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Top 15 B2B VC Funds & Investors in Belgium (October 2026)

The most active venture capital funds investing in Belgium B2B startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Belgium B2B startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Limburgse Reconversie Maatschappij
VC Fund
5 Belgium, The Netherlands, United States Seed, Venture - Series Unknown Information Technology, Software, Biotechnology $658k–$11M
SmartFin
VC Fund
4 Belgium, The Netherlands, Turkey Series A, Series B, Seed Software, SaaS, Information Technology $549k–$35M
Axeleo Capital
VC Fund
3 France, United Kingdom, Germany Seed, Series A, Pre-Seed Software, Information Technology, SaaS $857k–$21M
LeanSquare
VC Fund
2 Belgium, France, United States Seed, Venture - Series Unknown, Series A Software, Music, Information Technology $257k–$19M
Entourage
VC Fund
1 Belgium, Spain, United States Seed, Pre-Seed SaaS, Software, Information Technology $751k–$3.3M
Finance.Brussels
VC Fund
1 Belgium, France Seed, Series A, Venture - Series Unknown Software, Information Technology, SaaS $1.5M–$16M
E-Merge
VC Fund
1 United States, Belgium, Spain Seed, Series A Software, SaaS, E-Commerce $213k–$25M
Elephant
VC Fund
1 United States, Canada, France Series A, Series B, Series C Software, E-Commerce, Information Technology $7.5M–$300M
Newion
VC Fund
1 The Netherlands, Belgium, Germany Series A, Seed, Series B Software, SaaS, Information Technology $1.1M–$66M
Sushi Venture Partners
VC Fund
1 United Kingdom, Israel, Germany Seed, Venture - Series Unknown, Series A Music, Software, Artificial Intelligence $120k–$3.3M
Peak
VC Fund
1 The Netherlands, Germany, Sweden Seed, Pre-Seed, Series A Software, Information Technology, Artificial Intelligence $570k–$17M
StartupLanes
VC Fund
1 India Seed, Pre-Seed Retail, B2B, Apps $70k–$3M
Hi Inov - Dentressangle
VC Fund
1 France, Germany, Belgium Series A, Series B, Seed SaaS, Software, Information Technology $2M–$12M
Industrya
VC Fund
1 France, Belgium Seed, Series A, Venture - Series Unknown Industrial, Manufacturing, Logistics $946k–$6.7M
ING Group
VC Fund
1 United Kingdom, United States, The Netherlands Debt Financing, Post-IPO Debt, Series B Energy, Renewable Energy, Solar $15M–$3B
Access all 26 VC funds in Belgium B2B startups.

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Investor list

Limburgse Reconversie Maatschappij
VC Fund · Hasselt, Limburg, Belgium · 5 investments in Belgium B2B startups

Oxygen for growth - LRM

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Investment focus

  • Industry: Information Technology, Software, Biotechnology
  • Stage:Seed, Venture - Series Unknown
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 98
  • Round size: Seed $658k–$5.2M; Venture - Series Unknown $1.4M–$11M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • Monsana — Monsana's AI-powered platform empowers both patients and healthcare professionals in their search for the perfect clinical trial. Each eligibility criterion is validated based on your unstructured textual medical records, allowing highly accurate matching with experimental treatments.
  • ADLC — ADLC employs drone technology to deliver logistics services, allowing businesses to implement drone-based solutions without having to manage them in-house. The company is focused on enhancing last-mile delivery in maritime and offshore environments. ADLC now conducts drone delivery services in the Port of Antwerp in collaboration with SGS, atesting and certification company, and works with companies such as BASF. Its drones have reduced delivery times and environmental effect, boosting efficiency sixfold and lowering CO2 emissions by up to 80% for petrochemical sample deliveries.
  • Optiflux — Optiflux automatiseert het bewaarbeheer van vers fruit met slimme AI & vision-technologie. Minder verlies, meer winst voor teler & handelaar.
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SmartFin
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 4 investments in Belgium B2B startups

