Top 15 Retail VC (Venture Capital) Funds in Belgium in May 2025
A list of 15 VC (Venture Capital) funds that invest in Retail startups based in Belgium. We rank investors based on the number of investments they made in Retail companies from Belgium. We update this investor list every month.Top 15 Retail VC (Venture Capital) Funds in Belgium in May 2025
Investor | Retail Belgium investments |
---|---|
Limburgse Reconversie Maatschappij | 3 |
PMV | 2 |
Optiver | 1 |
ETF Partners | 1 |
SOSV | 1 |
BNP Paribas Fortis | 1 |
Spreds | 1 |
Force Over Mass Capital | 1 |
Vendis Capital | 1 |
Korys | 1 |
ING Group | 1 |
The Craftory | 1 |
LeanSquare | 1 |
KPN Ventures | 1 |
Angelwise | 1 |
Oxygen for growth - LRM
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Investment focus
- Information Technology, Software, Biotechnology
- Funding Round, Series A, Seed
- Belgium, United States, The Netherlands
Portfolio highlights
- Cumul.io — Create powerful dashboards in minutes. Share with your teams, or integrate in your platform. Drive growth in your business today!
- 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.
- Raw Stadia — Raw Stadia is a sports technology company that specializes in surface player interactions.
Do and dare company
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Investment focus
- Software, Biotechnology, Health Care
- Series A, Seed, Series B
- Belgium, United States, The Netherlands
Portfolio highlights
- Nobi — Fall detection for the elderly at your home or in a residential care center with the smart Nobi lamp. Nobi ensures that you can be helped quickly.
- Apideck — Integrate and monitor APIs at warp speed. Apideck is the fastest way for developers to build integrations. Connect new APIs in minutes instead of days.
- 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
As a global market maker, Optiver works to make the world's markets fairer, more transparent and more efficient for everyone.
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Investment focus
- FinTech, Finance, Stock Exchanges
- Series A, Seed, Series C
- United States, Belgium, The Netherlands
Portfolio highlights
- Auros — We develop world class technology to implement arbitrage and other trading strategies within the crypto space.
- BMLL Technologies — BMLL Technologies Ltd. operates cloud based technology platform that offers machine learning and inference framework for common limit order book problems.
- Sk3w Technologies — Sk3w Technologies specializes in providing exchange access solutions.
ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Its funds come from institutional investors, global corporations, and family offices. The firm creates value by investing in and supporting great European companies that deliver Sustainability Through Innovation.
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Investment focus
- Software, Renewable Energy, Information Technology
- Funding Round, Series A, Series B
- United Kingdom, France, Germany
Portfolio highlights
- Hubcycle — Hub cycle converts fruit, vegetable waste into raw materials for the hygiene and food industries.
- Next Sense — Next Sense creates climate-neutral buildings with data insights, simulations, and AI control.
- Beams — Beams is a new renovation platform. We offer a seamless, end-to-end service to plan, design and build every room in your home.
SOSV is a global, deep tech venture capital firm that operates the HAX and IndieBio startup development programs focused on human and planetary health. SOSV invests $500,000 in startups at their inception as they onboard either HAX or IndieBio for a 4-6 month period designed to accelerate the raise of their next institutional round. SOSV joins thelater rounds of HAX and IndieBio graduates.
HAX, based in a 35,000 sq ft facility in Newark, NJ, is equipped with machine tools, 3D printers, chemical, electrical and mechanical engineering labs, as well as on-staff engineering and design experts. SOSV's IndieBio has locations in NYC and San Francisco, both of which offer extensive services and facilities to founders including on-site BSL-2 labs, well equipped lab benches and hoods, and advanced lab equipment, such as chromatography equipment.
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Investment focus
- Biotechnology, Health Care, Software
- Seed, Convertible Note, Pre-Seed
- United States, India, United Kingdom
Portfolio highlights
- MixRift — MIXRIFT - game developers specialized in Mixed Reality
- unspun — From 3D scan to perfect fitting custom jeans. unspun makes each pair of jeans unique to your actual body and design. On a mission to reduce global carbon emissions by 1%. As seen in Fast Company's World Changing Ideas, Time's Best Inventions, and PopSci's Best of What's New. Welcome to the future of apparel.
