# Top 50 Manufacturing Startup Investors 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

## imec.xpand
- Type: VC Fund
- Location: Leuven, Vlaams-Brabant, Belgium
- Relevant deals: 6
- Stages: Seed, Series A, Series B
- Focus: Semiconductor, Manufacturing, Medical Device

Expanding nanotechnology into business.

## 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

## PMV
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 5
- Stages: Series A, Seed
- Focus: Software, Biotechnology, Health Care

Do and dare company

## S.R.I.W.
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 5
- 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.

## Finindus
- Type: VC Fund
- Location: Zelzate, Oost-Vlaanderen, Belgium
- Relevant deals: 4
- Stages: Series A, Seed
- Focus: Manufacturing, Industrial, Renewable Energy

Finindus provides early stage financing and growth capital to innovative companies active in the area of materials, material processing and sustainable manufacturing. We are funded by ArcelorMittal and the Flemish Region and linked to OCAS, the world class metals research center located in Belgium.

## 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.

## HCVC
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 3
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Artificial Intelligence, Robotics

HCVC is an early-stage Venture Capital firm backing hardtech companies worldwide. Beyond its fund, HCVC supports hardtech founders through Hardware Club, a selective global community of 500+ startups with dedicated resources, partnerships and events.

## Industrya
- Type: VC Fund
- Location: Seraing, Liege, Belgium
- Relevant deals: 3
- Stages: Seed
- Focus: Industrial, B2B, SaaS

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.

## Thibaud Elziere
- Type: Angel
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 3
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Internet, Information Technology

Thibaud Elziere is the Founder of Hexa. He previously worked at Fotolia as a Founder. Thibaud Elziere attended Technical University of Berlin.

## Qbic Fund
- Type: VC Fund
- Location: Belgium, Wisconsin, United States
- Relevant deals: 3
- 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.

## Eurazeo
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 3
- 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.

## Meusinvest (Noshaq)
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 3
- Stages: Series A, Seed
- Focus: Biotechnology, Health Care, Medical

Noshaq offers financial services to help businesses develop.

## The Faktory Fund
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 3
- 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.

## KBC Focus Fund
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Semiconductor, Electronics, Manufacturing

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.

## Fred Potter
- Type: Angel
- Location: Paris, Ile-de-France, France
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Artificial Intelligence, SaaS, Software

Engineer from Telecom ParisTech and holder of a PHD in Microelectronics, Fred is a passionate entrepreneur who has been reinventing objects we use in our everyday lives for over 20 years.
In 1999, he started CIRPACK, a telecommunications supplier, later bought by TECHNICOLOR; and WITHINGS, sold to NOKIA, before creating NETATMO in 2011.
His vision:a company where every employee knows how the business and projects grow and where daily life is driven by a strong sense of innovation, empowerment, hard work and sharing.

## Francis Nappez
- Type: Angel
- Location: Paris, Ile-de-France, France
- Relevant deals: 2
- Stages: Seed, Angel, Series A
- Focus: Software, Internet, SaaS

Francis leads the technical and product evolution of BlaBlaCar and has been instrumental in building the platform since 2006, allowing it to grow from hosting a few thousand members to millions today. He knows how to turn ambitious ideas into reality, and believes in building robust solutions which can adapt to fast growth and stay relevant for thelong-term. Francis cares about building agile cross-functional teams across locations to deliver efficiently on ambitious objectives. Pragmatic and result-oriented, he is driven by the opportunity to create disruptive solutions which better the user experience.  Before joining BlaBlaCar, Francis led major technical developments for big names in European consumer internet which drove impactful disruptions in their respective sectors, including Free and Meetic. Francis holds a degree in Technology and Communications Research from the Joseph Fourier University. Find him @fnapz.

## Index Ventures
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 2
- Stages: Series A, Series B, Seed
- Focus: Software, E-Commerce, Internet

Index Ventures is an international venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/AI, and security.

