# Belgian Investment Company for Developing Countries

> Belgian Investment Company for Developing Countries is a VC fund backing Financial Services. See 61 investments, check sizes, portfolio and contact details…

- Type: VC Fund
- Location: Brussels, Belgium
- Total investments: 61
- Last investment: Mar 2026
- Lead investor: 64%
- Last updated: Aug 2026
- X (Twitter): https://www.twitter.com/bio_investments
- Website: http://www.bio-invest.be/

Belgian Investment Company for Developing Countries is a VC fund in Brussels focused on Financial Services and Finance. BIO is to support a strong private sector in developing and/or emerging countries, to enable them to gain access to growth and sustainable.

## Contacts

5 contacts available for Belgian Investment Company for Developing Countries. Shizune tracks 1 team members at Belgian Investment Company for Developing Countries. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/belgian-investment-company-for-developing-countries?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Debt Financing | $2.7M–$40M |
| Non-Equity Assistance | $16k–$89k |
| Venture - Series Unknown | $28k–$7.1M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Financial Services | 32 | 52% |
| Finance | 18 | 30% |
| Banking | 13 | 21% |
| FinTech | 7 | 11% |
| Food and Beverage | 6 | 10% |

56 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 24 | 39% |
| Non-equity Assistance | 14 | 23% |
| Venture - Series Unknown | 10 | 16% |
| Grant | 3 | 5% |
| Private Equity | 2 | 3% |

9 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Kenya | 5 | 8% |
| Ghana | 3 | 5% |
| Belgium | 3 | 5% |
| Indonesia | 3 | 5% |
| Mali | 2 | 3% |

30 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Luuk Zonneveld | CEO | 1 | https://shizune.co/investors/profile/luuk-zonneveld |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Orchidia Pharmaceutical | Orchidia Pharmaceutical is a manufacturing company that provides ophthalmic drugs, food supplements, and cosmeceutical products. |  |  | Mar 11, 2026 |  |
| Amartha | Amartha is a financial technology company that connects micro and SME business partners with investors. | $55M | Debt Financing | May 08, 2025 |  |
| Access Bank | Access Bank provides banking products and services to individual and business customers in Ghana. It offers standard savings and current, access advantage, solo, and premier accounts. The company also provides online banking services that include ATM, online access, and point-of-sale terminal services; and bills payment and Western Union moneytransfer services. | $314.7M | Debt Financing | Jul 16, 2024 |  |
| Mutual Trust Bank | Mutual Trust Bank is private commercial bank in Bangladesh. | $15M | Debt Financing | Jun 13, 2024 |  |
| TowerCo of Africa | TowerCo of Africa is a tower infrastructure company that provides innovative and comprehensive solutions for network connectivity and access to mobile communications. It is a fully owned subsidiary of Axian Telecom. | $40M | Debt Financing | Mar 07, 2024 |  |
| Gebana | Gebana is an e-commerce platform that provides online fair trade & organic foods. | $6.5M | Debt Financing | Jul 01, 2023 |  |
| Alterfin | Alterfin focuses on providing financial assistants to the developing countries and economically backward people and communities. | $265.6K | Non-equity Assistance | Dec 13, 2022 |  |
| CIDRE IFD | CIDRE IFD is a private, non-profit social development entity that provides financial services. | $5.1M | Debt Financing | Dec 01, 2022 |  |
| Compagnie Africaine de Crédit | Compagnie Africaine de Crédit is a pan-African microfinance group focusing on income-generating loans and guarantees to unbanked MSMEs. | $20.3K | Non-equity Assistance | Nov 21, 2022 |  |
| KCB Group | KCB Group Plc is East Africa’s largest commercial bank that was established in 1896 in Kenya. Over the years, the Bank has grown and spread its wings into Tanzania, South Sudan, Uganda, Rwanda, Burundi, and Ethiopia (Rep). Further to the banking businesses in these markets, KCB Group owns the National Bank of Kenya, a Kenyan lender. Today KCB hasthe largest branch network in the region with 354 branches, 1,103 ATMs, and over 26,394 merchants and agents offering banking services on a 24/7 basis in East Africa. Additionally, KCB Group owns KCB Insurance Agency, KCB Capital Limited, KCB Foundation, and Kencom House Limited as non-banking businesses. This is complemented by mobile banking and internet banking services with 24hour contact center services for its customers to get in touch with the Bank. KCB has a wide network of correspondent relationships totaling over 200 banks across the globe and our customers are assured of seamless facilitation of their international trade requirements wherever they are. | $42.4K | Non-equity Assistance | Oct 27, 2022 |  |

10 of 61 investments shown.

## Co-investors
- [Oikocredit International](https://shizune.co/investors/profile/oikocredit-international) — VC Fund, 5 deals together
- [British International Investment](https://shizune.co/investors/profile/cdc-group) — VC Fund, 3 deals together
- [Finnfund](https://shizune.co/investors/profile/finnfund) — VC Fund, 3 deals together
- [Bamboo Capital Partners](https://shizune.co/investors/profile/bamboo-capital-partners-2) — VC Fund, 2 deals together
- [BlueOrchard Finance S A](https://shizune.co/investors/profile/blueorchard-finance-s-a) — VC Fund, 2 deals together
- [FMO](https://shizune.co/investors/profile/fmo) — VC Fund, 2 deals together

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## FAQ

### What does Belgian Investment Company for Developing Countries invest in?

Belgian Investment Company for Developing Countries invests primarily in Financial Services, Finance and Banking startups, most often at Debt Financing and Non-equity Assistance stage. Most of the 61 investments tracked by Shizune back companies in Kenya. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Belgian Investment Company for Developing Countries's check size?

Belgian Investment Company for Developing Countries typically joins rounds of $2.7M–$40M at Debt Financing, $16k–$89k at Non-Equity Assistance and $28k–$7.1M at Venture - Series Unknown. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Belgian Investment Company for Developing Countries participates in.

### How do I contact Belgian Investment Company for Developing Countries?

Public channels for Belgian Investment Company for Developing Countries include X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Belgian Investment Company for Developing Countries?

The team at Belgian Investment Company for Developing Countries includes Luuk Zonneveld (CEO). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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