS and IoT products. Its approach combines Lean Startup and Business Model Canvas methods to identify market niches, validate customer needs and accelerate go-to-market. The Faktory has collaborated with Boldstart Ventures and supports portfolio companies through mentors and a network to foster international growth.

Newton Biocapital is a venture capital firm based in Brussels, Belgium, focused on funding biotech and life science projects in Europe and Japan. It acts as lead investor to support promising start-ups as well as undervalued late-stage projects, aiming to mitigate risk and create investor value. The leadership team comprises specialists with extensive management and investment experience who coach bio-entrepreneurs through development stages. Founded in 2017, the firm targets investments in Europe and Japan, including Belgium, the Netherlands, Germany and France, and integrates ESG considerations into its investment approach.

Spreds is a Belgian investment platform established in 2011, facilitating co-investment between individuals and professionals in European startups and SMEs. It pioneered crowdfunding techniques for venture capital investments, enabling individuals to invest alongside professionals under the same terms, starting from €100. As of September 2012, Spreds has raised over €150 million and boasts a membership base exceeding 45,000 individuals.

Newion is a venture capital firm focused on early-stage investments in B2B software companies across Benelux, Nordics, and Germany. Founded in 2000, the company aims to support entrepreneurs in building category-leading software businesses that generate sustainable impact and excellent returns for investors.

Akiles Investment Company is a growth equity firm based in Rhode-Saint-Genèse, Belgium. It specializes in management buy-in and buyout transactions, venture capital, and growth capital, and seeks to invest in sectors such as business-to-business and consumer services, energy, financial services, materials and resources, and technology, with a focus on supporting the growth of Belgian SMEs.

Asabys Partners is a venture capital firm based in Barcelona, Spain, established in 2018, that focuses on the life sciences and healthcare sectors. The firm backs companies across healthtech, biopharma, and related areas, investing in innovations with potential to transform medicine and patient care both in Spain and internationally. It emphasizes sourcing and financing disruptive technologies and collaborates with industry talents to push the boundaries of science and medicine.

Established in 2016, KBC Focus Fund is a venture capital firm headquartered in Brussels, Belgium. It invests in growth-stage companies across Europe, with a focus on advanced technology sectors such as nanotechnology, microelectronics, and IoT.

AngelWise is a venture capital firm based in Hasselt, Belgium, founded in 2022. It concentrates on pre-seed and seed-stage investments in information and communication technology startups, aiming to help young companies navigate early growth through funding and advisory support.

Qbic Fund is a Ghent-based venture capital firm that backs spin-off companies arising from the Ghent, Brussels and Antwerp university networks and affiliated research institutes, including VITO. It maintains strategic partnerships with these universities and VITO to gain early access to promising research and to support portfolio ventures from assessment to hands-on development. The firm focuses on life sciences, new materials, and information technology, with emphasis on software, deeptech, biotech and medtech opportunities. Through its university and research collaborations, Qbic Fund provides technical guidance and industry connections to help startups accelerate commercialization and growth.

Holland Capital, established in 1981 and based in Amsterdam, is a private equity and venture capital firm that specializes in direct investments and fund of fund investments. The firm focuses on early and later-stage investments in small and medium-sized enterprises, primarily within sectors such as healthcare, technology, consumer discretionary, and industrials. Holland Capital typically invests between €0.25 million and €10 million in companies with an enterprise value ranging from €5 million to €50 million. It aims to secure a minimum 20 percent equity stake in its portfolio companies and seeks exits through trade sales or initial public offerings. With a history of over 115 successful investments, Holland Capital operates two active funds: one targeting growing Dutch SMEs and another focused on innovative healthcare enterprises. The firm primarily invests in companies based in the Netherlands, Belgium, and Luxembourg.

Capital-E is an Antwerp-based venture capital firm that provides early-stage capital to startups developing electronics-enabled products and advanced materials, as well as technologies in industrial, consumer and related sectors across Western Europe. The firm maintains a close relationship with IMEC, Europe's leading independent research center in micro- and nano-electronics, enabling access to more than 2,000 scientists and engineers and to a global network of over 500 partners to support portfolio companies with technology validation, development and market adoption.

