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Top 50 Medical VC Funds & Investors in Belgium (July 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
10 Belgium, France, Germany Series A, Seed Biotechnology, Health Care, Medical $137k–$16M
Newton Biocapital
VC Fund
5 Belgium, Japan, France Series A, Seed Biotechnology, Medical, Health Care $2.7M–$84M
V-Bio Ventures
VC Fund
5 Belgium, France, United States Series A, Series B, Seed Biotechnology, Health Care, Therapeutics $3.1M–$88M
Limburgse Reconversie Maatschappij
VC Fund
5 Belgium, United States, The Netherlands Seed, Series A Information Technology, Software, Biotechnology $494k–$11M
Capricorn Partners
VC Fund
5 Belgium, The Netherlands, United States Series A, Series B Biotechnology, Software, Health Care $3.3M–$42M
Qbic Fund
VC Fund
4 Belgium, The Netherlands Seed, Series A Biotechnology, Software, Health Care $868k–$28M
Gemma Frisius Fund
VC Fund
4 Belgium, France, United Kingdom Seed, Series A, Series B Biotechnology, Health Care, Medical $384k–$84M
Fund+
VC Fund
3 Belgium, United States, Spain Series A, Series B, Series C Biotechnology, Health Care, Therapeutics $11M–$401M
S.R.I.W.
VC Fund
3 Belgium, United States, Spain Series A, Series B Health Care, Biotechnology, Manufacturing $411k–$75M
GoBeyond
VC Fund
3 Switzerland, Germany, United Kingdom Seed, Series A Information Technology, Medical, Software $544k–$10M
WING by Digital Wallonia
VC Fund
3 Belgium Seed, Series A, Convertible Note Software, Health Care, Information Technology $219k–$11M
PMV
VC Fund
3 Belgium, United States, The Netherlands Series A, Seed Software, Biotechnology, Health Care $549k–$40M
Mérieux Equity Partners
VC Fund
3 France, United States, Spain Series A, Series B Health Care, Biotechnology, Medical $5.7M–$87M
Volta Ventures
VC Fund
2 Belgium, The Netherlands, United States Seed, Series A, Pre-Seed Software, Information Technology, Artificial Intelligence $850k–$10M
Flanders Future Techfund
VC Fund
2 Belgium, The Netherlands Seed, Series A Medical, Biotechnology, Clinical Trials $2.7M–$33M
BioGeneration Ventures
VC Fund
2 The Netherlands, United States, Belgium Series A, Seed Biotechnology, Therapeutics, Health Care $1.1M–$86M
Spinventure
VC Fund
2 Belgium Series A Health Care, Biotechnology, Medical $768k–$15M
Inventures SA
VC Fund
2 Belgium, France, United Kingdom Series A, Seed Health Care, Biotechnology, Manufacturing $82k–$13M
Omnes Capital
VC Fund
2 France, Germany, United States Series A, Series B Software, Biotechnology, Health Care $3.5M–$53M
Buysse & Partners
VC Fund
2 Belgium, United Kingdom, The Netherlands Series A, Seed Software, Cloud Computing, FinTech $1.1M–$11M
BAN Vlaanderen
VC Fund
2 Belgium Seed, Series A Health Care, Medical, Apps $544k–$1.9M
White Fund
VC Fund
2 Belgium, United States Seed, Series A, Venture - Series Unknown Health Care, Medical, Medical Device $4.1M–$12M
Thuja Capital
VC Fund
2 The Netherlands, Belgium, United States Series A, Seed Biotechnology, Medical, Health Care
Forbion Capital Partners
VC Fund
2 United States, United Kingdom, The Netherlands Series B, Series A, Series C Biotechnology, Health Care, Medical $16M–$176M
Sambrinvest
VC Fund
2 Belgium, France, Spain Seed, Series A, Series B Biotechnology, Health Care, Medical $411k–$46M
Be Angels
VC Fund
2 Belgium, France, Luxembourg Seed, Pre-Seed SaaS, Software, Health Care $78k–$1.5M
Noshaq
VC Fund
1 Belgium Series A Medical, Analytics, Health Care
Vinnof
VC Fund
1 Belgium, United Kingdom Series A, Series B Biotechnology, Health Care, Medical
NV Industriebank LIOF
VC Fund
1 The Netherlands, Belgium Series A, Seed Biotechnology, Medical, Health Care
Andera Partners
VC Fund
1 France, United States, Germany Series B, Private Equity Biotechnology, Health Care, Medical
Yonjin Venture
VC Fund
1 United States, China, Israel Series B, Series A, Series C Biotechnology, Health Care, Medical
BIP Investment Partners
VC Fund
1 Belgium Series A, Series B Video, Medical, Software
Integrale Advisors
VC Fund
1 Belgium Series A Medical, Health Care, Therapeutics
Limburg Startup
VC Fund
1 The Netherlands, France, Belgium Series A, Series B Biotechnology, Life Science, Health Care
Financière Spin-Off Luxembourgeoise
VC Fund
1 Belgium Series A Medical, Health Care, Medical Device
New Rhein
VC Fund
1 United States, Israel, Belgium Series B, Series A, Seed Medical, Biotechnology, Health Care
New Science Ventures
VC Fund
1 United States, United Kingdom, Belgium Series B, Series A, Series D Biotechnology, Health Care, Medical $4M–$52M
Manuardeo
VC Fund
1 Belgium Series A, Series B Medical, Diabetes, Health Care
Fidimec
VC Fund
1 Belgium Series A, Seed Industrial, Semiconductor, Medical $2.2M–$7.7M
Sensinnovat
VC Fund
1 Belgium, France Seed, Series A, Series B Health Care, Manufacturing, Medical Device $5.5M–$17M
imec.xpand
VC Fund
1 Belgium, United States, Germany Seed, Series A, Series B Semiconductor, Manufacturing, Medical Device $3.3M–$100M
Parana Management
VC Fund
1 Belgium Series A, Series B Medical, Diabetes, Health Care
Notger invest
VC Fund
1 Belgium Series A Medical, Health Care
KBC Focus Fund
VC Fund
1 Belgium, The Netherlands, France Seed, Series A Semiconductor, Manufacturing, Electronics $1.2M–$17M
Innovation Fund
VC Fund
1 Belgium, France, Luxembourg Seed, Series A Health Care, Manufacturing, Information Technology $329k–$5.8M
Theodorus III
VC Fund
1 Belgium, Canada, France Seed, Series A Health Care, Life Science, Biotechnology $2.2M–$18M
Smedvig
VC Fund
1 Belgium, Romania, South Africa Series A, Series C Mining, Medical, Software
6K Venture Capital
VC Fund
1 Panama, Belgium Seed, Series A Medical, Software, Health Care
Spreds
VC Fund
1 Belgium, France Series A, Seed, Series B Information Technology, E-Commerce, Health Care $165k–$2.5M
Gesval
VC Fund
1 Belgium Seed, Series C Medical, Software, Wellness
Access all 135 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 · 10 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
  • Geography: Belgium, France, Germany