## Buysse & Partners
- Type: VC Fund
- Location: Antwerpen, Antwerpen, Belgium
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Software, Cloud Computing, FinTech

Buysse and Partners is a private equity investment group based in Antwerpen that offers smart equity, a growth fund, and partnerships.

## invest.bw
- Type: VC Fund
- Location: Louvain-la-neuve, Vlaams-Brabant, Belgium
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Biotechnology, Manufacturing, Farming

invest.bw is a venture capital firm.

## Knife Capital
- Type: VC Fund
- Location: Cape Town, NA - South Africa, South Africa
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Software, Education, Manufacturing

Knife Capital is an independent growth equity investment firm focusing on innovation-driven ventures with proven traction. By leveraging knowledge, networks & funding, Knife accelerates the international expansion of entrepreneurial businesses that achieved a product/market fit in a beachhead market. Knife have offices in Cape Town andLondon.Knife invests via a consortium of funding partnerships, including SARS section 12J Venture Capital Company KNF Ventures and select family offices. Knife facilitated lucrative exits of local technology companies to the likes of General Electric, Visa, Garmin and Uber.

## Bloc Ventures
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Internet of Things, Financial Services

Bloc is a specialist deep tech investor. We back ambitious entrepreneurs building products across cloud, connectivity, data science and security with the potential to impact whole industries.

## 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.

## LRM
- Type: VC Fund
- Location: Hasselt, Limburg, Belgium
- Relevant deals: 2
- Stages: Seed
- Focus: Manufacturing, Drones, Sensor

Oxygen for growth - LRM

## The CoFoundry
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, SaaS, Security

The CoFoundry helps entrepreneurs transform their ideas into sustainable companies. Some say we cut through the funding hype and work hard to give your business a sustainable future.

## QBIC II
- Type: VC Fund
- Relevant deals: 2
- Stages: Series B, Series A
- Focus: Biotechnology, Industrial, Construction

QBIC II

## Harold Mechelynck
- Type: Angel
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: FinTech, Finance, SaaS

Harold Mechelynck is Founder at Ogone.

## Capricorn Partners
- Type: VC Fund
- Location: Leuven, Vlaams-Brabant, Belgium
- Relevant deals: 2
- Stages: Series A, Series B
- Focus: Biotechnology, Health Care, Software

Capricorn Partners is a unique independent manager of venture capital, growth capital and quoted equity funds

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

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

## 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.

## Namur Invest
- Type: VC Fund
- Location: Namur, Namur, Belgium
- Relevant deals: 2
- Stages: Series A, Seed, Grant
- Focus: Health Care, Medical Device, Auctions

Namur Invest Group provides companies with financing solutions in various forms adapted to their needs, to strengthen their financial.

## Fidimec
- Type: VC Fund
- Location: Leuven, Vlaams-Brabant, Belgium
- Relevant deals: 2
- 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.

## Noshaq
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series B
- Focus: Manufacturing, Medical Device, Battery

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

## Greyhound Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 2
- Stages: Series B, Seed, Series D
- Focus: Financial Services, FinTech, Banking

Global growth equity investment firm focused on technology-enabled businesses improving everyday lives

## SmartFin
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 2
- Stages: Series B, Series A
- Focus: Software, SaaS, Information Technology

Venture capital fund focussing on European B2B technology companies.

## Bertrand Jelensperger
- Type: Angel
- Location: Paris, Ile-de-France, France
- Relevant deals: 2
- Stages: Seed, Series A, Angel
- Focus: Apps, Software, E-Commerce

Bertrand Jelensperger is the Co-Founder and Advisory Board at TheFork.

## imec.istart Future Fund
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Health Care, Medical Device, Satellite Communication

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.

## SFPIM
- Type: VC Fund
- Location: Brussel, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Series A, Series C
- Focus: Biotechnology, PaaS, SaaS

SFPIM investment firm that invests in technology and infrastructure.

