# Top 50 Impact VC (Venture Capital) Funds in Belgium in June 2026

## Limburgse Reconversie Maatschappij
- Type: VC Fund
- Location: Hasselt, Limburg, Belgium
- Relevant deals: 6
- Stages: Seed, Series A
- Focus: Information Technology, Software, Biotechnology

Oxygen for growth - LRM

## Innovation Fund
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 5
- Stages: Seed, Series A
- Focus: Health Care, Manufacturing, Information Technology

Chemical, Advanced Materials, Cosmetics, Recycling, CleanTech, Plastics and Rubber Manufacturing, Nanotechnology, Biosciences

## Gemma Frisius Fund
- Type: VC Fund
- Location: Leuven, Vlaams-Brabant, Belgium
- Relevant deals: 4
- 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.

## PMV
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 3
- Stages: Series A, Seed
- Focus: Software, Biotechnology, Health Care

Do and dare company

## Gimv
- Type: VC Fund
- Location: Antwerpen, Antwerpen, Belgium
- Relevant deals: 3
- 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.

## 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

## ABB Ventures
- Type: VC Fund
- Location: Zürich, Zurich, Switzerland
- Relevant deals: 2
- Stages: Series B, Series A
- Focus: Software, Energy, Robotics

Learn about ABB Ventures and our investments in transformative industrial technologies.

## WE International
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Energy, Health Care, Solar

WE International is a financial firm that provides an array of loans, funding, acquisition, and investment services.

## Elia Group
- Type: VC Fund
- Location: Brunelles, Centre, France
- Relevant deals: 2
- Stages: Seed, Series A, Private Equity
- Focus: Energy, Solar, Software

With a reliability level of 99.999 percent, Elia Group provides society with a robust electricity grid. We operate an electricity transmission system with voltage levels between 30 and 400 kilovolt (kV), and 50Hertz transports electricity over high-voltage levels of 150, 220 and 380 kilovolts (kV). 

## LeanSquare
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Music, Information Technology

New Economy Startups Investor & Accelerator

## Nuhma
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Battery, Software, GreenTech

Namens de Limburgse gemeenten en Laakdal werken we aan duurzaamheid, energie en innovatie via gerichte participaties

## Meusinvest (Noshaq)
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Biotechnology, Health Care, Medical

Noshaq offers financial services to help businesses develop.

## 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

## 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.

## Seeder Fund
- Type: VC Fund
- Location: Anderlecht, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, SaaS

Seeder Fund is an early-stage financing and growth capital for digital startups. For young start-ups with a start in commercial traction it offers seed funding of up to EUR 200,000 to validate their value proposition and product-market fit. For start-ups preparing for Series A it provides funding of up to EUR 300,000 to confirm the growth potentialand move closer to break-even. For scale-ups, the Seeder Fund can also help finance the company's growth, this time in the form of a capital stake of up to 1,000,000 EUR.

## Qbic Fund
- Type: VC Fund
- Location: Belgium, Wisconsin, United States
- Relevant deals: 2
- 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.

## Montan-Ventures-Saar
- Type: VC Fund
- Location: Saarbrücken, Saarland, Germany
- Relevant deals: 1
- Stages: Seed
- Focus: Software, Internet of Things, Sales

Montan-Ventures-Saar is a venture capital firm.

## AFI Ventures
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: GreenTech, Health Care, Environmental Consulting

Alliance For Impact (AFI) is a category-defining structure for impact companies combining equity-free acceleration with first-ticket seed funding.

## Alychlo
- Type: VC Fund
- Relevant deals: 1
- Stages: Series D, Series E
- Focus: CRM, Energy, Medical

Alychlo

## Nivelinvest
- Type: VC Fund
- Location: Louvain-la-neuve, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Biotechnology, iOS, Sports

Nivelinvest is a venture capital firm based in Belgium that finances seed stage investments of Small and Medium Enterprises.

## General Motors Ventures
- Type: VC Fund
- Location: Warren, Michigan, United States
- Relevant deals: 1
- Stages: Series C, Series A
- Focus: Automotive, Software, Energy

GM Ventures combines investing in automotive-related tech startups with General Motors support to drive innovation and advance the future of mobility.