Investor stats

  • Total investments: 77
  • Round size: Seed $137k–$6M; Series A $3.3M–$16M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • TrustUp — TrustUp is the home contractors platform, connects homeowners with verified quality home improvement.
  • 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).
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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, Health Care
  • Stage:Series A, Seed
  • Geography: Belgium, Japan, France

Investor stats

  • Total investments: 22
  • Round size: Seed $2.7M–$3.2M; Series A $6.1M–$84M
  • Lead/follow: 68% lead, 32% follow
  • Last fund: Likely still investing — fund raised 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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V-Bio Ventures
VC Fund · Gent, Oost-Vlaanderen, Belgium · 5 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: 43
  • Round size: Seed $3.1M–$50M; Series A $6.6M–$70M; Series B $12M–$88M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: May invest from a new fund soon — raised $129M in 2021

Portfolio highlights

  • Animab — Animal Health Company
  • 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.
  • Biodol Therapeutics — Biodol Therapeutics, founded in 2015, develops first-in-class compounds for the treatment of chronic pain (CP). Biodol Therapeutics has identified the Receptor Tyrosine Kinase (RTK) FLT3 as a key player for triggering and maintaining the chronic neuropathic pain (NP) state. New findings from Biodol Therapeutics' academic partnership (CyrilRivat and Jean Valmier at the INSERM Institute for Neurosciences in Montpellier) also demonstrated that FLT3 inhibition increases the potency of opioids for their analgesic effect, and hereby reduces their safety risks, especially addiction risk, which will help fighting the Opioid Crisis. The development of extracellular inhibitors of the FLT3 receptor, is a proprietary and key approach developed by Biodol Therapeutics.
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Limburgse Reconversie Maatschappij
VC Fund · Hasselt, Limburg, Belgium · 5 investments in Belgium Medical startups

Oxygen for growth - LRM

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Investment focus

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

Investor stats

  • Total investments: 91
  • Round size: Seed $494k–$5.2M; Series A $1.6M–$11M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Monsana — Monsana offers an AI-powered platform that connects eligible participants to relevant clinical trials throughout Europe.
  • 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.
  • Aidoptation — Aidoptation develops autonomous driving technology for dual-use applications in commercial automotive, police and first-responder vehicles, and defence-relevant environments.
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Capricorn Partners
VC Fund · Leuven, Vlaams-Brabant, Belgium · 5 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, Software, Health Care
  • Stage:Series A, Series B
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 118
  • Round size: Series A $3.3M–$18M; Series B $5.3M–$42M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Sensolus — Sensolus provides care-free tracking of your valuable non-powered assets directly from the cloud.Sensolus offers turnkey solutions for wireless, low-power context-aware sensing. Sensolus developed a personal product line of low-power tracker systems called STICKNTRACK.Sensolus is built upon many years of expertise in low-power networks,wireless sensor design, cloud-based sensor management, analytics, and applications.
  • 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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Qbic Fund
VC Fund · Belgium, Wisconsin, United States · 4 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
  • Geography: Belgium, The Netherlands

Investor stats

  • Total investments: 57
  • Round size: Seed $1.3M–$7.7M; Series A $868k–$28M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely still investing — raised $57M in 2022

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.
  • 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.
  • Blue Foot Membranes — Blue Foot Membranes delivers unbreakable MBR membranes for wastewater treatment. Reliable water reuse, high capacity and low total cost of ownership.
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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, Health Care, Medical
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, France, United Kingdom

Investor stats

  • Total investments: 39
  • Round size: Seed $384k–$4.6M; Series A $932k–$84M; Series B $4.4M–$24M
  • Lead/follow: 10% lead, 90% 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
  • Aspect Analytics — Aspect Analytics offers consultancy services, home-grown software, development of workflows, and customization of software.
  • Magics Technologies — Magics Technologies is a nuclear research center that develops autonomous machines for sustainable energy sources.
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Fund+
VC Fund · Leuven, Vlaams-Brabant, Belgium · 3 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: 32
  • Round size: Series A $11M–$44M; Series B $21M–$125M; Series C $11M–$401M
  • Lead/follow: 28% lead, 72% 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.
  • Tubulis — Reimagining Antibody Drug Conjugates Tubulis generates uniquely matched protein-drug conjugates through the combination of novel proprietary technologies and disease-specific biologic insight. Our goal is to expand the therapeutic potential of antibody-drug conjugates (ADCs) by increasing design flexibility while overcoming constraints of toxicity, efficacy and indication. Tubulis will build new conjugates to fill its pipeline and
  • 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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S.R.I.W.
VC Fund · Liège, Liege, Belgium · 3 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:Series A, Series B
  • Geography: Belgium, United States, Spain

