A global banking and financial services group, BNP Paribas offers a wide range of products and services to retail customers, associations, businesses, corporations, institutional investors, and financial institutions. It operates through two main divisions: Retail Banking & Services and Corporate & Institutional Banking.

PMV Re Vinci nv, based in Brussels, Belgium, is primarily focused on real estate development. The company plays a significant role in fostering the Flemish economy by providing funding to promising businesses from their inception through various growth stages and into international operations. Collaborating with government entities and other partners, PMV implements projects that are vital for prosperity and well-being in Flanders. The organization is dedicated to supporting entrepreneurship as a key driver of economic development and believes that sustainable business ventures must ultimately achieve profitability. Through its investments, PMV aims to ensure that every supported project contributes positively to the economic landscape of Flanders.

A diversified group active in Marine Engineering & Infrastructure (DEME, Algemene Aannemingen Van Laere), Private Banking, Real Estate, Leisure & Senior Care, Energy & Resources, and Development Capital. It aims to create shareholder value through long-term investments in companies with international growth potential.

Inventures Investment Partners is an impact investment firm founded in 2011 and based in Brussels, Belgium. It focuses on social and environmental outcomes by backing early-stage European SMEs that address health, education, environment, economic growth and social progress, and align with the United Nations Sustainable Development Goals.

Founded in 2014, Volta Ventures is a venture capital firm based in Ghent and Amsterdam. It focuses on seed and early-stage investments in internet and software companies across the Benelux region. The firm actively supports founders by providing market insights, hiring assistance, strategic guidance, and follow-on financing.

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.

Founded in 2009, Nausicaa Ventures is a Belgium-based venture capital firm specializing in early-stage and growth investments. It focuses on companies completing Series C or D financing rounds across various sectors such as healthcare technologies, ICT, manufacturing, clean tech, biotech, and industrial processes within a radius of 300 km from Brussels. The firm typically invests between €1 million to €4 million per company, with an average holding period of five years.

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.

The EIC Accelerator is a Horizon Europe funding program that provides assistance to start-ups and SMEs that have an innovative, game-changing product, service, or business model that has the potential to create new markets or disrupt existing ones, and have the ambition and commitment to scale up, are seeking substantial funding, but the risks involved are too high for private investors to invest alone

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.

Down 2 Earth Capital is a Belgium-based private equity firm founded in 2013 and headquartered in Antwerp. It specializes in buyouts and growth financing for small and mid-size companies, with a focus on family succession, management buy-outs and buy-ins, owner buyouts, carve-outs, recapitalizations, and moderate debt financing. The firm typically targets Belgian-based companies with EBITDA between €1 million and €10 million and revenues between €10 million and €50 million, and it pursues both majority and minority stakes. It aims for an investment horizon of five to eight years and is active in sectors including business products and services, industrials, and manufacturing; it also considers distressed opportunities. The team combines private equity experience with SME insight and relies on a network of entrepreneurs and CEOs to support growth.

Established in 1995, VIB is a Belgian non-profit research institute dedicated to life sciences. It collaborates with five Flemish universities and focuses on research for pharmaceutical, agricultural, and industrial applications.

Noshaq is a venture capital firm based in Liège, Belgium, founded in 1985. It provides seed, startup and growth capital to small and medium-sized companies, with a focus on the Liège region. The portfolio covers sectors such as energy, sustainable development, biotech, digital, Industry 4.0, real estate, quality food, cultural and creative industries, life sciences, agriculture and food, and reconversion. Noshaq typically takes a minority stake and may secure a seat on the board. In addition to equity investments, the firm offers convertible bonds, financing solutions, loans and support for strategic projects.

SFPI-FPIM is the Federal Holding and Investment Company that centrally manages the Belgian government's shareholdings, collaborates on government projects, and implements its investment strategy to benefit the Belgian economy. With a focus on maximizing returns and promoting economic growth, SFPI-FPIM plays a crucial role in managing and optimizing the government's investments for the long-term prosperity of Belgium.

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.