## Kima Ventures
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, SaaS, Artificial Intelligence

Kima Ventures promotes the growth of startups, supporting them in the fastest and most effective ways.

## PMV Tina Fund
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A, Series D, Series E
- Focus: Manufacturing, Eyewear, Printing

PMV Tina Fund is a venture capital firm that specializes in growth capital investments.

## imec.istart Future Fund
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Satellite Communication, Software, Health Care

Early-stage venture capital fund focused on alumni of the imec.istart accelerator and exceptional tech founders building in Applied AI, Spacetech, Healthtech, and Deep Tech. Based in Antwerp, Belgium.

## Ark Angels Activator Fund
- Type: VC Fund
- Location: Hasselt, Limburg, Belgium
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Software, Information Technology, SaaS

Ark Angels Activator Fund SA is a closed venture capital fund (closed-end private equity investment fund) with a capital of 14.8 M EUR. The Fund is recognized as ARKIV and has obtained the status of Private Privak under Belgian law. The Fund is managed by a management company set up by BAN Vlaanderen VZW, ING Belgium & the two fund managers.The Fund initially acted primarily as a co-investor in investments made by business angels who are members of BAN Vlaanderen, but then also co-invested with other capital providers.
It focuses not only on investments in young growth companies, but also on companies in the growth or transfer phase with an operating office in Flanders,

## Climate Club
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Renewable Energy, Software, Manufacturing

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## Eutopia VC
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Retail, E-Commerce, Food and Beverage

Eutopia is a fund for consumer startups. We back founders who are rethinking the way we eat, shop, sleep and feel. We are backing 26 startups

## invest.bw
- Type: VC Fund
- Location: Louvain-la-neuve, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Seed
- Focus: Health Care, Neuroscience

invest.bw is a venture capital firm.

## Seed Capital Bizkaia
- Type: VC Fund
- Location: Bilbao, Pais Vasco, Spain
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Biotechnology, Manufacturing

Seed Capital de Bizkaia is a Regional Council company affiliated to Biscay Regional Council's Department of Economic Development and Innovation (Departamento de Innovación y Promoción Económica de la Diputación Foral de Bizkaia) whose aim is to manage a Venture Capital Fund called “Seed Capital Bizkaia, F.C.R.“.

## Spri
- Type: VC Fund
- Location: Bilbao, Pais Vasco, Spain
- Relevant deals: 1
- Stages: Seed
- Focus: Automotive, Clean Energy, Embedded Software

SPRI is a basque business development agency.

## Aperam Ventures
- Type: VC Fund
- Location: Luxembourg, Luxembourg, Luxembourg
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: CleanTech, Manufacturing, Renewable Energy

Aperam Ventures, a subsidiary of the steel company Aperam Group

## Gesval
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed, Series C
- Focus: Medical, Software, Wellness

A limited company of the University of Liège (ULiege).

## Noshaq
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Battery, Electric Vehicle, Charging Infrastructure

The province's economic redistribution and development are facilitated by the Noshaq group.

## H&M Foundation - Global Change Award
- Type: VC Fund
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Fashion, CleanTech, GreenTech

WINNER CALL FILM The latest

## Otium Capital
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Health Care, E-Commerce

In 2015, two independant investment teams were created in Paris inside Otium Capital, Pierre-Edouard Stérin's family office:* Otium Venture, focused on Seed investments in Tech companies (€40m invested in 14 companies among which Payfit, Doctrine, Owkin...)* Otium Brands, focused on Seed & Series A investments in Consumer GoodscompaniesIn 2019, the two teams spun off to become independant investment firms:* Otium Venture became frst* Otium Brands became Eutopia

## AXE Investments N.V.
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 1
- Focus: Energy, Recycling, Clean Energy

AXE Investments is a joint venture between the holding companies Anacom and Ackermans & van Haaren and is part of the AXE Group

## Chroma Impact Investment
- Type: VC Fund
- Location: Braine-l'alleud, Brabant Wallon, Belgium
- Relevant deals: 1
- Stages: Series A
- Focus: Drones, Software, Aerospace

Chroma Impact Investment is an investment firm that transition towards sustainable and renewable sources of energy production. As a company that invests in and develops industrial energy projects, Chroma acts as a catalyst for this transition.Their current geographic focus is in Europe and Africa.Their shareholders come from Belgian industrialfamilies who want to participate in the energy transition while contributing concretely to the development of meaningful projects with a positive social and environmental impact.

