# Top 50 Hardware Startup Investors in Belgium in June 2026 ## PMV - Type: VC Fund - Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 14 - Stages: Series A, Seed - Focus: Software, Biotechnology, Health Care Do and dare company ## imec.xpand - Type: VC Fund - Location: Leuven, Vlaams-Brabant, Belgium - Relevant deals: 10 - Stages: Seed, Series A, Series B - Focus: Semiconductor, Manufacturing, Medical Device Expanding nanotechnology into business. ## Qbic Fund - Type: VC Fund - Location: Belgium, Wisconsin, United States - Relevant deals: 9 - Stages: Seed, Series A - Focus: Biotechnology, Software, Health Care The Qbic Fund is a multi-sector fund supporting spin-off companies of the Ghent, Brussels and Antwerp university associations and of VITO. Through its strategic partnership with the universities of Ghent, Brussels and Antwerp, and VITO, the Qbic Fund has early and privileged access to promising research projects at these partner universities. Ourinvestment approach is based on early in-depth and independent review and analysis followed by hands on involvement and support.In May 2012 the Qbic Fund held its first close and currently it has over € 30 million under management. The Qbic Fund is backed by several public and private investors and managed by Qbic Venture Partners. ## Limburgse Reconversie Maatschappij - Type: VC Fund - Location: Hasselt, Limburg, Belgium - Relevant deals: 8 - Stages: Seed, Series A - Focus: Information Technology, Software, Biotechnology Oxygen for growth - LRM ## WING by Digital Wallonia - Type: VC Fund - Location: Liège, Liege, Belgium - Relevant deals: 7 - Stages: Seed, Convertible Note, Series A - Focus: Software, Health Care, SaaS W.IN.G by Digital Wallonia invests in SAAS, advanced tech and deep tech startups (AI, drones, medtech, IOT,...). W.IN.G brings smart money by helping startups by bi-weekly interactions and providing an operating teams (seasonal entrepreneurs being hands-on with the portfolio). ## The Faktory Fund - Type: VC Fund - Location: Liège, Liege, Belgium - Relevant deals: 6 - Stages: Seed, Pre-Seed - Focus: Software, Analytics, Information Technology The Faktory is a hub for business ideas based on any disruptive technology with a high potential in international niche markets: ICT, Health, Environment, Media, Broadcast and more. ## Toon Coppens - Type: Angel - Location: Gent, Oost-Vlaanderen, Belgium - Relevant deals: 6 - Stages: Seed, Pre-Seed, Angel - Focus: SaaS, Software, Sales Automation Toon Coppens (Belgium, 1981), graduated as a Master of Science in Informatics at the University of Ghent.In june 2000, during his first year at university, he successfully launched the first Belgian social networking site, which later became Redbox.be.He is the co-founder of Massive Media, the social media company behind the successfuldigital brands Netlog.com and Twoo.com. Massive Media enables members to meet nearby people instantly. Today, Over 80 million people have joined our sites on web and mobile.Toon lives in Ghent (Belgium) and London (UK), loves snowboarding and used to deejay and play volleyball a lot.>> Toon's personal Netlog (dutch)>> Twoo.com (dutch) ## Lorenz Bogaert - Type: Angel - Location: Gent, Oost-Vlaanderen, Belgium - Relevant deals: 6 - Stages: Seed, Pre-Seed, Series A - Focus: Software, Artificial Intelligence, SaaS Lorenz is co-founder and CEO Ghent-based start-up studio StarApps. He also co-founded early stage investment fund Pitchdrive. He previously created Netlog, Twoo (exit to Tinder), Realo (exit to Axel Springer), Delta (exit to eToro) and Rydoo (exit to Sodexo). ## Allegro Investment Fund - Type: VC Fund - Location: Heverlee, Vlaams-Brabant, Belgium - Relevant deals: 4 - Stages: Series A, Series B - Focus: Software, Hardware, Apps Allegro Investment Fund is an open end seed capital investment fund, focussing on high-tech ventures. With a combined experience of more then 40 years of experience in high-tech start-up management, the AIF team adds smart money to your capital needs. ## Capricorn Partners - Type: VC Fund - Location: Leuven, Vlaams-Brabant, Belgium - Relevant deals: 4 - Stages: Series B, Series A - Focus: Biotechnology, Health Care, Software Capricorn Partners is a unique independent manager of venture capital, growth capital and quoted equity funds ## KBC Focus Fund - Type: VC Fund - Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 3 - Stages: Seed, Series A - Focus: Electronics, Semiconductor, Health Care The KBC Focus Fund is a € 50 million venture capital fund that leverages the network of KBC in our investments. As we are an evergreen fund, we always strive for an exit when market conditions are favourable. ## Lean FUND - Type: VC Fund - Location: Louvain, Vlaams-Brabant, Belgium - Relevant deals: 3 - Stages: Seed, Series B - Focus: Internet, Apps, Software Startups, increase your value by 3 within 9 months thanks to Power 3 by Leanfund (www.leanfund.com)! ## Be Angels - Type: VC Fund - Location: Louvain-la-neuve, Vlaams-Brabant, Belgium - Relevant deals: 3 - Stages: Seed, Pre-Seed - Focus: SaaS, Software, Health Care Early stage Entrepreneurs Coaching and FinancingOne of Europe's leading Business Angels Networks. We connect innovative growth companies to equity finance and coaching by experienced angel investors. The network is 250 members strong and has been assisting innovative entrepreneurs to find financing for more than 10 millions Euros in thelast 4 years. ## Volta Ventures - Type: VC Fund - Location: Gent, Oost-Vlaanderen, Belgium - Relevant deals: 3 - Stages: Seed, Series A - Focus: Software, Information Technology, Artificial Intelligence Volta Ventures is a venture capital firm that offers seed & early stage VC for internet & software companies in the Benelux.The fund’s team, with active support from some 30 business angels, expects to make a substantial impact on every company it invests in by working with the founders and management to identify new markets andcustomers, hire senior talent, provide ongoing guidance and arrange further financing rounds.Volta Ventures has offices in Ghent and Amsterdam. ## Angelwise - Type: VC Fund - Location: Hasselt, Limburg, Belgium - Relevant deals: 3 - Stages: Seed, Pre-Seed - Focus: Software, SaaS, Information Technology Angelwise Vlaams Investeringsfonds ## Jonas Dhaenens - Type: Angel - Location: Gent, Oost-Vlaanderen, Belgium - Relevant deals: 3 - Stages: Seed, Angel, Pre-Seed - Focus: Software, SaaS, Internet Jonas Dhaenens - Group CEO @ team.blue Denmark ## Big Bang Ventures - Type: VC Fund - Location: Antwerpen, Antwerpen, Belgium - Relevant deals: 3 - Stages: Series A, Series B - Focus: Software, Cloud Computing, Apps Supporting Exceptional entrepreneurs. We value emotional intelligence as much as data, growing internal culture as much as growing revenue, and forming strong, personal bonds with founders. We recognize patterns where other don't. ## Capital-E - Type: VC Fund - Location: Washington, District of Columbia, United States - Relevant deals: 3 - Stages: Series B, Series A - Focus: Software, Manufacturing, Semiconductor Leading venture capital fund with exclusive focus on micro/nano-electronics and advanced materials ## Flanders Future Techfund - Type: VC Fund - Relevant deals: 3 - Stages: Seed - Focus: Medical, Semiconductor, Clinical Trials Flanders Future Techfund operates as an investment firm. ## Fidimec - Type: VC Fund - Location: Leuven, Vlaams-Brabant, Belgium - Relevant deals: 3 - Stages: Series A, Seed - Focus: Industrial, Semiconductor, Medical Fidimec is a Belgium-based venture capital firm that offers investment and incubation services for seed stage startups. ## Gemma Frisius Fund - Type: VC Fund - Location: Leuven, Vlaams-Brabant, Belgium - Relevant deals: 3 - Stages: Seed, Series B, Series A - Focus: Biotechnology, Health Care, Medical Gemma Frisius Fund KU Leuven is a seed capital fund that aims to stimulate the creation and growth of university related spin-off companies. ## Baekeland Funds - Type: VC Fund - Location: Gent, Gelderland, The Netherlands - Relevant deals: 3 - Stages: Series B, Series C - Focus: Biotechnology, Hardware, Software Baekeland Funds is a seed capital fund formed to invest in companies developed at the University of Ghent. ## Gimv - Type: VC Fund - Location: Antwerpen, Antwerpen, Belgium - Relevant deals: 2 - Stages: Series B, Series A - Focus: Biotechnology, Health Care, Medical Gimv, a trusted European investment company, helps mid-market businesses create sustainable value through growth capital and expertise across diverse sectors. ## SFPIM - Type: VC Fund - Location: Brussel, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 2 - Stages: Series