Investor stats

  • Total investments: 111
  • Round size: Series A $411k–$31M; Series B $1.6M–$75M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Univercells — We are biotech innovators, rooted in Belgium, driven by one purpose: To transform how biotech drugs are made so everyone, everywhere, can get them.
  • 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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GoBeyond
VC Fund · Zürich, Zurich, Switzerland · 3 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: Information Technology, Medical, Software
  • Stage:Seed, Series A
  • Geography: Switzerland, Germany, United Kingdom

Investor stats

  • Total investments: 163
  • Round size: Seed $544k–$5M; Series A $1.2M–$10M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • Fastree3D — Fastree3D imaging sensors help recognize and measure distance to fast moving objects in real-time, enabling driving assistance or autonomous navigation. Fastree3D SA is a fabless semiconductor company, spin-off from EPFL Lausanne, Switzerland founded in September 2013 (UID CHE-291.330.490). The company subsidiary Fastree3D B.V. performs researchwith TU-Delft, Netherlands (KvK 58866973).
  • Spyra One — Single Shot Technology | Tactical display | Automatic Refill | Power Shot SpyraTwo - the world's strongest water gun! Start epic water battles with the only water gun in the world that features our patented Single-Shot-Technology, fully automatical pump, a hightech tactical display and the Power Shot for extra impact.
  • DomoHealth — Join us in revolutionizing patient care using the power of AI-assisted digital health platform and safety solutions. Enhancing digital health with the best platform, application and devices for the direct benefits of patients and healthcare professionals.
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Access 48,091 investors

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

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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, Information Technology
  • Stage:Seed, Series A, Convertible Note
  • Geography: Belgium

Investor stats

  • Total investments: 34
  • Round size: Seed $346k–$1.9M; Series A $1.1M–$11M; Convertible Note $219k–$555k
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • IONNYK — IONNYK is a new medium of art photography, containing millions of tiny ink capsules.
  • 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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PMV
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 3 investments in Belgium Medical startups

Do and dare company

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Investment focus

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

Investor stats

  • Total investments: 152
  • Round size: Seed $549k–$4.3M; Series A $2.7M–$40M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Animab — Animal Health Company
  • Sentea — Sentea makes fibre optic Sensing affordable to the industry and enables continuous monitoring even in harsh environments.
  • CHILI publish — Allow users to edit customizable documents, or fully automate artwork generation. Output files are ready to use for print and digital.
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Mérieux Equity Partners
VC Fund · Lyon, Rhone-Alpes, France · 3 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, Series B
  • Geography: France, United States, Spain

Investor stats

  • Total investments: 39
  • Round size: Series A $5.7M–$34M; Series B $6.6M–$87M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • M2care — M2care specializes in transformative innovation to create more efficient, equitable, and long-term models.
  • HEALTH IN CODE — HIC’s foundational mission is “the identification of health problems that may benefit from a genetic diagnosis, and the development and provision of genetic testing services for those conditions”. Since the beginning of the company, our main differential value is the combination of Knowledge Management tools with an expert dedicatedmultidisciplinary team, which allows us to provide a unique level of interpretation for the best genotyping.Currently HIC is specialized in high quality sequencing services and in the interpretation of genetic tests, providing clinicians with the tool to offer personalized medical care. HIC is the European leader on genetic diagnosis of inherited cardiovascular diseases and constantly extending its scope to other diseases: dyslipidemias, skeletal myopathies and most recently, cancer.
  • 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.
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Volta Ventures
VC Fund · Gent, Oost-Vlaanderen, Belgium · 2 investments in Belgium Medical startups

Volta Ventures is a venture capital firm that offers seed & early stage VC for internet & software companies in the Benelux.The fund’s team, with active support from some 30 business angels, expects to make a substantial impact on every company it invests in by working with the founders and management to identify new markets andcustomers, hire senior talent, provide ongoing guidance and arrange further financing rounds.Volta Ventures has offices in Ghent and Amsterdam.

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Investment focus

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

Investor stats

  • Total investments: 90
  • Round size: Seed $850k–$4.4M; Pre-Seed $1M–$3M; Series A $2.2M–$10M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: May invest from a new fund soon — raised $72M in 2019

Portfolio highlights

  • Nodalview — Nodalview helps real estate agents deliver cutting edge content and an impressive buying experience for happy and loyal customers.
  • RESPONSUM — RESPONSUM is the EU's most user-friendly privacy management SaaS solution. Become compliant with GDPR or any other privacy regulation easily.
  • CHILI publish — Allow users to edit customizable documents, or fully automate artwork generation. Output files are ready to use for print and digital.
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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
  • Geography: Belgium, The Netherlands

Investor stats

  • Total investments: 7
  • Round size: Seed $2.7M–$33M
  • 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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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: 63
  • Round size: Seed $1.1M–$50M; Series A $5.3M–$86M
  • Lead/follow: 29% lead, 71% follow
  • Last fund: May invest from a new fund soon — raised $148M in 2021

