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Top 50 Medical VC Funds & Investors in Belgium (October 2026)

The most active venture capital funds investing in Belgium Medical startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Belgium Medical startup companies. Find investors to raise a Seed, Series A or Series B round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Meusinvest (Noshaq)
VC Fund
15 Belgium, France, Germany Series A, Seed, Venture - Series Unknown Biotechnology, Health Care, Medical $137k–$16M
V-Bio Ventures
VC Fund
6 Belgium, France, United States Series A, Series B, Seed Biotechnology, Health Care, Therapeutics $3.1M–$88M
Qbic Fund
VC Fund
6 Belgium, France, The Netherlands Seed, Series A, Venture - Series Unknown Biotechnology, Software, Health Care $1.4M–$34M
Limburgse Reconversie Maatschappij
VC Fund
6 Belgium, The Netherlands, United States Seed, Venture - Series Unknown Information Technology, Software, Biotechnology $658k–$11M
Capricorn Partners
VC Fund
6 Belgium, The Netherlands, United States Series A, Series B Biotechnology, Health Care, Software $3.3M–$45M
GoBeyond
VC Fund
5 Switzerland, Germany, United Kingdom Seed, Venture - Series Unknown, Series A Software, Health Care, Information Technology $495k–$5.1M
Newton Biocapital
VC Fund
5 Belgium, Japan, France Series A, Venture - Series Unknown, Seed Biotechnology, Medical, Pharmaceutical $1.3M–$84M
Fund+
VC Fund
4 Belgium, United States, Spain Series A, Series B, Series C Biotechnology, Health Care, Therapeutics $11M–$401M
Mérieux Equity Partners
VC Fund
4 France, United States, Spain Series A, Private Equity, Venture - Series Unknown Health Care, Biotechnology, Medical $5.7M–$150M
Gemma Frisius Fund
VC Fund
4 Belgium, France, United Kingdom Seed, Series A, Series B Biotechnology, Medical, Software $500k–$84M
White Fund
VC Fund
4 Belgium, United States Seed, Series A, Venture - Series Unknown Health Care, Medical, Medical Device $4.1M–$12M
S.R.I.W.
VC Fund
4 Belgium, United States, Spain Venture - Series Unknown, Series A Health Care, Biotechnology, Manufacturing $422k–$32M
PMV
VC Fund
3 Belgium, United States, The Netherlands Seed, Series A, Series B Software, Biotechnology, Health Care $1M–$43M
Volta Ventures
VC Fund
3 Belgium, The Netherlands, United States Seed, Series A, Pre-Seed Software, Information Technology, SaaS $850k–$8.8M
WING by Digital Wallonia
VC Fund
3 Belgium Seed, Convertible Note, Series A Software, Health Care, SaaS $61k–$12M
Sambrinvest
VC Fund
3 Belgium, France, Spain Seed, Series A, Series B Biotechnology, Health Care, Medical $544k–$49M
Crédit Mutuel Innovation
VC Fund
3 France, United States, Belgium Series A, Venture - Series Unknown Software, Health Care, Biotechnology $2.4M–$26M
Buysse & Partners
VC Fund
2 Belgium, United Kingdom, The Netherlands Series A, Seed, Venture - Series Unknown Software, Cloud Computing, FinTech $1.1M–$11M
Inventures SA
VC Fund
2 Belgium, France, United Kingdom Series A, Seed, Series B Health Care, Software, Biotechnology $67k–$21M
Omnes Capital
VC Fund
2 France, Germany, United States Series A, Series B, Venture - Series Unknown Biotechnology, Software, Health Care $3.8M–$53M
VIB
VC Fund
2 Belgium, Brazil, Denmark Series A, Series B, Seed Biotechnology, Health Care, Therapeutics $3.1M–$84M
KBC
VC Fund
2 Belgium, United States, The Netherlands Seed, Series A, Pre-Seed Biotechnology, Health Care, Software $425k–$65M
Forbion Capital Partners
VC Fund
2 United States, United Kingdom, The Netherlands Series A, Series B, Series C Biotechnology, Health Care, Medical $16M–$180M
Debiopharm Innovation Fund
VC Fund
2 United States, Switzerland, France Series A, Seed, Pre-Seed Health Care, Biotechnology, Software $317k–$25M
New Science Ventures
VC Fund
2 United States, United Kingdom, Belgium Series B, Series A, Series D Biotechnology, Health Care, Medical $4M–$52M
Flanders Future Techfund
VC Fund
2 Belgium, The Netherlands Seed, Series A, Venture - Series Unknown Medical, Biotechnology, Clinical Trials $2.7M–$30M
Spinventure
VC Fund
2 Belgium Series A, Seed, Venture - Series Unknown Biotechnology, Health Care, Medical $794k–$15M
Dental Innovation Alliance
VC Fund
2 United States, Belgium, Germany Seed, Series A Dental, Health Care, Software $1.8M–$5.5M
BioGeneration Ventures
VC Fund
2 The Netherlands, United States, Belgium Series A, Seed Biotechnology, Therapeutics, Health Care $1.1M–$86M
BAN Vlaanderen
VC Fund
2 Belgium Seed, Series A Health Care, Medical, Apps $263k–$1.9M
Be Angels
VC Fund
2 Belgium, France, Luxembourg Seed, Pre-Seed, Venture - Series Unknown SaaS, Software, Information Technology $78k–$1.5M
Noshaq
VC Fund
2 Belgium Series A, Venture - Series Unknown Medical, Analytics, Health Care
Investsud
VC Fund
2 Belgium, France Series A, Seed, Series B Biotechnology, Medical, Health Care $546k–$29M
Thuja Capital
VC Fund
2 The Netherlands, Belgium, United States Series A, Seed Biotechnology, Medical, Health Care
Andera Partners
VC Fund
1 France, United States, Germany Series B, Private Equity Biotechnology, Health Care, Medical
BNP Paribas Fortis
VC Fund
1 Belgium, United States, Germany Debt Financing, Series B Biotechnology, Logistics, Pharmaceutical
TCD Capital (ex TheClubDeal)
VC Fund
1 Belgium, France Series A, Series B, Seed Health Care, Biotechnology, Information Technology
Delta Partners
VC Fund
1 Ireland, United States, United Kingdom Seed, Series A Software, Information Technology, Health Care
Quest for Growth
VC Fund
1 Belgium, France, The Netherlands Series B, Series C Biotechnology, Hardware, Software
Wellington Partners
VC Fund
1 Germany, United States, United Kingdom Series A, Series B Health Care, Biotechnology, Medical
Sofinnova Investments
VC Fund
1 United States, France, Switzerland Series B, Series A, Series C Biotechnology, Health Care, Pharmaceutical
Ifoghas Investments
VC Fund
1 Belgium Series A Medical, Health Care, Life Science
SoFi
VC Fund
1 United States, Belgium, Brazil Seed, Series A, Venture - Series Unknown Software, FinTech, Blockchain $500k–$25M
Fidimec
VC Fund
1 Belgium Seed, Series A Industrial, Semiconductor, Medical $2.2M–$7.7M
Manuardeo
VC Fund
1 Belgium Series A, Series B Medical, Diabetes, Health Care
Carevolution
VC Fund
1 Belgium, United States Seed Health Care, Medical Device, Medical $1.2M–$4.5M
Allegro Investment Fund
VC Fund
1 Belgium, United States, The Netherlands Series A, Series B Software, Hardware, Apps
Ark Angels Activator Fund
VC Fund
1 Belgium Series A, Seed Software, Information Technology, SaaS
Sofinnova Partners
VC Fund
1 France, United States, United Kingdom Series A, Series B, Series C Biotechnology, Health Care, Medical
Hunza Ventures
VC Fund
1 Belgium, United States Series A Medical, Health Care, Biotechnology
Access all 165 VC funds in Belgium Medical startups.