Venture capital fund focussing on European B2B technology companies.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: Belgium, The Netherlands, Turkey

Investor stats

  • Total investments: 65
  • Round size: Seed $549k–$6.7M; Series A $5M–$13M; Series B $3M–$35M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely actively investing — fresh fund, raised $257M in 2025

Portfolio highlights

  • Auditstage — The first AI-powered workspace for financial auditors. Automate manual workflows, draft working papers, and scale your firm with human-in-the-loop AI agents.
  • Marble — Marble is the first open source transaction monitoring. We automate detection and investigations with unparalleled flexibility and simplicity to allow tech teams to build on top of Marble, while removing manual compliance checks. Built for real-time and scalability, Marble protects against fraud and money laundering leading financial institutions in the EU, UK and over 15 geographies.
  • Hadrian — Hadrian’s digital security model focuses on automated event-based scanning. The company's approach maps vulnerabilities in an organization's entire attack surface infrastructure, and provides the critical insights to fortify them. Hadrian is developed by a team of hackers, their approach to digital security allows for continuoussecurity validation, running tests on 1000s of digital assets.Hadrian was established in 2021 by Maurice Clin and Rogier Fischer in Amsterdamnm Noord-Holland.
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Axeleo Capital
VC Fund · Paris, Ile-de-France, France · 3 investments in Belgium B2B startups

AXC is a European Venture Capital Fund, supported by a large community of tech entrepreneurs. We back startups from pre-seed / seed.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: France, United Kingdom, Germany

Investor stats

  • Total investments: 117
  • Round size: Seed $1.3M–$10M; Pre-Seed $857k–$3.2M; Series A $4.3M–$21M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely actively investing — fresh fund, raised $134M in 2024

Portfolio highlights

  • Wavo — Wavo provides debt-free inventory financing for SMEs, allowing them to grow without cash constraints.Unlike traditional financing, Wavo purchases inventory upfront, so businesses don’t have to immobilize cash or take on debt. Repayments are directly tied to sales, ensuring flexibility and preserving financial capacity. The solution is accessibleto fast-growing businesses, as it does not require balance sheet analysis or financial ratios.With Wavo, SMEs can seize new opportunities, optimize working capital, and scale faster—without financial constraints.
  • Actionable — AI-powered decision engine that predicts customer behaviour and explains what drives your KPIs. Turn raw data into actionable decisions in minutes.
  • DataHawk Technologies — DataHawk software platform provides eCommerce analytics tools for sellers and vendors to increase sales, optimize margins, gain insights, and boost productivity.
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LeanSquare
VC Fund · Liège, Liege, Belgium · 2 investments in Belgium B2B startups

New Economy Startups Investor & Accelerator

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Investment focus

  • Industry: Software, Music, Information Technology
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 48
  • Round size: Seed $376k–$2.4M; Series A $257k–$12M; Venture - Series Unknown $830k–$19M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • Gamevestor — Be more than a player. Invest in expert-selected video game projects and earn a share of their commercial revenues.
  • Tickets for Good — Tickets for Good is a ticketing platform for live events and entertainment.
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Entourage
VC Fund · Ghent, Oost-Vlaanderen, Belgium · 1 investments in Belgium B2B startups

Entourage is a venture Studio and early stage VC that invests in early-stage B2B and SaaS sectors.