Portfolio highlights

  • Dualyx — Dualyx engages in the discovery and development of biologicals for the treatment of autoimmune and rare diseases.
  • Azafaros — Azafaros aims at developing therapeutic agents for the treatment of rare metabolic disorders such as lysosomal storage disorders through oral administration of azasugar compounds. These novel, very promising agents were discovered by Professor Hans Aerts at Leiden University and Amsterdam UMC and are exclusively licensed to Azafaros.
  • Complement Therapeutics — Turning powerful new Complement System insights into innovative treatments Developing the next generation of complement medicines [chevron-down] Turning powerful new Complement System insights into innovative treatments Developing the next generation of complement medicines [chevron-down] Geographic atrophy (late dry age-related macular degeneration) is a chronic eye condition that affects millions - and for which there is
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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: Health Care, Biotechnology, Medical
  • Stage:Series A
  • Geography: Belgium

Investor stats

  • Total investments: 6
  • Round size: Series A $768k–$15M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Dim3 — Improve patients outcome - Deliver actionable insights - Save healthcare costs
  • Elysia — Elysia developed solution dedicated to quality control laboratories for the production of Radio Pharmaceuticals.
  • 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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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, Biotechnology, Manufacturing
  • Stage:Series A, Seed
  • Geography: Belgium, France, United Kingdom

Investor stats

  • Total investments: 46
  • Round size: Seed $82k–$2.2M; Series A $411k–$13M
  • Lead/follow: 9% lead, 91% 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 — A sustainable, cost-effective and reliable energy storage system with second-life batteries from electric vehicles.
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Omnes Capital
VC Fund · Paris, Ile-de-France, France · 2 investments in Belgium Medical startups

Omnes VC is the Venture Capital arm of Omnes Capital, a leading private equity firm dedicated to energy transition and innovation with €4.8 billion in assets under management and a 20 year + experience in: venture capital, buyout & growth capital, private debt, renewable energy, co-investment, secondary funds of funds. Omnes Capital is fullyindependent.With 65 business sales including 14 IPOs carried out in 16 years, Omnes VC is one of the key players in France in financing innovative SMEs with expertise in both Technology and Healthcare sectors. Omnes VC has supported 120 companies and has invested more than €500M in businesses such as Scality, Novaled, BioVex, arGEN-X, Pixium, Blablacar.

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Investment focus

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

Investor stats

  • Total investments: 181
  • Round size: Series A $3.5M–$44M; Series B $4.4M–$53M
  • Lead/follow: 27% lead, 73% follow
  • Last fund: May invest from a new fund soon — raised $403M in 2020

Portfolio highlights

  • VSORA — VSORA provides high performance companion solutions combining AI and signal processing to enable autonomous driving and ADAS
  • SeqOne Genomics — Healthcare is undergoing a revolution, known as genomic medicine, that uses the patient’s genomic information to optimise treatment. This trend is accelerating thanks to the arrival of New Generation Sequencing (NGS) techniques that have reduced the cost of decoding genomic material while increasing the amount useful data obtained. However, NGShas had only limited impact on mainstream healthcare due to the difficulties in analyzing more and richer genomic data. SeqOne’s mission is to provide tools that enable the healthcare industry to analyse NGS genomic data better and more cost-effectively to provide universal access to genomic medicine.
  • 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.
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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
  • Geography: Belgium, United Kingdom, The Netherlands

Investor stats

  • Total investments: 6
  • Round size: Seed $1.1M–$2M; Series A $3.9M–$11M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — raised $23M 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 — Slow breathing is the easiest way to relieve stress and promote relaxation. Moonbird and moonbuddy make it intuitive and easy to practice slow breathing exercises.
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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: 7
  • Round size: Seed $544k–$1.9M
  • Lead/follow: 43% lead, 57% 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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White Fund
VC Fund · 2 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 $23M in 2019

Portfolio highlights

  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • Minze Health — Digital Urology Starts Here from symptom to solution Home-based digital diagnostics and therapeutics for Male LUTS/BPH and OAB. Shaping the future of urology through meaningful data. Get In Touch Our Mission We're redefining how Male LUTS/BPH and OAB are diagnosed and treated Today's Challenge Lower urinary tract symptoms (LUTS) affect a growing group of patients.
  • Clouds of care — Increasing your probability of success through the adoption of meaningful endpoints, starting from electrophysiology.
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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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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 B, Series A, Series C
  • Geography: United States, United Kingdom, The Netherlands

Investor stats

  • Total investments: 200
  • Round size: Series A $19M–$176M; Series B $16M–$155M; Series C $19M–$113M
  • Lead/follow: 52% lead, 48% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • Azafaros — Azafaros aims at developing therapeutic agents for the treatment of rare metabolic disorders such as lysosomal storage disorders through oral administration of azasugar compounds. These novel, very promising agents were discovered by Professor Hans Aerts at Leiden University and Amsterdam UMC and are exclusively licensed to Azafaros.
  • Inflazome — Situs gacor premium Megawin188 paling banyak di minati oleh semua kalangan karena pecah selayar tanpa henti dan memiliki tampilan yang sangat memanjakan mata.
  • Beacon Therapeutics — Beacon aids in restoring and improving the vision of patients with ophthalmic gene therapy. Find out more.
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Sambrinvest
VC Fund · Gosselies, Hainaut, Belgium · 2 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: 39
  • Round size: Seed $544k–$24M; Series A $411k–$46M; Series B $4.4M–$44M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Sunrise — Sunrise aims to bring simple answers to millions of people suffering from sleep disorders.We have developed a 3-gram sensor to diagnose sleep with gold standard quality. The technology offers a revolutionary new way to measure brain commands at night, with published clinical results never seen before. Studies demonstrate Sunrise is as accurate asin-lab sleep studies, at a fraction of the cost.Affecting one in three people, sleep disorders are extremely common. Sleep apnea is the most prevalent disease with almost 1 billion persons concerned. This condition leads to great body damage over time and yet remains undiagnosed in 80% of the cases.Patients, caregiver and insurers stand to benefit greatly from a solution to current highly cumbersome, expensive and time-consuming diagnostics systems.
  • Vertical Compute — Vertical Compute offers chiplet-based technology that cuts data movement to achieve up to 80% energy savings.
  • Enodia Therapeutics — Enodia Therapeutics pioneers targeted protein degradation at the Sec61 translocon, developing small-molecule therapies for inflammatory and autoimmune diseases.
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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, Health Care
  • Stage:Seed, Pre-Seed
  • Geography: Belgium, France, Luxembourg