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

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Investor list

Meusinvest (Noshaq)
VC Fund · Liège, Liege, Belgium · 15 investments in Belgium Medical startups

Noshaq offers financial services to help businesses develop.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Seed, Venture - Series Unknown
  • Geography: Belgium, France, Germany

Investor stats

  • Total investments: 82
  • Round size: Seed $137k–$6M; Series A $3.6M–$16M; Venture - Series Unknown $2M–$16M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Le Fourgon — Le Fourgon provides contained drinks for home delivery. They offer milk, water, beer, wine, fruit juice, and sodas. They allow customers to have their drinks delivered free of charge during the day.
  • Allegro Biotech — Allegro has developed the world’s-first custom-tailored, durable, biocompatible, anisotropic, regenerative meniscus cartilage, providing immediate support while also leverage the body’s own healing potential to regenerate human cartilage (proliferation and differentiation of fibrochondrocyte cells).
  • Amyl Therapeutics — Amyl Therapeutics is a preclinical stage biotechnology company. Amyl Therapeutics uses a novel mechanism to bind to the amyloid fold of toxic protein aggregates of various types, including antibody light chain (AL) or transthyretin (TTR) aggregates, which accumulate in peripheral organs to cause systemic amyloidosis diseases, but also amyloid-β(Aβ), Tau, and α-synuclein aggregates, which accumulate in the brain to cause Alzheimer's and Parkinson's diseases.
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V-Bio Ventures
VC Fund · Gent, Oost-Vlaanderen, Belgium · 6 investments in Belgium Medical startups

V-Bio Ventures is an independent venture capital firm specialized in building and financing young, innovative life science companies. The fund invests throughout Europe in start-up and early-stage companies with high growth potential focusing on technologies that provide transformational improvements in the biotech, pharmaceutical and agriculturalsectors.

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Investment focus

  • Industry: Biotechnology, Health Care, Therapeutics
  • Stage:Series A, Series B, Seed
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 45
  • Round size: Seed $3.1M–$50M; Series A $6.9M–$70M; Series B $12M–$88M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — raised $131M in 2021

Portfolio highlights

  • Animab — Animal Health Company
  • RootWave — RootWave is an electronics company that develops tools that kill weeds it enables farmers to control weeds on their farm. Its technology is an alternative substitute for herbicides and other weed control chemicals. The company was founded in 2012 and headquartered in Warwickshire, United Kingdom.
  • Step Pharma — Step Pharma is a spin-off of Imagine Institute stemming from Pr. Alain Fischer’s research on genetic immunodeficiencies. Step Pharma is a joint venture between Imagine, a research and innovative healthcare institute, Sygnature Discovery, a leading provider of integrated drug discovery resource and expertise, and Kurma Partners, a major player inthe funding of healthcare and biotechnology in Europe.
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Qbic Fund
VC Fund · Belgium, Wisconsin, United States · 6 investments in Belgium Medical startups

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.

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Investment focus

  • Industry: Biotechnology, Software, Health Care
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, France, The Netherlands

Investor stats

  • Total investments: 62
  • Round size: Seed $1.4M–$7.4M; Series A $1.6M–$34M; Venture - Series Unknown $2.2M–$9.4M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $54M in 2022

Portfolio highlights

  • Firecell — Firecell is a Telecommunications Industry.
  • Eyeo — eyeo revolutionizes imaging with color splitter sensors. Capture sharper, brighter images in low light using optical waveguide innovation, discover how it works
  • Sightera Biosciences — Patient-derived organoids of treatment-resistant disease, robotic screening at scale and AI-guided molecular design in one closed loop.
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Limburgse Reconversie Maatschappij
VC Fund · Hasselt, Limburg, Belgium · 6 investments in Belgium Medical 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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Capricorn Partners
VC Fund · Leuven, Vlaams-Brabant, Belgium · 6 investments in Belgium Medical startups

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

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Series A, Series B
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 121
  • Round size: Series A $3.3M–$18M; Series B $5.3M–$45M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely actively investing — fresh fund, raised $53M in 2025

Portfolio highlights

  • Endo Tools Therapeutics — Endo Tools Therapeutics is dedicated to the development of innovative devices that provide therapeutic interventions for gastric conditions
  • Delft Advanced Biorenewables — We enable the bio-economy by improving the productivity of fermentations with our in-situ product recovery (ISPR) technology.
  • Trillium Renewable Chemicals — Trillium Renewable Chemicals manufactures chemicals from renewable feedstocks used in a variety of industrially important applications. The company was founded in 2021 and based in Knoxville, Tennessee.
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GoBeyond
VC Fund · Zürich, Zurich, Switzerland · 5 investments in Belgium Medical startups

GoBeyond is a FinTech company transforming angel investing into a new scalable asset class for small and large, novice to experienced investors. It offers a unique deal platform, portfolio tools, syndication/pooling, due diligence, investment monitoring services, training and certified deal leaders.Its clients are individuals, familyoffices, professional groups and corporations. It is active in the EU, Switzerland and the US. GoBeyond also offers educational training modules for angel investors in 11 categories.

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Investment focus

  • Industry: Software, Health Care, Information Technology
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Switzerland, Germany, United Kingdom

Investor stats

  • Total investments: 196
  • Round size: Seed $495k–$5M; Series A $1.2M–$4.5M; Venture - Series Unknown $681k–$5.1M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • LEND — LEND provides peer to peer lending in Switzerland. It connects investors with borrowers. Moreover, investors earn substantial returns and borrowers benefit from low interest rates. The company is based in Switzerland and it was founded in 2015.
  • LockStyler — LockStyler is providing a revolutionary, professional hair highlighting system which is much simpler, cleaner and quicker by 50% than anything existing
  • Blumer — Blumer is a social networking platform that provides social networks that can monetize time by consuming advertisements, selling nfts, and making crypto transactions. It offers social networks, crypto, digital marketing, and blockchain.
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Newton Biocapital
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 5 investments in Belgium Medical startups

Our mission is to mature innovation and support the growth of our portfolio companies to create value for patients, society, local ecosystems, and investors.

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Investment focus

  • Industry: Biotechnology, Medical, Pharmaceutical
  • Stage:Series A, Venture - Series Unknown, Seed
  • Geography: Belgium, Japan, France

Investor stats

  • Total investments: 22
  • Round size: Seed $2.9M–$3.2M; Series A $6.1M–$84M; Venture - Series Unknown $1.3M–$20M
  • Lead/follow: 68% lead, 32% follow
  • Last fund: Likely still investing — raised $57M in 2022

Portfolio highlights

  • Bioxodes — Bioxodes is a clinical-stage biopharmaceutical company dedicated to the development of novel therapeutics to prevent thrombotic events without hemorrhagic risk.
  • Tensegrity Pharma — Tensegrity Pharma is the developer of a novel drug designed to minimize bottlenecks and provide innovative value to patients.
  • Augustine Therapeutics — Augustine Therapeutics is developing selective, safe and efficacious HDAC6 inhibitors designed for treatment of neuromuscular, neurodegenerative and cardiometabolic diseases. Discover our pipeline poised for clinical impact.
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Fund+
VC Fund · Leuven, Vlaams-Brabant, Belgium · 4 investments in Belgium Medical startups

Fund+ is a venture capital firm that invests in companies operating in the diagnostics, therapeutics, medical devices, and life science sectors. The firm wants to create sustainable shareholders' value, contribute to the development of a leadership position in the life sciences sector, and generate a tangible, beneficial societal impact.Fund+ was established in 2015 and is based in Leuven, Belgium.

