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.

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.

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.

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 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.

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 (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.

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.

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.

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.

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 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.

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.

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.

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 is a Belgian investment company established since 2019, focusing on supporting the growth of small and medium-sized enterprises (SMEs) through management buy-in, buyout, venture capital, and growth capital investments. The firm primarily targets businesses operating in b2b, b2c, energy, financial services, materials & resources, and technology sectors across Europe.

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 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.

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 SA is a venture capital firm established in 2010 and headquartered in Lille, Belgium. The firm specializes in providing financial and strategic support to start-ups and growth-stage companies primarily in the internet and information technology sectors. It focuses on investments in areas such as web and mobile applications, software, deep tech, SaaS, data mining, and search algorithms. Internet Attitude typically invests between €0.3 million and €1 million, taking minority stakes in its portfolio companies while actively participating in their management. The firm primarily targets companies located in Belgium and France and does not engage in seed investments. Additionally, it considers co-investment opportunities, further enhancing its strategic involvement in the growth of its selected ventures.

Established in 1988 and headquartered in Tournai, Belgium, WapInvest is a venture capital firm that focuses on direct investments across various stages of growth. It specializes in venture debt, incubation, startup, early, middle, late venture, growth capital, and emerging growth sectors.

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 SA is a private equity and venture capital firm based in Brussels, Belgium, established in 2005. The firm specializes in a range of investment stages, including seed, startup, early venture, emerging growth, venture debt, growth capital, and leveraged and management buyouts. Sherpa Invest focuses on companies across all economic sectors within Belgium that demonstrate strong growth potential and possess a competitive advantage. The firm typically invests between €0.3 million and €0.75 million in its portfolio companies and aims to exit these investments within five to seven years.

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

Founded in 2005, Allegro is a venture capital firm based in Leuven, Belgium. It specializes in early-stage and spin-off investments, focusing on high-technology and disruptive technology sectors such as chips design, green energy, wireless technology, medical & diagnostic devices, and new materials.

ING Corporate Investments is the private equity arm of ING Group, headquartered in Brussels, Belgium. It invests in small and medium-sized enterprises in Belgium, Luxembourg and France, providing buy-out, development and venture capital. Active in private equity since 1997, it has supported companies across information technology, software, biotechnology, manufacturing, engineering, logistics, distribution, and telecommunications. The group has deployed over 100 million euros in investments.

Vectis is a Belgian-based investment firm, headquartered in Aalter, offering investment management, private equity, venture capital, management consulting, and business development services. Founded in 2004, the firm focuses on investing in Belgian companies, particularly in the business-to-business sector, and supports growth through capital and strategic guidance across stages and industries within Belgium.

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.

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.

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.

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.

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.

Novo Holdings is a Danish holding and investment firm managing the assets of the Novo Nordisk Foundation. Established in 1999, it invests globally in life science companies at all stages of development, with a portfolio also including equities, bonds, real estate, and infrastructure.

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.

Impact Shakers Ventures, established in 2024 in Brussels, Belgium, is an impact investment firm dedicated to addressing societal and environmental challenges through inclusive entrepreneurship and innovative capital strategies. The company fosters a comprehensive ecosystem that supports diverse entrepreneurs, investors, and partners throughout the lifecycle of impact businesses. Impact Shakers Ventures invests directly in startups and operates accelerator and incubator programs, focusing on climate tech, inclusion tech, and impact infrastructure sectors across Europe, including the UK.

Founded in 2021, Rise PropTech is a Belgium-based venture capital firm focusing on property technology startups. It invests in late-stage companies active across various sectors such as artificial intelligence, big data, construction technology, and sustainability.

SI² Fund is a Brussels-based European impact investment company founded in 2012 that provides equity investments and incubation services to socially focused enterprises. It targets early-stage (non-seed) and growth ventures, typically making minority investments with active board representation and a combined focus on financial returns and social impact. The firm concentrates on Europe, with emphasis on Benelux, Belgium, the Netherlands and Luxembourg, the United Kingdom, northern France and northern Germany, and often supports companies through both equity and debt funding ranging from €250,000 to €1,500,000. Its investments align with the United Nations Sustainable Development Goals across domains such as demography, community, poverty, environment, health and wellbeing, and ethical goods and services. SI² Fund also provides incubation services to help portfolio companies scale, with a preference for businesses whose value proposition integrates social impact into the core business model.

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