Investor stats

  • Total investments: 24
  • Round size: Seed $247k–$1.5M; Pre-Seed $78k–$373k
  • Lead/follow: 38% lead, 62% 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.
  • NIUM — NIUM is a startup focused on personalized nutrition and gut microbiome research. NIUM created science-based solutions to transform nutrition research and product development.
  • 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 · 1 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
  • Geography: Belgium

Investor stats

  • Total investments: 3
  • Lead/follow: no public data

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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Vinnof
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Medical startups

Vinnof is a venture capital firm that offers seed capital to innovative, early-stage startups based in Flanders, Belgium.

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Investment focus

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

Investor stats

  • Total investments: 4
  • Lead/follow: no public data

Portfolio highlights

  • Apitope — Apitope is a biotech company focused on the discovery and development of disease modifying therapies for autoimmune and allergic diseases, including multiple sclerosis, Graves’ disease, Factor VIII intolerance and uveitis. The company, whose first product candidate is licensed to Merck Serono, will now progress its remaining portfolio of productcandidates developed with its proprietary platform technology.
  • 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.
  • Okapi Sciences — Okapi Sciences NV, a Belgium-based company with a proprietary pet therapeutics antiviral platform and five clinical/development stage candidates for treating important viral diseases. The strategic acquisition of Okapi further enhances Aratana's leadership position in pet therapeutics by bringing with it a unique combination ofindividuals, strong relationships with academic institutions, novel technologies and products, and favorable geographic location. Aratana plans to continue to advance the current Okapi pipeline of high value antiviral drugs, including its feline herpes and feline immunodeficiency virus franchises.
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NV Industriebank LIOF
VC Fund · Maastricht, Limburg, The Netherlands · 1 investments in Belgium Medical startups

NV Industriebank LIOF is the Limburg development and investment company. LIOF contributes to the prosperity of the province with an ongoing program to strengthen the province's economic base. LIOF targets industry and the dynamic service sector.Its four core activities are Acquisition, Participation, Development/Innovation andBusiness Parks, as these relate to the location/relocation of (foreign) companies, venture capital participation in Limburg companies with prospects, the development/implementation of programs and projects to sharpen the competitive edge of Limburg business and the coordination of the development of new business parks.LIOF has a strategic approach which targets opportunities for long-term economic development. In this it has a bridging role between government and business. LIOF is an ambitious professional organization and speaks the language that business understands.

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Investment focus

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

Investor stats

  • Total investments: 25
  • Lead/follow: no public data

Portfolio highlights

  • Ansana — Ansana develops sterilization solutions for the pharmaceutical and healthcare industries. This technology is significantly cutting patient risk, reducing the environmental imprint, lowering expenses, and increasing flow.
  • Mosa Meat — Mosa Meat produces slaughter-free hamburgers. The burger is harvested from cow cells, rather than raising and slaughtering a whole animal. By growing meat naturally from cells, Mosa Meat strives to accelerate the transition to a truly sustainable global food system.
  • SpecifAi Parking — Maximize your revenue, increase your efficiency and streamline your parking operation.
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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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Yonjin Venture
VC Fund · Cambridge, Massachusetts, United States · 1 investments in Belgium Medical startups

Yonjin Venture is an investment firm specializing in investing in early and mid-stage life science companies.It focuses on the innovative technologies in therapeutics, diagnostics, and medical devices. The firm is a sub-organization of Yongjin Group and the sister firm of Yonghua Capital.The Cambridge, Massachusetts-based firm was establishedin 2018.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • CSA Medical — RejuvenAir System aims to treat Chronic Bronchitis. The SPRAY-CB trial is evaluating the safety of the device and is currently recruiting in the USA.
  • HistoSonics — HistoSonics provides the Edison Platform, which uses advanced imaging and proprietary sensing technology to deliver non-invasive, personalized treatments with precision and control, and uses the science of histotripsy and focused sound energy to generate pressures to liquify and completely destroy targeted tissues at sub-cellular levels.
  • EvolveImmune Therapeutics — EvolveImmune Therapeutics transforms the discovery and development of novel immunotherapies. By leveraging its proprietary in vivo target discovery platform, EvolveImmune is building a pipeline of novel therapeutic candidates against numerous targets that are expressed on multiple immune cell types. The company’s platform will generatefirst-in-class treatments for unmet needs in oncology and autoimmune diseases.
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BIP Investment Partners
VC Fund · Luxembourg, Luxembourg, Luxembourg · 1 investments in Belgium Medical startups

BIP Investment Partners S.A. (BIP) is an independent financial holding company backed by Luxembourg family shareholders.Its activities are divided between providing private equity to businesses, particularly venture capital to startups, and investing in large, well-established Luxembourg-based businessesThe company was founded in 2000 as ajoint venture between Banque Générale du Luxembourg (BGL), later a part of Fortis Group, and now as the newly re-formed BGL and several smaller partners, under the name BGL Investment Partners, which was changed to 'BIP Investment Partners' in February 2006 after the rebranding of BGL. BIP is listed on the Luxembourg Stock Exchange, where it is one of the ten component companies of the main LuxX Index stock market index.