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Investment focus

  • Industry: Biotechnology, Health Care, Therapeutics
  • Stage:Series A, Series B, Series C
  • Geography: Belgium, United States, Spain

Investor stats

  • Total investments: 35
  • Round size: Series A $12M–$47M; Series B $22M–$125M; Series C $11M–$401M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Ona Therapeutics — Ona Therapeutics is a biotech company that specializes in the discovery and development of therapeutic biologics targeting tumor metastatic-initiating cells and lipid metabolism. Founded in 2019 by Salvador Aznar-Benitah and Valerie Vanhooren, it was a spin-off from ICREA and Advanced Studies, and the IRB Institute for Research in Biomedicine.
  • Novadip Biosciences — Novadip Biosciences, an advanced biopharmaceutical company focused on new generation of therapies from adipose stem cells adapted to hard and soft tissues reconstruction.
  • TargED Biopharmaceuticals — TargED Biopharmaceuticals is a biotechnology company that develops first-in-class biological drugs to improve treatment of thrombosis.TargED stands for Targeted Enzyme Delivery. Their biological drugs are unique by using small antibodies (“VhH”) to deliver enzymes to sites of thrombosis, enabling ‘targeted’ thrombolysis.
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Mérieux Equity Partners
VC Fund · Lyon, Rhone-Alpes, France · 4 investments in Belgium Medical startups

Mérieux Equity Partners (“MxEP”) is a management company dedicated to venture, growth and LBO investments in the healthcare and nutrition sectors. MxEP actively supports entrepreneurs and industrial companies with differentiated products and services, by providing privileged access to its expertise and international network. MxEP currently managesmore than €600m AUM and has recently launched a new vehicle MP3 of €350m dedicated to growth/LBO.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series A, Private Equity, Venture - Series Unknown
  • Geography: France, United States, Spain

Investor stats

  • Total investments: 54
  • Round size: Series A $5.7M–$23M; Private Equity $23M–$150M; Venture - Series Unknown $12M–$90M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely actively investing — fresh fund, raised $383M in 2026

Portfolio highlights

  • HighLife — HighLife is driven by a mission to deliver innovative treatment options to patients suffering from heart valve diseases.
  • Ona Therapeutics — Ona Therapeutics is a biotech company that specializes in the discovery and development of therapeutic biologics targeting tumor metastatic-initiating cells and lipid metabolism. Founded in 2019 by Salvador Aznar-Benitah and Valerie Vanhooren, it was a spin-off from ICREA and Advanced Studies, and the IRB Institute for Research in Biomedicine.
  • Amyl Therapeutics — Amyl Therapeutics is a preclinical stage biotechnology company. Amyl Therapeutics uses a novel mechanism to bind to the amyloid fold of toxic protein aggregates of various types, including antibody light chain (AL) or transthyretin (TTR) aggregates, which accumulate in peripheral organs to cause systemic amyloidosis diseases, but also amyloid-β(Aβ), Tau, and α-synuclein aggregates, which accumulate in the brain to cause Alzheimer's and Parkinson's diseases.
Show all investments...

Gemma Frisius Fund
VC Fund · Leuven, Vlaams-Brabant, Belgium · 4 investments in Belgium Medical startups

Gemma Frisius Fund KU Leuven is a seed capital fund that aims to stimulate the creation and growth of university related spin-off companies.

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Investment focus

  • Industry: Biotechnology, Medical, Software
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, France, United Kingdom

Investor stats

  • Total investments: 41
  • Round size: Seed $500k–$4.7M; Series A $1.1M–$84M; Series B $4.7M–$24M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • Runeasi — The first scientifically validated wearable solution to measure impact while running and detect how your body responds to it - Perform real-time biomechanical assessments - Guide your athletes and patients with actionable insights to help them run more efficiently and recover from injuries with confidence
  • Optiflux — Optiflux automatiseert het bewaarbeheer van vers fruit met slimme AI & vision-technologie. Minder verlies, meer winst voor teler & handelaar.
  • Aspect Analytics — Beyond bioinformatics. Building intelligent platform solutions for mass spectrometry imaging data analysis. #AI4MSI
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Access 48,091 investors

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

Browse database — It's Free!
White Fund
VC Fund · 4 investments in Belgium Medical startups

For game changers in medtech

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Investment focus

  • Industry: Health Care, Medical, Medical Device
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, United States

Investor stats

  • Total investments: 12
  • Round size: Seed $4.1M–$11M; Series A $5.3M–$12M; Venture - Series Unknown $5.5M–$11M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — raised $22M in 2019

Portfolio highlights

  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • Minze Health — Minze Health is a health tech start-up that builds creative digital health solutions for urology, pelvic health, and (in)continence care.
  • Clouds of care — Increasing your probability of success through the adoption of meaningful endpoints, starting from electrophysiology.
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S.R.I.W.
VC Fund · Liège, Liege, Belgium · 4 investments in Belgium Medical startups

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.

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Investment focus

  • Industry: Health Care, Biotechnology, Manufacturing
  • Stage:Venture - Series Unknown, Series A
  • Geography: Belgium, United States, Spain

Investor stats

  • Total investments: 111
  • Round size: Series A $422k–$32M; Venture - Series Unknown $2.7M–$27M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Univercells — Mix parlay, atau lebih dikenal sebagai parlay bola atau hanya parlay, merupakan taruhan judi bola online yang menggabungkan minimal 2 hingga 10 tim pertandingan sepak bola menjadi 1 tiket taruhan.
  • Intressa Vascular — Intressa Vascular provides innovative solutions to address life-threatening cardiovascular conditions such as aortic dissection.
  • Santero Therapeutics — This is the homepage of the website
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PMV
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Belgium Medical startups, 9 in the past 12 months

Do and dare company

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Investment focus

  • Industry: Software, Biotechnology, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, United States, The Netherlands

Investor stats

  • Total investments: 160
  • Round size: Seed $1M–$4M; Series A $3M–$40M; Series B $6.6M–$43M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Logibot — Software platform to deploy human-like robotic labor in existing warehouses, without vendor lock-in.
  • Biotalys — Biotalys is an Agricultural Technology (AgTech) company that employs its proprietary Agrobody technology platform to develop crop and food protection products. The company develops a new generation of protein-based biocontrol solutions, shaping the future of sustainable and safe food supply. Biotalys' unique protein-based biocontrols combinethe high-performance characteristics of chemicals with the clean safety profile of biologicals, making them ideal crop protection agents for both pre- and post-harvest applications.It was incorporated in 2013 and is based in the Biotech hub in Ghent, Belgium.
  • Borro — Cashless deposit system
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Volta Ventures
VC Fund · Gent, Oost-Vlaanderen, Belgium · 3 investments in Belgium Medical startups

Volta Ventures backs ambitious B2B software founders in the Benelux with early-stage capital, strategic guidance and long-term support.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 92
  • Round size: Seed $850k–$5.2M; Pre-Seed $1M–$1.3M; Series A $2.2M–$8.8M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: Likely actively investing — fresh fund, raised $22M in 2025

Portfolio highlights

  • Kyvvu — Kyvvu is an Agent Security Kernel (ASK): an in-process security layer that checks every action an AI agent takes — against the full path of the task so far — and allows, warns, or blocks it before it runs, deterministically, in under a millisecond, without your data ever leaving your environment.
  • Ringtime — Make more placements with the same team. The AI screening agent that reaches frontline candidates via WhatsApp and phone, in 22+ languages.
  • Quadric — quadric.io is a Burlingame, CA-based processor technology company. The q16 Processor is the most comprehensive AI processor that handles any AI and high-performance edge workload.
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WING by Digital Wallonia
VC Fund · Liège, Liege, Belgium · 3 investments in Belgium Medical startups

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).

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Investment focus

  • Industry: Software, Health Care, SaaS
  • Stage:Seed, Convertible Note, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 37
  • Round size: Seed $377k–$1.9M; Series A $1.1M–$12M; Convertible Note $61k–$570k
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • IONNYK — Discover IONNYK, the ePaper Digital Art Frame for art and personal photography, combining Electronic Paper (E Ink), patented technology and elegant home design.
  • MYOCENE — Myocene is a Liège-based sports technology company which creates unique and innovative devices for measuring muscle fatigue and performance.
  • Soil Capital Belgium — Discover Europe's first certified, multi-national carbon farming programme that rewards regenerative agriculture.
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Sambrinvest
VC Fund · Gosselies, Hainaut, Belgium · 3 investments in Belgium Medical startups

Sambrinvest is an active venture capital player in the region of Charleroi - Thuin.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, France, Spain

Investor stats

  • Total investments: 41
  • Round size: Seed $544k–$24M; Series A $1M–$49M; Series B $4.4M–$45M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Brenus Pharma — Brenus Pharma develops off-the-shelf, next-generation in vivo immunotherapies designed to unlock the immune response against solid tumors.
  • Vertical Compute — Vertical Compute offers chiplet-based technology that cuts data movement to achieve up to 80% energy savings.
  • Novadip Biosciences — Novadip Biosciences, an advanced biopharmaceutical company focused on new generation of therapies from adipose stem cells adapted to hard and soft tissues reconstruction.
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Crédit Mutuel Innovation
VC Fund · Paris, Ile-de-France, France · 3 investments in Belgium Medical startups

Crédit Mutuel Innovation is the evergreen venture capital entity of Crédit Mutuel Equity (€3.5 billion in capital). We invest €1-20M in life science, digital and deeptech companies from seed to growth stages.We help bold and ambitious entrepreneurs to develop their strong growth potential with our worldwide enterprise ecosystem (our 350+portfolio companies, our abroad subsidiaries, 150+ largest global corporates and the best-in-class experts). Because it takes more than 5 years to build a Unicorn, we invest our own equity and ensure durable partnerships with visionary leaders.Today, the 350 companies in which we have invested generate a cumulative annual turnover of €50bn and create more than 250,000 jobs.