## Rockley Group
- Type: VC Fund
- Location: Oxford, Oxfordshire, United Kingdom
- Relevant deals: 1
- Stages: Seed
- Focus: Medical, Electronics, Health Care

Our motivation is to build valuable companies that contribute to global sustainability and the improvement of human well-being.

## Future Positive Capital
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Health Care, Artificial Intelligence, Wellness

Future Positive Capital is an investment firm that invests in deep tech companies. Future Positive Capital backs companies that use advances in artificial intelligence, synthetic biology, genetics, and other deep technologies to solve the world's most pressing challenges such as sustainably feeding the world’s growing population, combatingclimate change, and serving the aging population.

## SIDBI Venture Capital
- Type: VC Fund
- Location: Mumbai, Maharashtra, India
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Manufacturing, Information Technology, Software

SIDBI Venture Capital is a venture capital arm of Small Industries Development Bank of India.

## Mudcake
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Food and Beverage, Biotechnology, Information Technology

Mudcake is a microfund run by ex-founders dedicated to making the world a better place for the next generation.

## SHIGERU AG
- Type: VC Fund
- Location: Princeton, New Jersey, United States
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Natural Language Processing, Virtual Reality, Blockchain

SHIGERU AG is a technology company that leverages technological innovation to enable a new way of life.

## Sensinnovat
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Medical, Diabetes, Health Care

Sensinnovat

## Matthias Geeroms
- Type: Angel
- Relevant deals: 1
- Stages: Pre-Seed, Seed
- Focus: Software, Artificial Intelligence, CRM

Matthias Geeroms Co-Founded Social Significance Ltd. in 2012 and serves as its Chief Financial Officer. Matthias Geeroms has a background in finance and legal. Prior to founding OTA Insight he worked with different multinational Fortune 500 companies auditing their business and transfer pricing setup. He is in charge of all customer billing, legaland compliance activities.

## Korys
- Type: VC Fund
- Location: Halle, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Biotechnology, Information Technology, Renewable Energy

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.

## Saffelberg Investments
- Type: VC Fund
- Location: Gooik, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Software, Fashion, E-Commerce

Saffelberg Investments is an independent investment company with a 250 million EUR capital base. We focus on long term investments by taking both majority stakes and substantial minorities in fast-growing ventures through risk-bearing capital.

## Exor Ventures
- Type: VC Fund
- Location: Amsterdam, Noord-Holland, The Netherlands
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Health Care, Information Technology

Exor Ventures is the venture capital arm of Exor, one of Europe's largest diversified holding companies. Exor Ventures focuses on early and growth-stage investments in technology-driven companies across various sectors, including digital services, fintech, cybersecurity, and mobility. Exor Ventures leverages its strategic insights and globalnetwork to identify promising startups with disruptive potential and supports them through funding, mentorship, and access to its extensive resources. EXOR Seeds offers a truly different type of partnership to the select group of entrepreneurs that it backs:- As a fifth-generation family-led business, we proved that we are builders not traders;- Our permanent capital allows us to take a long-term view and put the interest of the companies We invest in first;- Our global network, across industries and geographies, is a unique advantage to entrepreneurs

## Paladin
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 1
- Stages: Series A
- Focus: Health Care, Manufacturing, Pharmaceutical

Paladin is an investment firm that provides asset management, investment management and consulting services.

## Takeda Ventures
- Type: VC Fund
- Location: San Diego, California, United States
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Biotechnology, Health Care, Therapeutics

Takeda Ventures, Inc. (TVI) is the corporate investment arm of Takeda Pharmaceutical Company Limited (TPC). TVI was founded in 2001 and invests in current and future areas of interest for TPC. They are based alongside Takeda’s R&D sites in Cambridge, MA, and San Diego, CA. As a strategic investor, TVI aims to provide support and guidance toentrepreneurs and early-stage companies driving concepts through clinical proof of concept. They also strive to forge active, collaborative interactions that result in synergies with Takeda's considerable R&D resources. Their goal is to build a portfolio of strategic investments, with an immediate emphasis on oncology, gastroenterology, neuroscience, and rare diseases.

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