Société Régionale d'Investissement de Wallonie (SRIW) is a Belgian investment company established in 1979, headquartered in Liège. It specializes in private equity and venture capital, focusing on startups, growth, and turnaround investments. SRIW invests in a broad range of sectors, with a particular emphasis on real estate, metal engineering, and environmental technologies, among others. It primarily targets companies based in Wallonia, investing at least €1 million per portfolio company. SRIW takes majority or minority stakes and seeks board seats, often co-investing with other venture capitalists. It provides equity capital and various loan structures, including subordinated and secured loans. SRIW does not invest in steelmaking or the catering industry.

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.

Pamica NV is an investment company based in Antwerp, Belgium, founded in 2015 by Michel Akkermans, a serial entrepreneur and private investor. The company focuses on identifying and supporting startups at various stages, including seed, early, and later stages. With a commitment to fostering innovation, Pamica seeks to provide financial backing and strategic guidance to emerging businesses. Michel Akkermans also serves on the boards of both public and private companies, bringing extensive experience in entrepreneurship and investment to the firm.

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 1985, Sambrinvest is a Belgian venture capital firm based in Gosselies. It specializes in direct investments, focusing on small and medium-sized companies across various sectors such as Agri-Food, biotechnology, digital, manufacturing, and services. The firm primarily invests in the Charleroi Sud-Hainaut and Thuin districts of Belgium, with typical investment amounts not exceeding €1.25 million.

Capricorn Partners is an independent venture capital firm based in Leuven, Belgium. Founded in 1993, it manages venture capital funds and makes technology-driven investments in innovative European growth companies, emphasizing technology as a competitive advantage across sectors such as consumer, healthcare, information technology, software as a service, manufacturing, life sciences, oncology, big data, clean technology and digital health.

Founded in 2022, Junction Growth Investors is based in Berchem, Belgium. It is a growth equity firm that invests in small and medium-sized enterprises (SMEs) and scale-ups across Europe, focusing on energy transition and climate technology sectors.

Gilde Equity Management Benelux is a private equity firm focusing on management buyouts, expansion capital and growth capital investments in large and mid-market companies. It considers investments across all industries, with particular experience in food, services and manufacturing. The firm primarily targets companies based in the Benelux region (Belgium, the Netherlands and Luxembourg) and also evaluates opportunities in the United States. Typical transactions range from 20 million to 200 million in equity, with enterprise values between 15 million and 150 million, and the firm also provides debt financing. It seeks a supervisory board role in portfolio companies. Founded in 1996, it is headquartered in Utrecht and maintains offices in Antwerp and Lohmar.

Buysse & Partners is a private equity investment group based in Antwerp, Belgium. Founded in 2008, it invests in small and medium-sized enterprises and real estate across Europe and Latin America, focusing on business-to-business companies in commercial products and services and related real estate assets.

Meusinvest S.A. is a venture capital firm based in Liège, Belgium, that focuses on seed, start-up, and growth capital investments in small and medium-sized companies. The firm primarily targets companies within the energy, sustainable development, biotech, digital, industry 4.0, real estate, quality food, and cultural sectors, specifically in the Liège province. It invests in businesses with an annual turnover of up to €50 million or an enterprise value of up to €43 million, typically taking a minority stake. Meusinvest can request a seat on the Board of Directors of its portfolio companies and prefers management buyouts as its exit strategy. In addition to equity investments, the firm offers convertible bonds, financing solutions, loans, and support for strategic projects. Founded in 1985, Meusinvest continues to play a significant role in supporting regional economic growth.

Pitchdrive is a venture capital investment firm based in Antwerp, Belgium, founded in 2018. It concentrates on early-stage funding for European B2B software-as-a-service, marketplaces, e-commerce, and software-driven hardware companies. Leveraging a data-driven engine, Pitchdrive aims to qualify seed-stage ventures quickly, enabling capital to reach founders in weeks rather than months. The firm seeks to scale seed investments for founders and investors while maintaining a hands-on approach post-funding. It supports portfolio companies with network introductions and value-added partnerships, delivering substantial additional value. Pitchdrive operates with a founder-first philosophy, emphasizing practical support and rapid, efficient financing to help startups accelerate growth.