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Investment focus

  • Industry: Software, Health Care, Biotechnology
  • Stage:Series A, Venture - Series Unknown
  • Geography: France, United States, Belgium

Investor stats

  • Total investments: 109
  • Round size: Series A $3.4M–$26M; Venture - Series Unknown $2.4M–$24M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • e-peas — Discover e-peas, pioneer of the Ambient IoT concept since 2014, which offers the most efficient energy harvesting pmics on the market to make your devices more energy self-sufficient: AEMs.
  • Ever Dye — A new standard for dyes. Naturally made, carbon emissions reducing, water protecting.
  • Standing Ovation — Animal-free dairy cheese
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Buysse & Partners
VC Fund · Antwerpen, Antwerpen, Belgium · 2 investments in Belgium Medical startups

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

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Investment focus

  • Industry: Software, Cloud Computing, FinTech
  • Stage:Series A, Seed, Venture - Series Unknown
  • Geography: Belgium, United Kingdom, The Netherlands

Investor stats

  • Total investments: 6
  • Round size: Seed $1.1M–$1.9M; Series A $4M–$11M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — raised $25M in 2012

Portfolio highlights

  • Twikit — Deliver unforgettable customer experiences with real time 3D product configurators, linked to your existing order and manufacturing flows.
  • Bluebee — Delivering a streamlined way for users to analyze, explore, and manage large-scale genomics data in the cloud.
  • moonbird — Hold moonbird in your hand and breathe along. A tactile, screen-free breathing coach trusted by 80,000+ users for less stress, better sleep, and more calm.
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Inventures SA
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Medical startups

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.

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Investment focus

  • Industry: Health Care, Software, Biotechnology
  • Stage:Series A, Seed, Series B
  • Geography: Belgium, France, United Kingdom

Investor stats

  • Total investments: 51
  • Round size: Seed $67k–$2.1M; Series A $422k–$14M; Series B $165k–$21M
  • Lead/follow: 8% lead, 92% follow
  • Last fund: May invest from a new fund soon — last raise in 2016

Portfolio highlights

  • BiOceanOr — BiOceanOr harnessed the power of Marine Biology and AI to deliver bio-guided services that optimize fish welfare and fish growth, while supporting aquaculture sustainability standards
  • myskillcamp — Myskillcamp is a digital learning platform and educational design support service. Myskillcamp supports their customers in the digital transformation of their company and the launch of their Digital Learning project. From the audit of needs to the design of engaging educational devices, through a pilot phase, they make a point of honor to adapt thedigital to the specificities of each and give it meaning.With their online platform, businesses can manage their learner communities and connect all their partners in one place. Their tool also allows businesses to structure training spaces by skills, trades, brands within camps. In parallel, businesses can create educational content from scratch, select a map in their marketplace, or plan sessions in-class. Businesses can organize the distribution of their training to a single learner or to a whole group.
  • Octave — Optimize energy use with Octave's battery storage (BESS) and energy management system (EMS). Reduce costs, increase flexibility.
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Omnes Capital
VC Fund · Paris, Ile-de-France, France · 2 investments in Belgium Medical startups

Omnes Capital takes a unique approach to renewable energy, transforming developers into independent power producers to provide green energy to millions.

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Investment focus

  • Industry: Biotechnology, Software, Health Care
  • Stage:Series A, Series B, Venture - Series Unknown
  • Geography: France, Germany, United States

Investor stats

  • Total investments: 186
  • Round size: Series A $4.3M–$41M; Series B $4.4M–$53M; Venture - Series Unknown $3.8M–$46M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: Likely actively investing — fresh fund, raised $132M in 2025

Portfolio highlights

  • Adictiz — Adictiz, a French company founded in 2009 by Charles Christory, develops and publishes social games for the web and mobile phones.With successful brands including “Space Dog” and “What a Stupid Pigeon”, which attract close to 2.5 million players every month, Adictiz has established itself as an expert player in social and mobile gaming.Basedat the EuraTechnologies economic excellence hub in Lille, which is dedicated to serving information and communication technology companies, Adictiz set up Adictiz Studio in late 2011, which specialises in the creation of customised social games for brands. Adictiz Studio was recently selected by Facebook as a PMD (Preferred Marketing Developer).
  • Complix — Complix is a biopharmaceutical company focused on the discovery and development of Alphabodiesâ„¢, a novel class of biopharmaceuticals that offer significant advantages over existing protein based therapies. Alphabodiesâ„¢ bind with high affinity to a wide range of disease targets and are particularly suited to address certain targets that aredifficult to reach with antibodies or other types of protein scaffolds. Due to their unique stability and versatility Alphabodiesâ„¢ can be delivered via alternative non-injectable routes of administration, unlike most therapeutic proteins.
  • EnduroSat — Enabling profitable LEO satellite constellations with standardized satellites and fixed-cost space service. 100+ satellites deployed to orbit
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VIB
VC Fund · Gent, Oost-Vlaanderen, Belgium · 2 investments in Belgium Medical startups

Strategic research in on life sciences and biotechnology

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Investment focus

  • Industry: Biotechnology, Health Care, Therapeutics
  • Stage:Series A, Series B, Seed
  • Geography: Belgium, Brazil, Denmark

Investor stats

  • Total investments: 28
  • Round size: Seed $3.1M–$11M; Series A $6.8M–$84M; Series B $4.7M–$65M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Biotalys — Biotalys is an Agricultural Technology (AgTech) company that employs its proprietary Agrobody technology platform to develop crop and food protection products. The company develops a new generation of protein-based biocontrol solutions, shaping the future of sustainable and safe food supply. Biotalys' unique protein-based biocontrols combinethe high-performance characteristics of chemicals with the clean safety profile of biologicals, making them ideal crop protection agents for both pre- and post-harvest applications.It was incorporated in 2013 and is based in the Biotech hub in Ghent, Belgium.
  • MRM Health NV — MRM Health NV, is a biopharmaceutical company focused on the discovery and development of innovative therapeutics based on the human microbiome. MRM Health was incorporated early 2020 by MRM Technologies, a Center of Expertise for microbiome research based in the biotech cluster in Ghent, in a joint venture with the Flemish Institute ofBiotechnology (VIB), an excellence-based entrepreneurial life sciences research institute in Flanders, Belgium, that focuses on translating basic scientific results into pharmaceutical, agricultural and industrial applications.
  • Rainbow Crops — Rainbow Crops is a next-generation Agtech company developing climate-resilient, high-performing crop varieties.
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KBC
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 2 investments in Belgium Medical startups

KBC Private Equity - the investment company of KBC Group - provides development capital and finances buy-outs to medium-sized companies in Belgium and in Central and Eastern Europe, KBC's home markets.Boasting an experienced team of 28 people, it has more than 60 active investments in portfolio with a market value in excess of EUR 400million.KBC Private Equity aims to become one of the leading private equity providers on KBC Group's home markets. As an active shareholder with a long-term perspective, KBC Private Equity is involved in taking strategic decisions and providing support to management teams.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Belgium, United States, The Netherlands