A, Series B, Series C - Focus: Biotechnology, AgTech, Agriculture SFPIM investment firm that invests in technology and infrastructure. ## XAnge - Type: VC Fund - Location: Paris, Ile-de-France, France - Relevant deals: 2 - Stages: Series A, Seed, Series B - Focus: Software, SaaS, E-Commerce XAnge is a Franco-German team of venture capital investors that manages €450 million and invests in digital, deeptech, and impact startups.It is the innovation brand of the Siparex group, a major player in French private equity. XAnge is a key European investor in early-stage startups and is looking for game-changing startups and entrepreneurswho rock the code[s].The Paris, Ile-de-France-located company was founded in 2004. ## Sambrinvest - Type: VC Fund - Location: Gosselies, Hainaut, Belgium - Relevant deals: 2 - Stages: Seed, Series A, Series B - Focus: Biotechnology, Health Care, Medical Sambrinvest is an active venture capital player in the region of Charleroi - Thuin. ## Eurazeo - Type: VC Fund - Location: Paris, Ile-de-France, France - Relevant deals: 2 - Stages: Series B, Seed - Focus: Software, Information Technology, Health Care Eurazeo is a private equity and venture capital firm that invests in SMEs and manages a diversified portfolio of assets.With its expertise in private equity, real estate, and private debt, the group supports companies of all sizes in their development commitment through the commitment of its 235 professionals. It provides companies with thenecessary investments needed to realize their growth potential.The firm was founded in 1969 and is based in Paris, Ile-de-France, France. ## Nuoyan Capital - Type: VC Fund - Location: Shanghai, Shanghai, China - Relevant deals: 2 - Stages: Seed, Series A - Focus: Manufacturing, Semiconductor, Electronics Nuoyan Capital is a premier industrial investment institution specializing in optoelectronic displays, smart cars, compound semiconductors, and new energy. ## Terra Drone - Type: VC Fund - Location: Tokyo, Tokyo, Japan - Relevant deals: 2 - Stages: Series A, Series B - Focus: Robotics, Aerospace, Drone Management Terra Drone Indonesia provides drone services for various industry sector such as mining, construction, oil & gas, energy, and utilities. ## New Enterprise Associates - Type: VC Fund - Location: Menlo Park, California, United States - Relevant deals: 2 - Stages: Series A, Series B, Series C - Focus: Software, Health Care, Biotechnology Foundational partners to ambitious founders at every stage of company-building. ## Innovation Fund - Type: VC Fund - Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 2 - Stages: Seed, Series A - Focus: Health Care, Manufacturing, Information Technology Chemical, Advanced Materials, Cosmetics, Recycling, CleanTech, Plastics and Rubber Manufacturing, Nanotechnology, Biosciences ## Korys - Type: VC Fund - Location: Halle, Vlaams-Brabant, Belgium - Relevant deals: 2 - Stages: Series B, Series A - Focus: Biotechnology, Renewable Energy, Information Technology Korys is the name chosen by the Colruyt family for their investment structure. The name Korys is derived from the Latin word for hazelnut tree – Corylus - which is at the origin of the Colruyt name.Their multi-disciplinary approach enables us to create a well-balanced, diversified portfolio of listed stocks and bonds, private equity funds, anddirect participations in small and medium-sized companies. Through their investments, they aim to make a positive impact on people and the planet, while generating attractive returns. A “three P” approach (People, Planet, Profit) forms the cornerstone of their investment strategy. They invest for the long term, as they realize that it takes time to achieve the sustainable impact they are aiming for. They focus their investments in sectors in which they have built substantial expertise as a team: Cleantech, consumer goods & retail and life sciences. ## IAG Capital Partners - Type: VC Fund - Location: Charleston, South Carolina, United States - Relevant deals: 2 - Stages: Series B, Series A, Seed - Focus: Software, Health Care, Artificial Intelligence IAG Capital Partners is an investment firm that sole source of financing and investment rounds with other debt and equity investors. ## Flanders Innovation and Entrepreneurship (VLAIO) - Type: VC Fund - Location: Brussel, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 2 - Stages: Grant, Pre-Seed, Seed - Focus: Biotechnology, Health Care, Software Basic and applied research fund of the Flemish regional government in Belgium ## TCD Capital (ex TheClubDeal) - Type: VC Fund - Location: Uccle, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 2 - Stages: Series A, Series B, Seed - Focus: Health Care, Biotechnology, Information Technology TheClubDeal is an investment holding and fund manager co-investing into SME’s and real estate projects. It provides facilitation of governance between non-executive shareholders and entrepreneurs. Its governance structure, including its charter of avoidance of conflict of interests, is therefore paramount to the adequate management of the Company.At TheClubDeal, we connect Investors and Entrepreneurs around promising investment opportunities. For each of these, we will invest ourselves and co-invest with a selected number of investors. We add value by processing strong applied governance principles, when selecting and managing our investments, and by gathering the necessary skills to successfully grow the businesses and real-estate projects we co-invest in. TheClubDeal is launching their second fund, a 50M € PRIVAK/PRICAF in H1 2021 with the mandate to invest in Belgian scale-ups in three sectors: Smart Living, Tech and Life Sciences. ## Meusinvest (Noshaq) - Type: VC Fund - Location: Liège, Liege, Belgium - Relevant deals: 2 - Stages: Seed, Series A - Focus: Health Care, Biotechnology, Medical Noshaq offers financial services to help businesses develop. ## Partech - Type: VC Fund - Location: Paris, Ile-de-France, France - Relevant deals: 2 - Stages: Series A, Seed, Series B - Focus: Software, E-Commerce, Financial Services Partech is a global venture capital firm with offices in San Francisco, Paris, Berlin and Dakar. Partech invests in Internet and information technology startups at seed, venture and growth stages. ## KPN Ventures - Type: VC Fund - Location: Rotterdam, Zuid-Holland, The Netherlands - Relevant deals: 2 - Stages: Series A, Series B, Seed - Focus: Software, SaaS, Internet of Things KPN Ventures is a corporate venture arm of KPN that aims to partner with innovative technology companies, providing access to capital, expertise, network, and customer channels. It focuses on early growth-stage European companies in networking technology, the internet of things, smart home, digital healthcare, cyber security, mobile and video (OTT)services, cloud computing, data, and analytics. It began operation on June 1, 2015, with its headquarters in Rotterdam in the Netherlands. ## LeanSquare - Type: VC Fund - Location: Liège, Liege, Belgium - Relevant deals: 2 - Stages: Seed, Series A - Focus: Software, Music, Internet New Economy Startups Investor & Accelerator ## Quest for Growth - Type: VC Fund - Location: Leuven, Vlaams-Brabant, Belgium - Relevant deals: 2 - Stages: Series B, Series C - Focus: Biotechnology, Hardware, Software Quest for Growth (QGPLF) is an Internet company located in 19 Lei, Leuven, Flanders, Belgium. ## Inventures SA - Type: VC Fund - Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 2 - Stages: Series A, Seed - Focus: Health Care, Biotechnology, Manufacturing Inventures is a European venture capital fund that builds a better world through a portfolio of investments in sustainable businesses.The firm has two funds: Inventures I & Inventures II.Inventures was created to support early stage smart and innovative European businesses, to support sustainable job growth and empower entrepreneurs.Inventures empowers citizenship co-investments through a crowdfunding platform, MyMicroInvest. ## Finance.Brussels - Type: VC Fund - Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 2 - Stages: Seed, Series A - Focus: Software, Information Technology, Internet Regional Investment Company of Brussels ## Akiles - Type: VC Fund - Location: Rhode-saint-genèse, Vlaams-Brabant, Belgium - Relevant deals: 2 - Stages: Private Equity, Series A - Focus: Health Care, Software, Wellness Akiles is a Belgian Evergreen Investment Company focussing on Growth Capital. Managed by Christophe Rousseaux, Kurt Huyghe, Laurent Puissant Baeyens and ## Vesalius Biocapital Partners - Type: VC Fund - Location: Strassen, Luxembourg, Luxembourg - Relevant deals: 2 - Stages: Series A, Series