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Investment focus

  • Industry: SaaS, Software, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Belgium, Spain, United States

Investor stats

  • Total investments: 9
  • Round size: Seed $751k–$3.3M; Pre-Seed $1.7M–$3.3M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Dealcar — DEALCAR is a company that digitalizes the used car market through a SaaS platform, enabling fully digital transactions. This platform creates a network effect benefiting dealers, partners, and customers. • Dealers: Increase revenue by selling extra products and boost sales by reducing turnover time. • Partners: Distribute products at the pointof sale without marketing expenses, lowering operational costs. • Consumers: Purchase a used car easily in just three steps, enjoying a smooth, trusted process similar to renting but with the benefits of owning a car.
  • Karomia — Karomia is an efficient and engaging B2B SaaS solution supporting sustainability officers in conducting a Double Materiality Assessment (DMA) of their organization, as part of their ESG report.
  • Warren — Enabling wealth, Boosting welfare
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Finance.Brussels
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium B2B startups

Regional Investment Company of Brussels

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, France

Investor stats

  • Total investments: 26
  • Round size: Seed $1.5M–$5.4M; Series A $2.3M–$7M; Venture - Series Unknown $4.2M–$16M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • AI-Blox — A modular & flexible hardware and software platform for edge AI applications.
  • Otamiser — Otamiser Booster® is an automated solution that helps hoteliers and revenue managers secure bookings by improving a property's online presence on major OTAs such as Booking.com, Expedia, Trips.com, Kayak, Airbnb, and VRBO. It maximizes occupancy rates and revenue through optimizing 951 essential parameters, ensuring continuous optimization,full automation, seamless integration with CMS, PMS, and RMS systems, dedicated customer support, integrations with Cubilis and Hostaway, and a customized API for Revenue Management software.
  • AILOS Robotics — AILOS Robotics offers advanced solutions in robotics and automation for various industries.
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E-Merge
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium B2B startups

Find out if E-Merge is the right fit for your future career! Explore jobs, salary, equity, and funding information. Read about work-life balance, perks, benefits, and the company culture!

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Investment focus

  • Industry: Software, SaaS, E-Commerce
  • Stage:Seed, Series A
  • Geography: United States, Belgium, Spain

Investor stats

  • Total investments: 70
  • Round size: Seed $213k–$3.5M; Series A $700k–$25M
  • Lead/follow: 7% lead, 93% follow
  • Last fund: May invest from a new fund soon — raised $267k in 2019

Portfolio highlights

  • Invopop — Issue compliant invoices, globally
  • Work Today — Create one profile. Apply to thousands of jobs in minutes.
  • Anagram — Anagram is making vision care more affordable and accessible for providers and consumers. Thousands of eye care practices use Anagram to operate independently, process out-of-network benefits, and deliver better pricing on eyewear for their patients.
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Elephant
VC Fund · Boston, Massachusetts, United States · 1 investments in Belgium B2B startups

Elephant provides venture capital investment and strategic advisory services to support startups and growth-stage companies. The firm partners with technology-driven enterprises, offering capital and guidance to help scale their operations and navigate market challenges. It emphasizes building long-term relationships with portfolio companies bydelivering tailored support in areas such as business development, fundraising, and operational strategy. The company engages actively with entrepreneurs to identify growth opportunities and optimize their market positioning. It operates with a focus on technology sectors, including software, digital media, and consumer internet services.

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Investment focus

  • Industry: Software, E-Commerce, Information Technology
  • Stage:Series A, Series B, Series C
  • Geography: United States, Canada, France

Investor stats

  • Total investments: 65
  • Round size: Series A $7.5M–$50M; Series B $20M–$78M; Series C $42M–$300M
  • Lead/follow: 66% lead, 34% follow
  • Last fund: Likely actively investing — fresh fund, raised $151M in 2025

Portfolio highlights

  • TJM Labs — Pharmacy AI agents that automate prescription intake, data entry, refills and patient calls inside your existing PMS. Scale without adding headcount.
  • Tekst — Analyze, enrich and automate your business communication in a secure and scalable way, leveraging our text intelligence platform.
  • ThreatLocker — Cybersecurity Tools, Application Whitelisting, Ringfencing | ThreatLocker Inc
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Newion
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 1 investments in Belgium B2B startups, 7 in the past 12 months

Experienced over decades, focused on the next ones. Close to our founders, not above them. Serious about building companies. Human in how we invest.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: The Netherlands, Belgium, Germany