Investor stats

  • Total investments: 37
  • Round size: Seed $529k–$8M; Pre-Seed $425k–$1.9M; Series A $3M–$65M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Qivalis — Qivalis is a financial technology company designed for payments, settlements, and financial services.
  • Octave — Optimize energy use with Octave's battery storage (BESS) and energy management system (EMS). Reduce costs, increase flexibility.
  • Ion Beam Applications — Ion Beam Applications is a Belgium-based company that develops and markets technologies, pharmaceutical products and tailored solutions for the healthcare sector, with emphasis on cancer diagnosis and therapy. IBA is also active in the sterilization and ionization field. The Company operates through two business segments, namely the pharmaceuticalssegment, which includes radiopharmaceuticals and the equipments segment, which encompasses proton therapy, particle accelerators and dosimetry.
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Forbion Capital Partners
VC Fund · Naarden, Noord-Holland, The Netherlands · 2 investments in Belgium Medical startups

Impacting the future of medicine.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Series B, Series C
  • Geography: United States, United Kingdom, The Netherlands

Investor stats

  • Total investments: 228
  • Round size: Series A $19M–$180M; Series B $16M–$155M; Series C $22M–$120M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: Likely actively investing — fresh fund, raised $606M in 2026

Portfolio highlights

  • Sling Therapeutics — Sling Therapeutics is a biopharmaceutical company focused on late-stage development for thyroid eye disease, aspiring to improve the lives of patients and their families.
  • Beacon Therapeutics — Beacon aids in restoring and improving the vision of patients with ophthalmic gene therapy. Find out more.
  • Lisata Therapeutics — Lisata is a clinical-stage pharmaceutical company dedicated to improving lives through the discovery, development, and commercialization of innovative medicines.
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Debiopharm Innovation Fund
VC Fund · Lausanne, Vaud, Switzerland · 2 investments in Belgium Medical startups

Debiopharm invests in Smart Data & Digital Health companies developing technologies that are applicable in the areas of oncology or infectious diseases

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Investment focus

  • Industry: Health Care, Biotechnology, Software
  • Stage:Series A, Seed, Pre-Seed
  • Geography: United States, Switzerland, France

Investor stats

  • Total investments: 48
  • Round size: Seed $943k–$6M; Pre-Seed $317k–$1.7M; Series A $3.5M–$25M
  • Lead/follow: 56% lead, 44% follow

Portfolio highlights

  • Octozi — AI agents that accelerate clinical development. Automate data cleaning, review, reconciliation, and reporting across your trials.
  • ModernVivo — Search millions of preclinical papers and extract experimental conditions in minutes. Design faster, better-powered in vivo studies with deterministic results.
  • MedaSystems — Streamline patient and provider inquiries for Expanded Access or Compassionate Use with secure, 21st Century Cures Act compliant, cloud software.
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New Science Ventures
VC Fund · New York, New York, United States · 2 investments in Belgium Medical startups

New Science Ventures is a venture capital firm that focuses on investments in life sciences and information technology companies. They invest in early and late stage companies taking novel scientific approaches to address significant unmet needs, while creating order-of-magnitude improvements in performances. The company also invests in companiesusing science-based innovations to address market needs in life sciences such as pharmaceuticals, biologics, medical devices, diagnostics, and IT. The team of the company expertise in strategy and corporate planning, operations and cost management, and leadership development.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series B, Series A, Series D
  • Geography: United States, United Kingdom, Belgium

Investor stats

  • Total investments: 92
  • Round size: Series A $4M–$49M; Series B $8M–$52M; Series D $5M–$38M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $24M in 2021

Portfolio highlights

  • Trellis Bioscience — Trellis Bioscience is developing native human antibodies to disrupt bacterial biofilms and address difficult-to-treat infections.
  • Novadip Biosciences — Novadip Biosciences, an advanced biopharmaceutical company focused on new generation of therapies from adipose stem cells adapted to hard and soft tissues reconstruction.
  • One Silicon Chip Photonics — Explore OSCP photonic and MEMS IMUs for GNSS-denied applications. Compare products, review integration resources, and contact our team about an evaluation.
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Flanders Future Techfund
VC Fund · 2 investments in Belgium Medical startups

Flanders Future Techfund operates as an investment firm.

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Investment focus

  • Industry: Medical, Biotechnology, Clinical Trials
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, The Netherlands

Investor stats

  • Total investments: 7
  • Round size: Seed $2.7M–$30M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • EDGX — EDGX, founded in 2023 in Ghent, is a Belgian Space Tech company developing high-speed edge computing units for satellites. Its NVIDIA-powered Sterna Computer and SpaceFeather software enable real-time, AI-driven on-orbit data processing for applications in communication, Earth observation, and intelligence.
  • Flindr Therapeutics — Immagene develops personalized cancer immunotherapies to fight multiple cancer type.
  • Clouds of care — Increasing your probability of success through the adoption of meaningful endpoints, starting from electrophysiology.
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Spinventure
VC Fund · Angleur, Liege, Belgium · 2 investments in Belgium Medical startups

Spinventure supports the creation of spin-off companies that aim to industrialize and commercialize the result of scientific research. Spinventure was born from a collaboration between MEUSINVEST and the University of Liège. It is headquartered in Angleur, Belgium.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Seed, Venture - Series Unknown
  • Geography: Belgium

Investor stats

  • Total investments: 7
  • Round size: Series A $794k–$15M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Dim3 — Improve patients outcome - Deliver actionable insights - Save healthcare costs
  • Cell Matters — Cell Matters specializes in cell therapy productivity, turning cryopreservation into a competitive advantage. It offers an integrated set of GMP services, in line with regulatory, quality, and GMP requirements of the cell therapy industry.
  • Convert Pharmaceuticals — Convert Pharmaceuticals develops prodrugs that are inert upon administration to patients, but transform into potent anti-cancer agents upon entering tumors.
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Dental Innovation Alliance
VC Fund · Raleigh, North Carolina, United States · 2 investments in Belgium Medical startups

Dental Innovation Alliance (DIA) is a venture capital company that invests in, advises on, and accelerates the growth of early-stage companies that are transforming dentistry through technology.

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Investment focus

  • Industry: Dental, Health Care, Software
  • Stage:Seed, Series A
  • Geography: United States, Belgium, Germany

Investor stats

  • Total investments: 11
  • Round size: Seed $1.8M–$2.1M; Series A $4.5M–$5.5M
  • Lead/follow: 73% lead, 27% follow

Portfolio highlights

  • Relu — Integrate Relu's automatic 3D segmentations seamlessly into your CBCT software.
  • Alta Smiles — Alta Smiles provides patent-pending orthodontic clinical support solutions. It is driven by a mission to make orthodontic and oral care solutions more accessible and convenient through innovation and technology.
  • Perceptive — Developer of an image-guided robotic restorative dentistry platform for crowns and fillings. CYBERDONTICS enables dentists to identify, remove and restore tooth decay with higher precision than is currently possible using human senses and human hands. CYBERDONTICS adds capacity to dental clinics. For patients, CYBERDONTICS aims to provide superiorrestorations at a lower cost and in less time.
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BioGeneration Ventures
VC Fund · Naarden, Noord-Holland, The Netherlands · 2 investments in Belgium Medical startups

Shaping new life-science ventures.