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Investment focus

  • Industry: Video, Medical, Software
  • Stage:Series A, Series B
  • Geography: Belgium

Investor stats

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

Portfolio highlights

  • XDC — CinemaNext is the largest cinema integrator company in EMEA (installation, digital, content, Dolby Atmos, laser projectors, NOC, maintenance & support).
  • Movetis — Movetis NV, a pharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of diseases in the gastrointestinal (GI) area. Its products address GI disorders, such as severe chronic constipation, ascites, paediatric reflux, as well as severe forms of GI motility disorders, including refractorygastro-oesophageal reflux disease. The company's lead product, Resolor, is used for the symptomatic treatment of chronic constipation in women. Resolor is also tested for chronic constipation in males and children, as well as opioid-induced constipation and post operative ileus. Its products also include M0002, which is in Phase II trials to treat ascites, an accumulation of fluid caused by liver malfunction; and M0003 that is entering Phase II development for symptomatic treatment of heartburn and regurgitation in patient's refractory to PPIs, and pediatric reflux. In addition, the company also has two prioritized compounds out of its preclinical portfolio, M0014 and M0012, and two compound libraries. It has partnership agreements with the universities of Ghent, Leuven, and Rotterdam. The company was founded in 2006 and is headquartered in Turnhout, Belgium.
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Integrale Advisors
VC Fund · Sunnyvale, California, United States · 1 investments in Belgium Medical startups

Integrale Advisors L.L.C. is a Real Estate Investment, Advisory and Business Development Firm.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • 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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Limburg Startup
VC Fund · Maastricht, Limburg, The Netherlands · 1 investments in Belgium Medical startups

Limburg Ventures is a venture capital fund that invests in startups in life sciences and related fields of advanced chemicals and materials.

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Investment focus

  • Industry: Biotechnology, Life Science, Health Care
  • Stage:Series A, Series B
  • Geography: The Netherlands, France, Belgium

Investor stats

  • Total investments: 13
  • Lead/follow: no public data

Portfolio highlights

  • FABPulous — FABPulous is an innovative healthcare company which develops and markets solutions for diagnostics in primary care and emergency medicine.FABPulous is a company based in The Netherlands. It was spun out of Maastricht University at the end of 2008. In December 2009 FABPulous closed a first equity financing round co-led by Thuja Capital, HealthInnovations, Limburg Ventures and NV Industriebank LIOF.The company has developed a technology that allows a simple, robust and ultra-rapid diluted plasma preparation from a drop of blood. This offers great advantages in the point-of-care (POC) and home testing setting, over current technology. It concerns a disposable plasma preparation device that can be integrated with many IVD detection platforms, such lateral flow devices. The first product application under development by FABPulous is a rapid test for the cardiac biomarker heart-type fatty acid binding protein (H-FABP), to aid in the first-line diagnosis of acute myocardial infarction.
  • Kriya Materials — Kriya Materials is the innovative developer and manufacturer of various metal oxide nano particles as well as their downstream dispersions and functional coating products thereof. Coatings play an important role in our everyday life, although often not recognized by those who do not master the art. Coatings are a big market and many products fallunder this category. Kriya Materials focuses itself on the development and manufacturing of various nano metal oxides which it uses internally for the development and production of very high end coatings.The coatings made by Kriya Materials are applied in a wide range of markets, some examples are the Plasma Panel and LCD industry, from Smartphone to touch panels to glass surfaces.
  • ReSolved Technologies — ReSolved Technologies are dedicated to increase the circularity of engineering plastics by addressing complex waste streams. They do this by extracting valuable plastics from these difficult-to-recycle waste streams and convert them to recycled material of near-virgin quality that is suited for closed-loop recycling in high-end markets.
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Financière Spin-Off Luxembourgeoise
VC Fund · 1 investments in Belgium Medical startups

Specializes in spin-off and spin-out investments.

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Investment focus

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

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Synergia Medical — Synergia Medical aims at developing and commercializing next generation neurostimulation devices. It relies on a seasoned management team with extensive experience in developing implantable neurostimulators.In only three years time, the company became ISO13485 certified, created and sold an OEM external neurostimulator for a motorized amputeeprosthesis arm and developed its first version of the NAOS platform.Supported by private investors and public research grants, the company has quickly grown to a team of thirteen highly skilled multidisciplinary professionals.
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New Rhein
VC Fund · 1 investments in Belgium Medical startups

New Rhein is a Philadelphia based healthcare venture capital firm focused on repurposed assets.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Theranica — Theranica is a medical device company that has combined neuromodulation therapy with modern wireless technology to develop proprietary wearable solutions that address various medical conditions and disease states. The noninvasive and therapeutic 'smart' patches are controlled by a smartphone app to allow for personalized, portable, andaffordable care. The patch consists of a proprietary 'smart' chip that delivers electrical pulses to neuro-modulate the sensory nerves under the skin. The first application of the technology is for treatment of migraine headaches.
  • Corsair Pharma — Corsair Pharma is developing transformative solutions to improve the therapeutic profile of medications and provide superior treatment options for patients.
  • Butterfly Medical — Butterfly, Butterfly Medical, BPH Treatment, BPH Office Procedure, Idan Geva, Minimally Invasive BPH, Prostate, Enlarged Prostate, Bening Prostate Hyperplasia, Urology
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New Science Ventures
VC Fund · New York, New York, United States · 1 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: 85
  • Round size: Series A $4M–$49M; Series B $8M–$52M; Series D $5M–$38M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — raised $4.9M in 2020