Investor stats

  • Total investments: 87
  • Round size: Seed $1.2M–$6.5M; Series A $1.1M–$10M; Series B $5.4M–$66M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely still investing — raised $129M in 2022

Portfolio highlights

  • Nopan — We help large merchants, fintechs, and PSPs turn account and wallet payment methods into measurable revenue drivers.
  • Lightbringer — Experience the future of patent services with Lightbringer. Our AI-driven platform accelerates your patent process, ensuring efficiency and expertise from world-class patent attorneys.
  • BirdsView — BirdsView is to 'assist small e-commerce firms in transforming their own consumer data into effective, tailored marketing tactics and turning one-time purchases into devoted patrons.
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Sushi Venture Partners
VC Fund · London, England, United Kingdom · 1 investments in Belgium B2B startups

Sushi Venture Partners is an advisory and investment firm focused on the media tech sector. Our team of seasoned industry professionals advise, develop and invest in extraordinary companies that are looking to actively grow, connect and challenge the status quo. In doing so, we hope to change the art and media landscape, big time.

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Investment focus

  • Industry: Music, Software, Artificial Intelligence
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: United Kingdom, Israel, Germany

Investor stats

  • Total investments: 15
  • Round size: Seed $120k–$1.2M; Series A $652k–$3.3M
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • Musimap — Musimap helps you to play the right music / promote the right artist or album / insert the right advertisement / promote the right product or brand to the right audience!
  • MySphera — MySphera is an online media company that provides music platform solutions to help content creators connect with music hassle-free.
  • Know What's Loved — Data analytics, and data processing solutions for the music industry using Robot Process Automation, AI and Machine Learning technologies.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Peak
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 1 investments in Belgium B2B startups

European early-stage venture capital fund backed 100% by founders. Helping Pre-Seed and Seed SaaS, Marketplaces & Platforms with their Go-To-Market.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: The Netherlands, Germany, Sweden

Investor stats

  • Total investments: 120
  • Round size: Seed $570k–$5M; Pre-Seed $781k–$2.5M; Series A $6.5M–$17M
  • Lead/follow: 60% lead, 40% follow
  • Last fund: Likely still investing — raised $158M in 2022

Portfolio highlights

  • DREM — Simplifying distributed energy saving solutions
  • VoiceLine — VoiceLine is AI-powered field sales revenue intelligence. Document any customer interactions in seconds, get actionable insights and boost sales performance. Start today!
  • microsynetics GmbH — Developing hardware and software to help elderly people gaining more freedom and quality of life. Our first product is an emergency wristband which works together with an app, also connecting relatives via smartphone and phone integrated in the emergency wristband. The automated AI-based fall detection guarantees help even when the user - afteraccident - isn't capable anymore of activating the emergency call via integrated button.
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StartupLanes
VC Fund · New Delhi, Delhi, India · 1 investments in Belgium B2B startups

Empowering startups and investors worldwide. Access early-stage investments, SME IPO guidance, global networking chapters, and institutional capital access.

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Investment focus

  • Industry: Retail, B2B, Apps
  • Stage:Seed, Pre-Seed
  • Geography: India

Investor stats

  • Total investments: 47
  • Round size: Seed $70k–$3M; Pre-Seed $181k–$200k
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • Nsn Hotels — NSN Hotels provides the best online hotel booking site in India. Get the best hotel prices and discounts on your online hotel bookings.
  • Scrunchie.bar — Ayantika Guha is the founder of Scrunchie.bar, a small business startup specializing in premium hair accessories. Scrunchie.bar offers a curated selection of handmade designer scrunchies crafted from high-quality fabrics, ensuring they are both stylish and gentle on hair. With a focus on quality and comfort, Scrunchie.bar aims to provide customerswith unique, tangle-free hair accessories that elevate everyday looks.
  • RECEX — RECEX-Recruitment Exchange(Formerly SMVA Consultants) is an Exchange for Employers to access relevant candidates, sourced and serviced by multiple curated Recruitment Partners RECEX has cracked the Networking opportunity through its Franchise distribution . It has 40+ units across 11 cities which empowers the Network to support their clientslocally too. It has signed up with 850+ corporates and helped them in the Permanent Recruitment space.
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Hi Inov - Dentressangle
VC Fund · Lyon, Rhone-Alpes, France · 1 investments in Belgium B2B startups