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Investment focus

  • Industry: Biotechnology, Therapeutics, Health Care
  • Stage:Series A, Seed
  • Geography: The Netherlands, United States, Belgium

Investor stats

  • Total investments: 66
  • Round size: Seed $1.1M–$50M; Series A $6M–$86M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — raised $172M in 2021

Portfolio highlights

  • Dualyx — Dualyx engages in the discovery and development of biologicals for the treatment of autoimmune and rare diseases.
  • Mironid — Google Analytics is a web analysis service provided by Google. Google utilizes the data collected to track and examine the use of www.mironid.com, to prepare reports on its activities and share them with other Google services. Google may use the data collected to contextualize and personalize the ads of its own advertising network.
  • Noviogendix Holding — NovioGendix, a privately-held molecular diagnostics company focused on the development of a non-invasive liquid biopsy test for prostate cancer. NovioGendix, based in Nijmegen (The Netherlands), is a molecular diagnostic company providing an expert-based, integrated approach in developing advanced and clinically useful molecular diagnosticassays for uro-oncological practice. NovioGendix has a range of diagnostic tests for prostate, bladder, kidney and other urologic cancers in various stages of development. Commencing activities in 2008 as a Radboud University Medical Center (Radboudumc) spin-off company, NovioGendix has a standing cooperation with various Radboudumc departments. The main shareholders of NovioGendix include BioGeneration Ventures, and Participatiemaatschappij Oost Nederland.
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BAN Vlaanderen
VC Fund · Hasselt, Limburg, Belgium · 2 investments in Belgium Medical startups

BAN Vlaanderen is the business angel network in Flanders, a value-added platform within which new or growing businesses are brought into contact with informal private investors, called Business Angels. Looking for venture capital This Business Angels bring not only money but also their own know-how, experience and contacts. Are connecting servicesoffered. Both the entrepreneurs and the business angelsBAN Vlaanderen is no investment, it does not own shares or take any investment decisions, nor for its own account or on behalf of the affiliates. Instead, it is a market where supply and demand are brought together. The information on this site is intended to initiate the purpose and operation of BAN Vlaanderen. For more information you can always contact one of our regional offices.BAN Vlaanderen is an association that aims to stimulate the development, support and promotion of entrepreneurship and investment culture in Belgium. Economic growth in Belgium

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Investment focus

  • Industry: Health Care, Medical, Apps
  • Stage:Seed, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 8
  • Round size: Seed $263k–$1.9M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • OutKept — Can you be phished? Verhoog je bewustzijn en naleving met volledig geautomatiseerde phishing-simulaties gemaakt door een community van ethische phishers.
  • Pom — POM stands for Peace of Mind. And it's exactly that worry-free feeling that they want their customers to achieve through their invoice management solutions, both for the receiver and the sender.Their goal is to eliminate the senseless time and effort spent because of inefficient systems. And thus freeing up time to do the things that reallymatter.
  • Oncomfort — Oncomfort’s solution for digital sedation is a completely new method for relieving patients’ pain and anxiety before, during and after medical procedures. This revolutionising digital therapy combines clinical hypnotherapy and integrative therapeutic techniques through Virtual Reality.
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Be Angels
VC Fund · Louvain-la-neuve, Vlaams-Brabant, Belgium · 2 investments in Belgium Medical startups

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.

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Investment focus

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

Investor stats

  • Total investments: 25
  • Round size: Seed $251k–$1.5M; Pre-Seed $78k–$571k
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • ChainComply — ChainComply provides enhanced KYT due diligence solutions for banks and VASPs and relieves them from stressing over incoming transfers from crypto exchanges. 
ChainComply develops a SaaS tool that scans the client's crypto exchange and blockchain transaction history to reveal the source of funds of crypto holders. The company solutionsimplifies complex transaction streams, and then it identifies high-risk transactions and patterns, enabling AML teams to understand their clients better and meet regulatory obligations efficiently.
  • Visiblie — We get your brand recommended by ChatGPT, Perplexity, Gemini, Claude and every major AI search engine in weeks. Done for you.
  • TalentGuide — Unlock workforce potential with Talentguide's skills intelligence platform, transforming ambition into measurable ability through actionable insights and personalized development paths.
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Noshaq
VC Fund · Liège, Liege, Belgium · 2 investments in Belgium Medical startups

Noshaq offers financial services to help businesses develop.

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Investment focus

  • Industry: Medical, Analytics, Health Care
  • Stage:Series A, Venture - Series Unknown
  • Geography: Belgium

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • MyCellHub — MyCellHub.com is a pre-startup from the KULeuven in the biotherapeutics industry that aspires to reform the way cell production processes are organised. With a regulatory compliant Saas-platform for data management and analytics, we increase the efficiency of your manufacturing processes, provide actionable insights via cell culture specificprocess analytics and facilitate regulatory compliance by means of a real-time audit trail and automated batch records.
  • DeuterOncology — DeuterOncology is a preclinical-stage biotech company focusing on the development of a first-in-class dual MET and RAS pathway inhibitor for targeted cancer therapies.
  • Intressa Vascular — Intressa Vascular provides innovative solutions to address life-threatening cardiovascular conditions such as aortic dissection.
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Investsud
VC Fund · Marche-en-famenne, Luxembourg, Belgium · 2 investments in Belgium Medical startups

Investsud is a capital firm that works on investments in different industries including food, general industry, and technological startup.

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Investment focus

  • Industry: Biotechnology, Medical, Health Care
  • Stage:Series A, Seed, Series B
  • Geography: Belgium, France

Investor stats

  • Total investments: 14
  • Round size: Seed $546k–$24M; Series A $4.7M–$29M; Series B $22M–$23M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Brenus Pharma — Brenus Pharma develops off-the-shelf, next-generation in vivo immunotherapies designed to unlock the immune response against solid tumors.
  • Enodia Therapeutics — Enodia Therapeutics pioneers targeted protein degradation at the Sec61 translocon, developing small-molecule therapies for inflammatory and autoimmune diseases.
  • Novadip Biosciences — Novadip Biosciences, an advanced biopharmaceutical company focused on new generation of therapies from adipose stem cells adapted to hard and soft tissues reconstruction.
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Thuja Capital
VC Fund · Utrecht, Utrecht, The Netherlands · 2 investments in Belgium Medical startups

Thuja Capital invests in early stage medical product innovations for diagnosis, cure, care or prevention.

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Investment focus

  • Industry: Biotechnology, Medical, Health Care
  • Stage:Series A, Seed
  • Geography: The Netherlands, Belgium, United States

Investor stats

  • Total investments: 54
  • Lead/follow: no public data

Portfolio highlights

  • Pan Cancer — Pan Cancer T is an immunotherapy company developing next-generation TCR-T cell therapies for solid cancer.
  • Synerkine Pharma — Synerkine Pharma. Connecting Cytokines for the benefit of patients.
  • Artica Therapeutics — Artica Therapeutics specializes in biotechnological research and development for medical devices, pharmaceutical processes, and food.
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Andera Partners
VC Fund · Paris, Ile-de-France, France · 1 investments in Belgium Medical startups

Andera Partners, formerly known as Edmond de Rothschild Investment Partners (EdRIP) As heir to the traditions and values that have ensured the success of the Rothschild family for 250 years, the Edmond de Rothschild Group has established itself over time as a leading player in European finance. Its activities are grouped around two major areas:Private Banking and Asset Management. The Group offers wealthy families, entrepreneurs, and large institutions a full range of solutions combining a culture of tailored solutions, stability, performance, and innovation. The Edmond de Rothschild Group’s offering is characterised by strong convictions, with the desire to guarantee to each of its customers: A unique, close relationship, underpinned by the know-how and the variety of expertise of a large international group; Autonomous, experienced teams, who anticipate economic trends and innovate to establish long-term performance; The recognised stability, strength, and independence of a family-owned financial group. Founded by Baron Edmond de Rothschild in 1953, the Group has been chaired by his son, Baron Benjamin de Rothschild, since 1997.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series B, Private Equity
  • Geography: France, United States, Germany

Investor stats

  • Total investments: 167
  • Lead/follow: no public data

Portfolio highlights

  • FIRE1 — FIRE1 and is based in Dublin, Ireland, will focus on developing novel therapeutic devices.
  • Evommune — Evommune is taking a tissue-based approach to advance insights and accelerate the development of transformative medicines in inflammatory diseases.
  • Bioptimus — Our mission is to build the first universal AI foundation model for biology to fuel breakthrough discoveries and accelerate innovations in biomedicine and beyond.
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BNP Paribas Fortis
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Medical startups

BNP Paribas Fortis is a bank that provides personal and business banking services.

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Investment focus

  • Industry: Biotechnology, Logistics, Pharmaceutical
  • Stage:Debt Financing, Series B
  • Geography: Belgium, United States, Germany

Investor stats

  • Total investments: 21
  • Lead/follow: no public data

Portfolio highlights

  • Aphea.Bio — Driving the revolution in biologicals
  • Hexa — eFounders partners with talented co-founders to build the future of product-led SaaS.
  • Global Infrastructure Partners — A leading global, independent infrastructure fund manager.
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TCD Capital (ex TheClubDeal)
VC Fund · Uccle, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Medical startups

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.