Portfolio highlights

  • EXTEN Technologies — EXTEN HyperDynamic software platform solves the primary challenges of today's data centers: the necessity of keeping up with surging data density, velocity, and volume requirements, and the need for increased application agility.
  • BrightVolt — BrightVolt is an innovative manufacturer of solid-state thin & flexible lithium polymer batteries and power-efficient thin & flexible microelectronics for IoT clients. It specializes in the fields of battery, electronics, and manufacturing. BrightVolt got recapitalization in November 13, 2013.
  • Phase Four — Phase Four is a provider of electric propulsion (EP) for small satellites.The company was founded in 2015 to accelerate the advancement of its core differentiator, the Radio Frequency Thruster (RFT). The hallmark of Phase Four’s RFT is simplicity. Because the RFT omits a hollow cathode and high voltage electronics, three key improvements arerealized: 1) a 10x materials cost savings versus legacy EP systems, 2) a significant decrease in the size of power electronics, and 3) propellant agnosticism. In a first for EP, the Phase Four RF thruster accomplishes this while achieving performance in the same thrust, specific impulse (Isp), and efficiency class as legacy plasma propulsion solutions.
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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 — Revolutionizing the management of chronic disease.
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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:Series A, Seed
  • Geography: Belgium

Investor stats

  • Total investments: 6
  • Round size: 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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Sensinnovat
VC Fund · 1 investments in Belgium Medical startups

Sensinnovat

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Investment focus

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

Investor stats

  • Total investments: 5
  • Round size: Seed $5.5M–$7.3M; Series A $7.7M–$17M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Hummink — Dream Smaller Now : Experience a revolution with Hummink's world's smallest fountain pen. Redefine micro-scale writing with our innovative technology.
  • Azalea Vision — Azalea Vision is a medical manufacturer designing contact lenses with an active light management system for people with ocular disorders.
  • Indigo Diabetes — Revolutionizing the management of chronic disease.
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imec.xpand
VC Fund · Leuven, Vlaams-Brabant, Belgium · 1 investments in Belgium Medical startups

Expanding nanotechnology into business.

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Investment focus

  • Industry: Semiconductor, Manufacturing, Medical Device
  • Stage:Seed, Series A, Series B
  • Geography: Belgium, United States, Germany

Investor stats

  • Total investments: 52
  • Round size: Seed $3.3M–$23M; Series A $8.7M–$56M; Series B $12M–$100M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely still investing — raised $351M in 2024

Portfolio highlights

  • Pharrowtech — Pharrowtech designs next-generation solutions for fixed-wireless access, wireless VR/AR and ultra-high capacity wireless links. It builds on more than 12 years of top-notch R&D performed at imec, the Belgian R&D powerhouse. Leveraging deep technical expertise in algorithm, chip and antenna design for millimeter-wave systems, it createsproducts with best-in-class performance, power and cost features.
  • Spectricity — Spectricity provides multispectral imaging solutions to enhance color accuracy and analysis capabilities in mobile and consumer electronics.
  • Swave Photonics — Swave develops Spatial Computing, Holography, holographic chips, and holograms in the HXR chip to create 3D augmented and virtual reality and HUD Heads Up Displays
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Parana Management
VC Fund · Sint-martens-latem, Oost-Vlaanderen, Belgium · 1 investments in Belgium Medical startups

Parana Management

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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 — Revolutionizing the management of chronic disease.
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Notger invest
VC Fund · Angleur, Liege, Belgium · 1 investments in Belgium Medical startups

Notger invest

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Elysia — Elysia developed solution dedicated to quality control laboratories for the production of Radio Pharmaceuticals.
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KBC Focus Fund
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Medical startups

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.

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Investment focus

  • Industry: Semiconductor, Manufacturing, Electronics
  • Stage:Seed, Series A
  • Geography: Belgium, The Netherlands, France

Investor stats

  • Total investments: 24
  • Round size: Seed $1.2M–$6.6M; Series A $2.7M–$17M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Hummink — Dream Smaller Now : Experience a revolution with Hummink's world's smallest fountain pen. Redefine micro-scale writing with our innovative technology.
  • Axign — We are Axign. A company on a mission to conquer the worldwide consumer audio market with our unique, patented audio technologies.
  • CoolSem Technologies — CoolSem Technologies, based in Eindhoven, the Netherlands, was founded in 2025. The startup develops innovative wafer-level thermal management technologies that reduce thermal resistance and minimize mechanical stress in advanced semiconductor and photonic devices. With its WaLTIS multilayer stack, CoolSem replaces conventional substrates with aspecially designed layer structure that optimizes heat flow, stability and reliability.
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Innovation Fund
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Medical startups

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

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Investment focus

  • Industry: Health Care, Manufacturing, Information Technology
  • Stage:Seed, Series A
  • Geography: Belgium, France, Luxembourg

Investor stats

  • Total investments: 30
  • Round size: Seed $329k–$5.8M; Series A $2.2M–$5.7M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Aerosint — Aerosint invented a technology called "Selective Powder Deposition" which deposits multiple powders in each layer. This unlocks multi-material 3D printing.
  • Daphne Technology — Measure and abate methane slip with Daphne Technology. Learn how we reduce emissions in gas engine exhaust. Contact us today!
  • Zeopore Technologies — Zeopore Technologies innovates zeolite mesoporization to optimize catalysts that enhance processes in refining and petrochemical industries. This leads to higher quality products, lower energy use and less waste, using an approach that is affordable, easily scalable and non-hazardous.
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Theodorus III
VC Fund · 1 investments in Belgium Medical startups

Theodorus is the spin-off fund of Université Libre de Bruxelles that invests ininvest in early stage projects based on proprietary disruptive technologies.