Founded in Belgium, Droia Ventures is a specialized biotech investor focused exclusively on therapeutics for oncology and genetic diseases. They invest globally in early-stage companies applying novel science and innovative technologies to develop first-in-class drug candidates.

Inventures II is a venture capital fund based in Brussels, Belgium, managed by Inventures Investment Partners. Established in 2011, the fund focuses on early-stage investments in small and medium-sized enterprises across Europe, particularly in the pharmaceuticals and biotechnology sectors. It aims to support businesses that align with at least one of the United Nations Sustainable Development Goals, promoting sustainable development and societal progress. Additionally, Inventures II encourages citizen involvement in investment through its crowdfunding platform, MyMicroInvest, thereby enhancing community engagement and fostering entrepreneurship.

Novalis Biotechnology Incubation is a venture capital firm based in Ghent, Belgium, founded in 2018. The company is dedicated to seeding and supporting early-stage start-ups in the biotechnology and life sciences sectors. By providing essential funding and leveraging its extensive professional and academic networks, Novalis aids these start-ups in developing their business strategies and navigating the complexities of the industry. The firm's focus is on creating value for all stakeholders involved in the growth and success of the companies it incubates, fostering innovation and advancement within the healthcare landscape.

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.

WapInvest is a venture capital firm based in Tournai, Belgium, founded in 1988. It is sector-agnostic and engages in direct and secondary direct investments, including venture debt, incubation, and investments across startup stages from early to late, as well as growth capital and emerging growth. The firm also offers long-term investment loans and working capital loans or fixed-term advances. It focuses on finance companies in Walloon Picardy.

Lean FUND, established in 2014, is a Belgian venture capital firm specializing in seed and early-stage investments. It focuses on the internet industry, typically investing between €0.025 million and €0.1 million in startups with an enterprise value below €0.5 million. Based in Mont Saint Guibert, the firm excludes pharmaceuticals, biotech, healthcare, spinoffs, and hardware development from its investment scope. In addition to capital, Lean FUND offers coaching and support through its integrated Lean REACTOR program.

CAREvolution is a venture capital firm founded in 2016 and based in Bruxelles, Belgium. The firm focuses on investing in the healthcare sector, specifically targeting seed and early-stage opportunities. By concentrating on innovative healthcare solutions, CAREvolution aims to support the growth of companies that can advance medical technologies and improve patient care.

Sherpa Invest is a Brussels-based private equity and venture capital firm that concentrates on Belgian-based companies with strong growth potential across all sectors. Founded in 2005, the firm backs seed, startup, early venture and growth-stage opportunities and typically invests between €0.3 million and €0.75 million, aiming to exit within five to seven years.

Founded in 2017, Smile Invest is a Belgium-based investment firm focusing on advanced technologies, healthcare & well-being sectors.

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.

ING Corporate Investments is the private equity arm of ING Group, based in Brussels, Belgium. It provides capital to small and medium-sized enterprises in Belgium, Luxembourg and France, offering buy-out, development and venture capital. The firm targets companies across information technology, software, biotechnology, manufacturing, engineering, logistics, distribution and telecommunications sectors, with the aim of supporting growth through strategic and financial partnerships. It has been active in private equity since 1997 and has invested over €100 million.

Vectis is a Belgium-based private equity firm, founded in 2004 and based in Aalter, that offers investment management, private equity, venture capital, management consulting, and business development services. It focuses on investing in Belgian B2B companies.

AMAVI Capital is an independent European investor focused on supporting growth within the PropTech industry across Benelux, Nordics, Germany, Switzerland, and France. Established in 2020, AMAVI aims to bridge traditional real estate with innovative PropTech companies by leveraging its expertise from real estate, technology, and private equity sectors.

Beluga NV is a private equity and venture capital firm founded in 1998 and based in Ternat, Belgium. The firm specializes in acquiring and managing a diversified portfolio, focusing on mid and late venture, as well as growth capital investments in companies across various sectors, particularly in Belgium and the Flanders region. Beluga typically invests between €0.25 million and €2.5 million for minority stakes in both public and private companies, targeting enterprises with values ranging from €1 million to €250 million. The firm has a preference for sectors such as healthcare, B2B, B2C, energy, and financial services, and it seeks to support companies with sales values between €0.25 million and €500 million and EBITDA values from €1 million to €100 million.