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Investment focus

  • Industry: Health Care, Biotechnology, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: Belgium, France

Investor stats

  • Total investments: 17
  • Lead/follow: no public data

Portfolio highlights

  • Vaxinano — Vaxinano is a biotechnology company specialized in preclinical and pharmaceutical development of human and veterinary vaccines and drug delivery systems. Vaxinano was created in 2016, building on 25 years of research and clinical trials on vaccines and the patented technology of Pr Didier Betbeder.
  • Inpulse — Inpulse is an automated supply management platform for restaurateurs.
  • Clouds of care — Increasing your probability of success through the adoption of meaningful endpoints, starting from electrophysiology.
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Delta Partners
VC Fund · Leopardstown, Dublin, Ireland · 1 investments in Belgium Medical startups

Early stage VC investments and funding for start-ups / founders in Ireland.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A
  • Geography: Ireland, United States, United Kingdom

Investor stats

  • Total investments: 106
  • Lead/follow: no public data

Portfolio highlights

  • Imvizar — Transform your buildings, office spaces, visitor attractions, and parks with an immersive and visual storytelling experience using augmented reality. Discover unique ways to tell your story at Imvizar.
  • ZeroMission — ZeroMission is an electromobility and lead innovator in software development, and power-energy infrastructure.ZeroMission offers fleet management software to businesses that own and operate fleets of commercial electric vehicles (EVs).
  • MarketSizer — MarketSizer offers subscription-based competitive intelligence and market insights for SaaS vendors who want to strategically grow their business.
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Quest for Growth
VC Fund · Leuven, Vlaams-Brabant, Belgium · 1 investments in Belgium Medical startups

Quest for Growth (QGPLF) is an Internet company located in 19 Lei, Leuven, Flanders, Belgium.

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Investment focus

  • Industry: Biotechnology, Hardware, Software
  • Stage:Series B, Series C
  • Geography: Belgium, France, The Netherlands

Investor stats

  • Total investments: 24
  • Lead/follow: no public data

Portfolio highlights

  • Qpinch — Our patented QHT - Qpinch Heat Transformer - technology recovers and transforms waste heat into carbon neutral process heat.
  • Finquest — Tap into the largest private company database in the world to change the way you find and connect with M&A targets using Data, AI, & People.
  • Confo Therapeutics — Confo Therapeutics is a clinical-stage company committed to accelerating novel GPCR-directed medicines for metabolic & endocrine diseases.
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Wellington Partners
VC Fund · Munich, Bayern, Germany · 1 investments in Belgium Medical startups

Wellington Partners is a venture capital firm that invests in technology and life sciences companies, focusing on Digital Media, Software, Electronics & Photonics, Resource Efficiency, and Biotech/Life Sciences. It is committed to providing outstanding entrepreneurs with the necessary resources to fund their strategies. We typically leadfinancing rounds ranging from € 0.5 million to € 20 million. Depending on the maturity of the company, its own commitment can go as high as € 15 million.Wellington was established in 1998 and has offices in Munich, London, and Zurich.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series A, Series B
  • Geography: Germany, United States, United Kingdom

Investor stats

  • Total investments: 191
  • Lead/follow: no public data

Portfolio highlights

  • Hilo — Founded in Switzerland in May 2018 out of a passion to turn insights into action in the fight against hypertension, Aktiia’s groundbreaking medical technology provides people and their physicians comprehensive insights into blood pressure patterns that will inform the diagnosis and management of hypertension. Now available in the United Kingdom,Aktiia has received its CE Mark as a Class IIa medical device - signifying that the device has been assessed to meet high safety, health and environmental protection requirements in Europe. To learn more, visit Aktiia.com.
  • UiPath — Reinvent your workplace with the leading robotic process automation platform and learn how UiPath can help your company become a fully automated enterprise.
  • Nuclidium — NUCLIDIUM is a clinical-stage radiopharmaceutical company that develops novel radionuclide PET tracers for precision diagnostics. Using copper isotopes, Copper-61 for diagnostics and Copper-67 for therapeutics, the company is creating a differentiated platform with the potential to overcome existing limitations in radiotheranostics.
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Sofinnova Investments
VC Fund · Menlo Park, California, United States · 1 investments in Belgium Medical startups

Sofinnova deploys human and financial capital to turn dreams into drugs. We are a clinical-stage biopharmaceutical venture capital firm with approximately $2B in assets under management and committed capital.

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Investment focus

  • Industry: Biotechnology, Health Care, Pharmaceutical
  • Stage:Series B, Series A, Series C
  • Geography: United States, France, Switzerland

Investor stats

  • Total investments: 200
  • Lead/follow: no public data

Portfolio highlights

  • Axonis Therapeutics — AXONIS Therapeutics, Inc. is advancing breakthrough discoveries to develop first-in-class therapies for neurological disorders.
  • Avenzo Therapeutics — Developing the next generation of oncology therapies for patients.
  • Seaport Therapeutics — Seaport Therapeutics operates as a clinical stage biopharmaceutical company.
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Ifoghas Investments
VC Fund · 1 investments in Belgium Medical startups

Ifoghas Investments operates as an investment firm.

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Investment focus

  • Industry: Medical, Health Care, Life Science
  • Stage:Series A
  • Geography: Belgium

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Amyl Therapeutics — Amyl Therapeutics is a preclinical stage biotechnology company. Amyl Therapeutics uses a novel mechanism to bind to the amyloid fold of toxic protein aggregates of various types, including antibody light chain (AL) or transthyretin (TTR) aggregates, which accumulate in peripheral organs to cause systemic amyloidosis diseases, but also amyloid-β(Aβ), Tau, and α-synuclein aggregates, which accumulate in the brain to cause Alzheimer's and Parkinson's diseases.
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SoFi
VC Fund · San Francisco, California, United States · 1 investments in Belgium Medical startups

SoFi is a finance company that offers a range of lending and wealth management services. The company primarily caters to early-stage professionals and offers variable and fixed rate parent, personal, and MBA loans, mortgage refinancing, and more. They create modern financial products and services that help people borrow, save, spend, invest, andprotect their money better so that they can achieve financial independence and realize their ambitions from owning a home to saving for retirement, paying off their student loans, and more.It was founded in 2016 and is headquartered in San Francisco, California.

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Investment focus

  • Industry: Software, FinTech, Blockchain
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: United States, Belgium, Brazil

Investor stats

  • Total investments: 17
  • Round size: Seed $500k–$8.5M; Series A $1.1M–$25M; Venture - Series Unknown $1.6M–$2.2M
  • Lead/follow: 12% lead, 88% follow
  • Last fund: May invest from a new fund soon — raised $105M in 2017

Portfolio highlights

  • zerohash — zerohash provides API-first technology and turnkey regulatory infrastructure to launch and scale compliant crypto and stablecoin products quickly and securely.
  • Casap — Casap is an award-winning dispute automation platform that streamlines compliance, reduces operational costs, and enhances consumer satisfaction by automating up to 30% of dispute cases. Trusted by fintechs and financial institutions to deliver fast, accurate, and compliant resolutions.
  • Digital Asset — As leaders in blockchain technology, Digital Asset empowers customers with Daml, the leading platform for multi-party applications; an innovative smart contract language and Canton, our privacy-enabled distributed ledger technology.
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Fidimec
VC Fund · Leuven, Vlaams-Brabant, Belgium · 1 investments in Belgium Medical startups

Fidimec is a Belgium-based venture capital firm that offers investment and incubation services for seed stage startups.

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Investment focus

  • Industry: Industrial, Semiconductor, Medical
  • Stage:Seed, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 7
  • Round size: Seed $2.7M–$4.9M; Series A $2.2M–$7.7M
  • Lead/follow: 0% lead, 100% 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.
  • Sentea — Sentea makes fibre optic Sensing affordable to the industry and enables continuous monitoring even in harsh environments.
  • MICLEDI Microdisplays — MICLEDI Microdisplays is an experienced executive in the semiconductor industry,
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Manuardeo
VC Fund · 1 investments in Belgium Medical startups

Manuardeo is an early stage investments focused VC firm.