Hi inov is a European B2B venture capital fund investing in software and digital companies from Paris, Lyon and Munich.

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Investment focus

  • Industry: SaaS, Software, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: France, Germany, Belgium

Investor stats

  • Total investments: 63
  • Round size: Seed $2M–$5.9M; Series A $3.3M–$11M; Series B $3.3M–$12M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — raised $46M in 2018

Portfolio highlights

  • Covalo — Covalo™ is disrupting how formulation-driven products are developed in the 3 trillion euro consumer goods industry so brands can reduce time to market by scouting ingredients and packaging, collaborating on projects, and purchasing -- all from one place. . Today it's one of the largest beauty ingredient search platforms that connects beautybrands with suppliers of ingredients, packaging, and services such as contract manufacturing, formulation, regulatory, compliance and testing. It also arms suppliers with the tools and real-time industry insights needed to effectively market products. Covalo launched in 2021 and is based in Switzerland.
  • MyC — Reduce and better manage health-related risks with MyC.
  • Actionable — AI-powered decision engine that predicts customer behaviour and explains what drives your KPIs. Turn raw data into actionable decisions in minutes.
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Industrya
VC Fund · Seraing, Liege, Belgium · 1 investments in Belgium B2B startups

We are a hands-on investment fund that operates exclusively in the Industry 4.0, energy and new materials sectors. Industrya is an initiative of the John Cockerill industrial group, which joins together the investment funds of SFPI-FPIM, SRIW-WING, NOSHAQ and LRM.

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Investment focus

  • Industry: Industrial, Manufacturing, Logistics
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: France, Belgium

Investor stats

  • Total investments: 13
  • Round size: Seed $1M–$4.2M; Series A $3.2M–$6.7M; Venture - Series Unknown $946k–$4M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Aloxy — Aloxy offers reliable IIot solutions tailored to the needs of the process industry. Our valve sensor provides an open and close indication of manual valves.
  • PureNat — PureNat is a deep-tech economy company that has developed a brand new patented biomimetic material for the purification of air and sustainable air pollution control solutions.
  • Get Your Way — Discover the future of assisted reality with Get Your Way's aRdent smart glasses. Perfect for SMEs looking for innovative solutions to improve their business
Show all investments...

ING Group
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 1 investments in Belgium B2B startups, 29 in the past 12 months

Corporate site of ING, a global financial institution of Dutch origin, providing news, investor relations and general information

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Investment focus

  • Industry: Energy, Renewable Energy, Solar
  • Stage:Debt Financing, Post-IPO Debt, Series B
  • Geography: United Kingdom, United States, The Netherlands

Investor stats

  • Total investments: 132
  • Round size: Series B $15M–$160M; Post-IPO Debt $149M–$3B; Debt Financing $91M–$1.3B
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Return — We are a club of optimists
  • Delin Property — Delin Property develops, owns, and manages distribution properties in urban locations that are well-located and set to benefit from the increasing success of e-commerce and Europe's logistics sector.
  • Peel Land and Property — Peel Land and Property is a commercial real estate company that develops, manages, and leases properties for the logistics sector.
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B2B VC funding in Belgium at a glance

Stats across 19 deals from 26 investors.

26
investors
in Belgium B2B startups
19
deals
in Belgium B2B startups
$1M
median round
in Belgium B2B startups
38%
lead investors
lead at least one round
42%
Seed
most common funding stage

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