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Investment focus

  • Industry: Health Care, Life Science, Biotechnology
  • Stage:Seed, Series A
  • Geography: Belgium, Canada, France

Investor stats

  • Total investments: 15
  • Round size: Seed $3.7M–$18M; Series A $2.2M–$6.6M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • DrugBank — DrugBank augments human intelligence to improve the world’s health. Our suite of products are powered by the world’s most complete and up-to-date pharmaceutical knowledge database. It includes everything there is to know about drugs and how they work in the body. We enable companies to improve healthcare delivery through precision medicine orclinical software applications, as well as uncover insights through data science in drug discovery. Our knowledge base can be integrated into software solutions to help achieve clinical intelligence. Companies can easily scale their usage through our API and launch faster with flexible data modules. By providing users with advanced insights and the right information at the right time, users are empowered to make better health decisions.Our extensive, structured datasets are used to discover novel drug candidates, identify drug repurposing opportunities, and build predictive machine learning models. Companies working with data science can find answers quickly and get drugs to market faster with our evidence-based drug information. Lastly, our publicly available resource, DrugBank Online, is free-to-use with limited datasets available for download for academic and non-commercial researchers. DrugBank has been cited in over 13,000 academic publications and is used by millions of researchers and health professionals globally.
  • Simmunome AI — We use AI to create accurate, comprehensive disease models using multi-omic data to determine the probability of success of a drug. Our clinical trial simulations allow you to gain insights, make go/no-go decisions, and de-risk your pipeline, getting you to market faster and reducing your R&D co
  • Ability biologics — Ability develops innovative, targeted, immune modulating biotherapeutics to address unmet medical needs in patients with cancer and autoimmune diseases.
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Smedvig
VC Fund · Stavanger, Rogaland, Norway · 1 investments in Belgium Medical startups

Venture Capital firm based in London. We help enable business funding though capital investment. In turn, that funds and drives business growth as exceptional speed. Visit our site to find out how our proven model of business investment can help your start up.

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Investment focus

  • Industry: Mining, Medical, Software
  • Stage:Series A, Series C
  • Geography: Belgium, Romania, South Africa

Investor stats

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

Portfolio highlights

  • Druid AI — DRUID is an AI platform that allows companies to automate processes by designing and deploying UiPath RPA integrated chatbot virtual assistants.
  • 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.
  • Sedibelo Resources — Sedibelo Resources is a developing producer of platinum group metals (PGMs), is active in the acquisition, exploration for, and development and operation of deposits
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6K Venture Capital
VC Fund · 1 investments in Belgium Medical startups

6K Venture Capital operates as a venture capital firm.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Rise Of Defenders — Rise of Defenders is a very interesting Metaverse NFT game, you can use your creativity and tactical thinking to become an excellent player and receive extremely attractive rewards.
  • 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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Spreds
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Belgium Medical startups

We empower high-potential entrepreneurship and democratize venture capital. Discover promising start-ups & SMEs and invest alongside business angels.

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Investment focus

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

Investor stats

  • Total investments: 15
  • Round size: Seed $165k–$1.3M; Series A $247k–$2.5M; Series B $165k–$680k
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • Jelloow — Jelloow is a data-driven platform designed to help businesses clearly identify their true marketing needs. Instead of relying on assumptions or generic solutions, we analyze key data points to provide precise, tailored insights. Our approach eliminates guesswork, ensuring that companies invest in the right marketing strategies to achieve theirgoals. With Jelloow, businesses can confidently navigate their marketing landscape, knowing they’re making decisions backed by real data.The Jelloow process: 1. Plan, Scope and Post your project 2. Get pitches from Marketing Agencies 3. Select your team and start your project. Simple as it can be. Our Jelloow Leads are marketing experts, and will provide best practices so you can see results, ASAP. Get started with a (free!) planning call Let’s chat!
  • Digiteal — Digiteal offers a wide range of services for e-invoice presentment, electronic payments and open banking.
  • NietsCo — NietsCo. is the home of Botaniets Gin 0.0%, a leading selection of alcohol-free products, carefully distributed to the world's best restaurants, concept stores, shops and consumers.
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Gesval
VC Fund · Liège, Liege, Belgium · 1 investments in Belgium Medical startups

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

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Investment focus

  • Industry: Medical, Software, Wellness
  • Stage:Seed, Series C
  • Geography: Belgium

Investor stats

  • Total investments: 4
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Phasya — Phasya offers solutions for detecting drowsiness and measuring eye movements. These solutions are based on eye tracking technologies using eye images. Phasya also develops solutions for detecting various physiological and cognitive states such as stress, attention, cognitive load, and mind wandering.Phasya solutions can be used in variousapplications such as safety, medical diagnosis, and research. We have notably specific solutions and developments for driver monitoring applications.Indeed physiological and cognitive states such as drowsiness influence the ability of an individual to perform a task or to make a decision. Furthermore the measurement of ocular parameters enables one to understand the brain activity and gaze behavior.
  • Ampacimon — Ampacimon develops dynamic line rating systems for transmission and distribution systems operators. Ampacimon’s products address grid infrastructure challenges such as aging assets, transmissions congestion, renewable integration, interconnectors.
  • Hedera-22 — Hedera-22 expanded its scope to include the identification of natural products through the use of in-house bio-informatic prediction technologies.
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Medical VC funding in Belgium at a glance

Stats across 107 deals from 135 investors.

135
investors
in Belgium Medical startups
107
deals
in Belgium Medical startups
$5.2M
median round
in Belgium Medical startups
44%
lead investors
lead at least one round
21%
Series A
most common funding stage

Access all 135 VC funds in Belgium Medical startups.

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