Ninepointfive is a venture capital investment firm based in Antwerp, Belgium, founded in 2019. It co-invests with corporate partners to support tech startups from pre-seed to maturity, combining venture capital with corporate acceleration to drive growth. The firm works with brands such as Beiersdorf, Telenet, and Agfa to provide strategic value, resources, and market access for portfolio companies. Ninepointfive focuses on sectors including energy, information technology, B2B software as a service, and materials and resources, seeking startups with scalable technology and practical applications. By leveraging corporate networks and investment expertise, it helps founders move from early validation to scale in a pragmatic, value-driven approach.

Asabys Partners is a Barcelona-based venture capital firm established in 2018 that focuses on investments in the life sciences and healthcare sectors. The firm targets innovative and transformative technologies within the health-tech and biopharma industries, both in Spain and internationally. Asabys Partners aims to advance the boundaries of science and medicine by financing disruptive technologies and collaborating with leading experts in the field.

Established in Belgium, this company is responsible for managing the federal government's shareholdings. It focuses on investments in strategic sectors such as aeronautics, real estate, networks, international markets, and innovations. The company aims to contribute to the Belgian economy by pursuing its own investment policy.

The Innovation Fund is a venture capital firm based in Schaerbeek, Belgium, established in 2015. It targets investments across health and science sectors, including healthcare devices and services, life sciences, material science and biosciences, process technology, hygiene and cosmetology, recycling technology, and B2B and commercial services.

Founded in 1911, Keesing Media Group is a European publisher specializing in puzzle magazines and apps. It offers a variety of puzzles such as sudoku, word searches, and logic games in multiple languages across the Netherlands, Belgium, Denmark, Germany, France, Spain, and Sweden.

Founded in Rotterdam, Netherlands in 2007, CNBB Equity Partners is a private equity firm focusing on middle market investments. It specializes in mature companies and industry consolidation, with a primary focus on enterprise and consumer software-focused businesses across Europe.

Founded in 2020, Heran Partners is a Belgian venture capital firm focused on investing in healthcare technology, medical technology, deep tech, and digital health sectors. The firm provides venture and growth capital alongside expertise, mentorship, and network support to European HealthTech startups and scale-ups with strong technology platforms and market potential.

The Faktory is an accelerator, incubator and early-stage venture capital firm that supports IoT and connected-device startups with a business-to-business focus. Based in Angleur, Belgium, it operates across Belgium, France, Luxembourg and the Netherlands, making minority investments of roughly €0.2 million to €1 million per transaction (around 30% ownership) and providing mentoring and hands-on support to help startups validate markets, develop products and scale internationally.

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.

White Fund is a venture capital firm based in Liège, Belgium, established in 2019, that specializes in early-stage investments in the medical device and medtech sectors. The firm focuses on companies that have demonstrated a proof of concept for their technology and have shown objective market traction. White Fund primarily targets investments within Belgium but may consider opportunities in neighboring regions. It typically invests between €2 million and €3 million in each project, spanning two to three rounds of financing, with an exit strategy aimed at five to seven years. The firm is dedicated to supporting the pre-marketing stages and the launch of sales for innovative healthcare solutions, including prevention, diagnostic, monitoring, and treatment technologies.

AngelWise is a venture capital firm founded in 2022 and headquartered in Hasselt, Belgium. The firm specializes in pre‑seed and seed‑stage investments, primarily in the information and communication technology sector. It provides comprehensive support to early‑stage startups, helping them advance to subsequent growth phases.

Established in 2017, Imec.xpand is a Belgium-based venture capital firm focused on investing in early-stage innovations within the domains of deep tech, health, and agtech. The company aims to foster nanoelectronics-based innovation globally.

Belfius Bank is a banking institution based in Brussels, Belgium, established in 1996 to serve the financial needs of local authorities and the broader community. The bank focuses on collecting savings deposits and investments through its distribution networks across Belgium. It reinvests these funds into society by providing loans to individuals, self-employed individuals, small and medium-sized enterprises, as well as corporate, public, and social institutions. With a diverse range of services, Belfius Bank also engages in sectors such as insurance and life sciences. The governance and management of the bank's assets are overseen by its Board of Directors, ensuring responsible stewardship and alignment with community interests.

Founded in 2014, LeanSquare is a venture capital firm based in Liège, Belgium. It specializes in seed, start-up, and growth capital investments, typically ranging from $0.1 million to $0.5 million.