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Investment focus

  • Industry: Medical, Diabetes, Health Care
  • Stage:Series A, Series B
  • Geography: Belgium

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Indigo Diabetes — Indigo Diabetes nv (Indigo) is a young high-tech medical device company founded by Danaë Delbeke and her team ended in 2016. Indigo develops the world’s first invisible sensor for people living with diabetes to address their need for accurate glucose monitoring with improved user experience. Indigo exploits groundbreaking photonics technology thatrevolutionized the Internet during the last decades and now aims at transforming diabetes management.
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Carevolution
VC Fund · 1 investments in Belgium Medical startups

Offers health consulting services

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Investment focus

  • Industry: Health Care, Medical Device, Medical
  • Stage:Seed
  • Geography: Belgium, United States

Investor stats

  • Total investments: 3
  • Round size: Seed $1.2M–$4.5M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • moveUP — Ontvang medische zorg op afstand voor en na uw operatie. moveUP is gespecialiseerd in de begeleiding van knie- en heupoperaties.
  • Helpper — Helpper verbindt mensen die thuishulp zoeken voor dagelijkse taken, met hulpvaardige buurtbewoners die een centje willen bijverdienen.
  • Neuroventis — Neuroventis emboldening people with neurological disorders. Learn how our technology is changing the world of neurological care.
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Allegro Investment Fund
VC Fund · Heverlee, Vlaams-Brabant, Belgium · 1 investments in Belgium Medical startups

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.

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Investment focus

  • Industry: Software, Hardware, Apps
  • Stage:Series A, Series B
  • Geography: Belgium, United States, The Netherlands

Investor stats

  • Total investments: 9
  • Lead/follow: no public data

Portfolio highlights

  • Visys — Visys NV, The optical sorting innovation Company, is a leading state-of-the-art provider of Digital automated sorting solutions to the global food and non-food processing industry.
  • Mass Relevance — Mass Relevance develops and offers cloud-based software for media and entertainment sectors.Its software enables social media content aggregation, filtration, and integration. The company's clientele includes December, 2010. The company was founded in 2009 and is based in Austin, Texas.In April 2014, Mass Relevance merged with Spredfast, forming a comprehensive social marketing company.
  • GreenPeak Technologies — GreenPeak Technologies operates as a fabless semiconductor and is one of the leaders in the ZigBee market with a rich offering of RF chips for the Smart Home and the IoT.Driven by the world’s MSOs, GreenPeak is proving its market leadership position as the Internet of Things connectivity technology provider for the Smart Home.GreenPeakTechnologies is a fabless semiconductor company and the leader in the ZigBee market with a rich offering of semiconductor products and software technologies for Smart Home data communications and the Internet of Things.The GreenPeak founders have significantly contributed to the invention of WiFi and made it into a commercial success, used by several billion people today. GreenPeak is recognised as a leader in developing new wireless technologies for consumer electronics, Smart Home applications and the IoT/IoE, demonstrating rapid growth and adoption by major customers around the globe.It offers its products for original equipment manufacturers in the United States, Europe, and Asia. The company was formerly known as Xanadu Wireless and changed its name to GreenPeak Technologies B.V. in 2007. GreenPeak Technologies was founded in 2004 and is based in Utrecht, the Netherlands with additional offices in Belgium, Japan, France, California, US as well as in Korea and Hong Kong.
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Ark Angels Activator Fund
VC Fund · Hasselt, Limburg, Belgium · 1 investments in Belgium Medical startups

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,

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Investment focus

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

Investor stats

  • Total investments: 20
  • Lead/follow: no public data

Portfolio highlights

  • Apicbase — Apicbase is a F&B management platform that gives you total visibility of your back of house so you can grow without compromise.
  • waylay — Waylay is a leading Enterprise IT-OT digital unification software company delivering low-code based orchestration, automation and analytics software solutions. Waylay has a passion for supporting enterprises on their IoT automation journey and ensuring it puts all valuable data to work for developers, data scientists and domain experts.
  • Accelleran — Accelleran is pioneering a disruptive approach to the delivery of cost-effective, carrier and mission-critical grade TDD and FDD Small Cell networks through its focus on software quality and partnerships with volume manufacturers.Accelleran provides LTE Small Cell software and LTE Small Cell product solutions which address the real-worldchallenges of volume deployment of Small Cells. We offer turnkey solutions and unique experience on the challenges of integrating cellular technology on low cost, yet powerful platforms and architectures. Accelleran offers its customers solid and dependable system solutions, backed by the support of our unparalleled expertise.Accelleran’s technology is genuinely independent from any HW platform and enables operators to invest once in the integration and validation of a common software base that can be deployed across different segments, platforms and Small Cell architectural approaches to enable a truly integrated HetNet.
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Sofinnova Partners
VC Fund · Paris, Ile-de-France, France · 1 investments in Belgium Medical startups, 20 in the past 12 months

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Series B, Series C
  • Geography: France, United States, United Kingdom

Investor stats

  • Total investments: 230
  • Lead/follow: no public data

Portfolio highlights

  • AAVantgarde Bio — AAVantgarde Bio is developing gene therapies for inherited retinal disorders.
  • Crescendo Biologics — Crescendo Biologics is a new Cambridge-based company whose vision is to deliver next-generation antibody therapeutics based on novel class-leading platforms.The focus of the company is on developing platforms that will address key issues in generating high-affinity, soluble, human VH antibody fragments. These are the smallest fragments thatretain antibody binding, and have many desirable properties as potential therapeutics. Crescendo will then utilise these platforms for product development of in-house targets or in partnership with other companies.
  • Tenpoint Therapeutics — Tenpoint Therapeutics is a biotechnology company pursuing vision-restoring engineered cell-based therapeutics.
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Hunza Ventures
VC Fund · Luxembourg, Luxembourg, Luxembourg · 1 investments in Belgium Medical startups

Hunza Ventures is a venture capital firm incorporated in 1998 in Luxemburg. The firm has focused its investments on early and mid-stage life sciences and IT companies with outstanding growth prospects.Hunza Ventures has built a large and well-balanced portfolio based on the strong entrepreneurial experience of the fund’s shareholders andmanagers. Since inception, Hunza Ventures has backed 20 companies in Belgium, Israel, USA and Singapore.Hunza Ventures has raised two funds:Hunza Ventures raised €15 million. The fund made 14 venture investments and is fully invested. A series of companies have successfully been divested.Hunza Ventures II raised €6.25 million in October 2008. This fund is actively investing and is currently raising additional capital.

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Investment focus

  • Industry: Medical, Health Care, Biotechnology
  • Stage:Series A
  • Geography: Belgium, United States

Investor stats

  • Total investments: 2
  • Lead/follow: no public data

Portfolio highlights

  • ITeos Therapeutics — iTeos Therapeutics is pioneering the discovery and development of highly differentiated immuno-oncology therapeutics for cancer patients.
  • Formac Pharmaceuticals — Formac is a spin-off company from the University of Leuven, Belgium (K.U.Leuven), from which it has obtained the exclusive and worldwide rights to develop and commercialise ordered mesoporous silica materials for the delivery of poorly soluble API's. The company was incorporated on 3 October 2007 and is privately owned. The main shareholdersof Formac are K.U.Leuven, Allegro Investment Fund, Hunza Ventures, Gemma Frisius Fonds K.U.Leuven, Vinnof PMV and Life Sciences Research Partners VZW (formerly D. Collen Foundation).Since its incorporation Formac has signed more than 40 feasibility agreements with Tier 1 Pharma companies and SMEs in the field of human and veterinary medicine. To date, Formac is the only company that demonstrated the clinical relevancy of the silica based technology in a clinical setting.
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Medical VC funding in Belgium at a glance

Stats across 148 deals from 165 investors.

165
investors
in Belgium Medical startups
148
deals
in Belgium Medical startups
$3.6M
median round
in Belgium Medical startups
44%
lead investors
lead at least one round
19%
Grant
most common funding stage

Access all 165 VC funds in Belgium Medical startups.

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