## S.R.I.W.
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 1
- 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.

## AMAVI Capital
- Type: VC Fund
- Location: Eke, Oost-Vlaanderen, Belgium
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Real Estate, Information Technology, Software

AMAVI is an independent and dedicated Pan-European investor established to support growth of the leading and most promising companies active in the PropTech industry, with a geographical focus on the Benelux, Nordics, Germany, Switzerland and France. AMAVI aims to create a bridge between the traditional real estate industry on the one hand and themost groundbreaking European PropTech companies on the other hand, by leveraging on its combined expertise and network from the real estate, technology and private equity industry. AMAVI partners with the world-shapers, creating companies that radically change the places we live, work and relax in today.

## Entourage
- Type: VC Fund
- Location: Ghent, Oost-Vlaanderen, Belgium
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: SaaS, Software, Information Technology

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

## PDENH
- Type: VC Fund
- Location: Xhendelesse, Liege, Belgium
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Energy, Manufacturing, Renewable Energy

ROM InWest helpt innovatieve ondernemers bij de groei en ontwikkeling van hun startup, scale-up of mkb-bedrijf.

## Airborn
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Software, CleanTech, GreenTech

Airborn fund is investing in founders with impact

## Lune Ventures
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: CleanTech, Manufacturing, Renewable Energy

Lune Ventures is a investment firm that helps tech, energy, and real estate to grow businesess.

## Ventech
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Series A, Series B, Seed
- Focus: Software, E-Commerce, Internet

On-the-ground expert investors in early-stage digital. Ready to meet you, wherever you are.

## DDM Holding AG
- Type: VC Fund
- Location: Baar, Zug, Switzerland
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Waste Management, Information Services, Supply Chain Management

DDM Holding AG acquires and manages distressed asset portfolios with a focus on non-performing loans in Eastern Europe.

## QBIC II
- Type: VC Fund
- Relevant deals: 1
- Stages: Series B, Series A
- Focus: Industrial, Construction, Biotechnology

QBIC II

## Delaware
- Type: VC Fund
- Location: Gent, Oost-Vlaanderen, Belgium
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Venture - Series Unknown
- Focus: SaaS, Software, Waste Management

Delaware is a global company that provides advanced technology solutions and services to clients to assist them with their business and digital transformations. It offers customers after-sales support to ensure continuity and continuous improvement. It uses a sustainable business model that is unique and is part of a long-term vision from allperspectives.

## Lean FUND
- Type: VC Fund
- Location: Louvain, Vlaams-Brabant, Belgium
- Relevant deals: 1
- 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)!

## Creos Luxembourg
- Type: VC Fund
- Location: Luxembourg, Luxembourg, Luxembourg
- Relevant deals: 1
- Stages: Series C
- Focus: Renewable Energy, Intelligent Systems, Electrical Distribution

Creos Luxembourg is the operator of electricity networks and natural gas pipes in Luxembourg.

## Innogy Venture Capital
- Type: VC Fund
- Location: Essen, Nordrhein-Westfalen, Germany
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Energy, CleanTech, Renewable Energy

Innogy Venture Capital is a fund management company in distributed energy solutions. The company focuses on investments in European startup companies that provide solutions and new business models shaping the future energy market. With a final closing size of EUR 115 million, the currently managed "Innogy Renewables Technology Fund I" isa leading early stage investor in this segment in Europe. The fund's sponsors are RWE Innogy and CEE Holding. RWE Innogy pools within the German utility RWE the expertise for construction and operation of renewable energy generation assets. CEE Holding is an investment company of Bankhaus Lampe Group, focusing on renewable energy generation.