B, Series C - Focus: Biotechnology, Health Care, Medical Vesalius Biocapital Partners invests in companies active in human health through venture capital funds raised since 2007. They have contributed to developing 20 companies since inception.With more than € 150 million under management in two funds. Vesalius Biocapital Partners plays the role of lead investor in the large majority of its financingrounds.Their companies are based in Europe allowing easy interaction with management.They invest in all stages of development and do not shy away from relatively early-stage projects with a sound proprietary technology and corresponding IP, unique team skills and a clear competitive edge based on solid data. ## Vives Louvain Technology Fund - Type: VC Fund - Location: Louvain-la-neuve, Vlaams-Brabant, Belgium - Relevant deals: 2 - Stages: Series A, Series B - Focus: Health Care, Biotechnology, Medical Vives is an interregional seed and early stage technology multi-sector fund. The new fund, initiated by UCLouvain, is a unique European inter-university fund having access to world class innovations from leading EU top universities. ## S.R.I.W. - Type: VC Fund - Location: Liège, Liege, Belgium - Relevant deals: 2 - Stages: Series A, Series B - Focus: Health Care, Biotechnology, Manufacturing The S.R.I.W. Group is an institution at the heart of the financial market that assists entrepreneurs in creating and developing businesses in the Walloon region. It reflects the effort of Wallonian industry in facing the challenges of the creation of economic value in the 21st century. Since its creation in 1979, the Société Régionaled’Investissement de Wallonie has continuously been expanding its abilities to adapt and anticipate as well as its flexibility in order to meet the requirements of its partners who are confronted with the evolution of the world economy. The principles of good governance, a strong business culture and shared values at the heart of the Group constitute important assets to capture the changing realities of the market and progress in a sustainable development perspective. ## Olivier Coune - Type: Angel - Relevant deals: 2 - Stages: Seed - Focus: Outdoors, Software, Lifestyle Olivier Coune ## Boris Bogaert - Type: Angel - Location: Antwerp, Antwerpen, Belgium - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: Software, SaaS, FinTech Startup Enabler & Angel Investor. In 2011 I co-founded Cardwise that later became Xpenditure NV an innovative product for managing expenses. Which was acquired by Sodexo Group (EURONEXT:SDXOF) in March 2017 after a very succesfull growth phase with more then 6000 customers globally (eg. Deloitte, Henkel, PWC,....) Reinvested partly in the newventure with Sodexo & iAlbatros. We launched this new corp-up venture in June 2018 under the name of RYDOO and I'm acting COO and board member.. Next to that I'm also investing in promising early stage startups with Tumbzup bvba.In the early 90ies I've been involved in commercialisation of the first Internet solutions. My passion has always been making new innovative products marketable towards B2B markets. I've pioneered in the internet sector and have been involved in the launch of Europe's first Internet service providers PING (Eunet) and Yucom (JV BT & ING), now both part of Belgacom (BELG:BB).Later, I became Chief Commercial Officer at SpaceChecker and after the acquisition by Punch Telematix, I became Country Manager. Punch Telematix is now owned by Trimble (NASDAQ: TRMB). In 2007, I joined Massive Media (publishers of Netlog & TWOO), a leading European on-line community that has recently been acquired by IACI (NASDAQ:IACI). As Director of Business Development, I successfully set-up the complete business development strategy and team from scratch. ## European Commission - Type: VC Fund - Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium - Relevant deals: 2 - Stages: Grant, Seed, Pre-Seed - Focus: Software, Health Care, Biotechnology The official website of the European Commission, providing access to information about its political priorities, policies and services ## VCT Vector Gestion - Type: VC Fund - Location: Nyon, Vaud, Switzerland - Relevant deals: 2 - Stages: Seed - Focus: Computer, Electronics, Manufacturing VCT Vector Gestion is a wealth management company that offers financial services.