We Are Jane is a Belgium-based private equity and venture capital firm founded in 2019 and based in Roeselare that focuses on investing in companies founded or led by women. It targets opportunities in the business and consumer products and services, financial services, healthcare, and information technology sectors. The firm primarily invests in Belgian and regional companies, providing equity financing typically between 1.5 million and 7 million euros, in firms with at least 1.5 million euros in revenue.

Finindus is an investment company that provides early-stage and growth financing to innovative companies focused on materials science, processing technologies, and sustainable manufacturing across the metal value chain. Typically investing €0.5 to €5 million per round, with a maximum of €10 million per company, Finindus actively contributes to portfolio companies' value creation through its network, expertise, and access to OCAS's research facilities.

S.R.I.W. Environnement S.A. is a private equity and venture capital firm specializing in middle market, later stage, mature, emerging growth, early venture, mid venture, late venture, industry consolidation, buyout, growth capital, venture debt, and mezzanine investments. The firm seeks to make investments in Wallonia through shareholdings in companies with a focus on companies that are involved in the development of industrial processes in the environment sector. The firm makes equity investments between €1 million ($1.62 million) and €50 million ($58.27 million) in companies having enterprise value minimum of €5 million ($5.82 million). The firm seeks to acquire a minority stake along with being present on the Board of Directors. The firm makes balance sheets investments. S.R.I.W. Environnement S.A. was founded in 1984 and is based in Liège, Belgium. It operates as a subsidiary of S.R.I.W. S.A.

Established in 2020, the European Innovation Council supports innovative startups and researchers with promising ideas, focusing on early-stage companies with positive environmental, social, or governance impacts. It co-invests alongside private investors.

A Plus Finance, established in 1998 and headquartered in Paris, France, is an independent trust company that specializes in managing Common Investment Funds for Innovation and Proximity Investment Funds. The firm focuses on various innovative sectors, notably information technology, media, security, and the environment. With a team composed of financiers and entrepreneurs, A Plus Finance offers a unique blend of practical management insights and long-term strategic guidance to businesses. The firm manages funds totaling approximately €220 million and typically invests between €1 million and €4 million in individual projects. Additionally, A Plus Finance engages in real estate and private equity investments, further diversifying its portfolio.

Industrya is a venture capital firm based in Seraing, Belgium, founded in 2020. It concentrates investments in Industry 4.0, energy transition, and new materials sectors.

Riflebird Capital is a venture capital and private equity firm based in Leuven, Belgium, specializing in special situations investments within the industrial B2B sector. Established in 2016, the firm primarily targets companies located in Central and Northern Europe, particularly in the Benelux region and Germany. Riflebird Capital typically invests in businesses with an enterprise value ranging from €10 million to €100 million and a turnover between €20 million and €200 million. The firm seeks to acquire full ownership or control of its portfolio companies, allowing for a focused investment approach that aligns with its strategic goals.

VIVES Funds is a seed capital fund initiated by UCLouvain that invests in companies developing disruptive innovations with a positive societal impact.

Cascara Ventures is a Brussels-based venture capital firm founded in 2016 and led by Adriaan Hart de Ruijter. It invests in seed-stage life sciences and healthcare technology companies applying advances in prevention, therapy and research. The portfolio includes vaccines, medical devices, pharmaceuticals, imaging, software, medical data, robotics, healthcare services, diagnostics and cell therapy.

Founded in 2016, TCD Capital is a venture capital firm based in Brussels, Belgium. It focuses on investing in technology, digital, industrial, smart living, life science, and medical tech sectors across Belgium and France.

Established in 2023 and headquartered in Brussels, WeloveFounders is a European venture capital firm focused on early-stage SaaS B2B investments. It aims to support the next wave of European entrepreneurs.

Syndicate One is an angel investment group headquartered in Brussels, Belgium, founded in 2022. It supports Belgian startups by providing early-stage financing, strategic guidance, and mentorship, with a focus on technology sectors. The organization helps startups scale by leveraging its capital and advisory network.