Newton Biocapital is a Belgium-based venture capital fund focused on financing biotech and life science projects in Europe (Belgium, Netherlands, Germany, France) and Japan. As lead investor, they support promising start-ups and neglected late-stage projects to mitigate risks and create value. The team consists of specialists with extensive management and investment experience who coach bio-entrepreneurs through project development stages.

Alychlo is a family investment company based in Merelbeke, Belgium, established in 2015. Committed to enhancing the value of businesses, Alychlo focuses on investing in growth-stage companies and real estate. The company is driven by a philosophy of improving enterprises while also contributing positively to society. Through strategic investments, Alychlo aims to foster development and innovation in its portfolio, reflecting its dedication to both financial success and social responsibility.

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.

Vendis Capital is an independent private equity firm that concentrates on building and investing in small- to mid-sized branded consumer companies in Europe. It deploys flexible capital for growth and buyout transactions, including development capital, expansion and acquisition financing, and minority or majority stakes. The firm focuses on branded consumer products and consumer-facing retail, offline and online, across goods and services, food and non-food sectors, and may back retailers or firms building consumer brands. It prefers investments in Europe, with a concentration on head offices in Benelux, France, Netherlands, Luxembourg, and Belgium. Typical deal size ranges from €10 million to €60 million per transaction, targeting revenue from roughly €10 million to €300 million and EBITDA from €3 million to €30 million. Vendis provides strategic support, helps with management additions, evaluations and execution of acquisitions, and implements monitoring and reporting tools, often taking an active board role. Founded in 2009, it is headquartered in Diegem, Belgium, with offices in Stockholm, Paris and Hilversum.

Convent Capital is a private equity firm based in Amsterdam, Netherlands, established in 2011. The firm specializes in buy-outs, buy-ins, and growth capital investments in small and medium-sized enterprises, primarily focusing on companies headquartered in the Netherlands and those based in Belgium and Luxembourg. Convent Capital targets investments in businesses with an enterprise value ranging from €10 million to €50 million and an EBITDA between €2 million and €8 million. The firm emphasizes sustainability and seeks to create value through strategic and operational improvements. Convent Capital generally aims to acquire majority stakes in its portfolio companies, with a particular interest in the agriculture and food sectors.

KBC is a Belgian financial services group offering banking, insurance, asset management, and related services to retail clients, small businesses, and mid-cap companies. Established in 1935, KBC operates primarily in Belgium and Central & Eastern Europe.

Ark Angels Activator Fund is a venture capital fund based in Hasselt, Belgium. It targets investments in small and medium enterprises located in the Flanders region, focusing on early and growth-stage companies across software, health tech, surgical devices, manufacturing, and financial services. The fund often co-invests with business angels and other capital providers, and has worked with BAN Vlaanderen VZW and ING Belgium in its management. Established in 2012, it seeks opportunities from Belgian companies with an operating base in Flanders and, in some cases, growth or transfer-phase opportunities. It has a capital base of about 14.8 million euros and operates as a private venture vehicle supporting regional entrepreneurs.

Gilde Buy Out Partners, established in 1982, is a Netherlands-based private equity firm with offices in Utrecht, Paris, Zurich, and Brussels. It focuses on spin-offs, buyouts, and public-to-private transactions, investing in industrial, food and beverage, and business-to-business service companies. The firm targets equity investments ranging from €75 million to €600 million, and enterprise values between €100 million and €500 million, aiming to acquire majority stakes in its portfolio companies. Gilde is a subsidiary of Gilde Investment Management.

Founded in Leuven, Belgium in 2007, Agri Investment Fund is a private equity firm focused on growth and buyout investments within the agriculture, farming, and food sectors.

Ergon Capital Partners, established in 2005, is a private equity firm based in Brussels, Belgium, with additional offices in Milan, Madrid, and Paris. It is a subsidiary of Groupe Bruxelles Lambert SA and specializes in buyout and consolidation investments in middle market and mature companies across continental Europe, with a focus on Benelux, France, Germany, Italy, and Spain. Ergon typically invests between €10 million and €70 million for a majority stake in companies with an EBITDA of €10 million to €60 million and a turnover of €20 million to €100 million.