- Mesa Quantum — Unlock the potential of chip-scale quantum sensing for enhanced Position, Navigation, And Timing capabilities. Explore Mesa Quantum's practical solutions.
BNP Paribas Fortis is a bank that provides personal and business banking services.
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Investment focus
- Biotechnology, Logistics, Pharmaceutical
- Debt Financing, Funding Round, Series B
- Belgium, United States, Germany
Portfolio highlights
- Aphea.Bio — . .sustainableagriculture-section {. backgroundcolor: fff;. boxshadow: 0 0.40rem 0.40rem rgba(0, 0, 0, 0.25);. display: flex;. flexdirection: column;. overflow: hidden;. backgroundsize: cover;. }.. .herobanner {. display: flex;. flexdirection: column;. position: relative
- Hexa — eFounders partners with talented co-founders to build the future of product-led SaaS.
- Global Infrastructure Partners — A leading global, independent infrastructure fund manager.
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
- Health Care, Information Technology, Food and Beverage
- Series A, Seed, Series B
- Belgium, France
Portfolio highlights
- Opinum — What is Opinum Data Hub? Our Data Hub is a secured Cloud-based platform that allows energy and environmental actors to centralise, enhance, analyse, and share data.
- 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.
Force Over Mass Capital is an FCA regulated venture capital firm focused on early stage technology investments across UK and Europe. We invest in B2B innovation across four verticals, i.e. Fintech, Artificial Intelligence, SaaS and Industry 4.0.FOM cap operates both seed and scale-up funds to support early stage businesses through their growthjourney.
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Investment focus
- Software, Information Technology, FinTech
- Seed, Series A, Funding Round
- United Kingdom, United States, Germany
Portfolio highlights
- Barte — VBarte is a benchmark for B2B interactions. They designed it to automate payment procedures in Latin America. They optimize cash flow management for small and midsize enterprises through automated payments and revenue-based financing, enabling users to get easy access to financial metrics and credit payments.
- Apaleo — Transform your hospitality business with an open platform. Easily connect 3rd party applications to build a best-in-class tech stack for your hotel
- SentientSports — SentientSports is revolutionising the sports industry by unlocking the full potential of AI in sporting organisations.
Vendis Capital is an independent private equity firm that focuses on building and investing in small- to medium-sized branded consumer companies in Europe. Its flexible capital structure includes both development capital and buyout capital.Vendis Capital supports entrepreneurs and their companies through various stages of development. It helpsits clients in establishing strategic roadmaps, planning and facilitating management additions, evaluating and executing acquisitions, and establishing proper monitoring and reporting tools.Vendis Capital was founded in 2009 and is headquartered in Diegem, Vlaams-Brabant.
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Investment focus
- Retail, E-Commerce, Manufacturing
- Private Equity, Funding Round
- The Netherlands, Belgium, France
Portfolio highlights
- Kamera Express — Kamera Express - De Kamera Superstore voor Foto, Video, Objectieven, Lenzen, Accessoires en toebehoren, Studio en Licht, Verrekijkers, Telescopen, Computer, Media en meer
- Skins Cosmetics — Skins Cosmetics is a cosmetic shop that sells skin cosmetics and beauty products.
- Pink Gellac — Pink Gellac is a digital native and direct-to-consumer premium nail polish brand with a distinctive colour offering. Pink Gellac is known for its distinctive on-trend colour offering and its salon-like quality.
Korys is the name chosen by the Colruyt family for their investment structure. The name Korys is derived from the Latin word for hazelnut tree – Corylus - which is at the origin of the Colruyt name.Their multi-disciplinary approach enables us to create a well-balanced, diversified portfolio of listed stocks and bonds, private equity funds, anddirect participations in small and medium-sized companies. Through their investments, they aim to make a positive impact on people and the planet, while generating attractive returns. A “three P” approach (People, Planet, Profit) forms the cornerstone of their investment strategy. They invest for the long term, as they realize that it takes time to achieve the sustainable impact they are aiming for. They focus their investments in sectors in which they have built substantial expertise as a team: Cleantech, consumer goods & retail and life sciences.
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Investment focus
- Biotechnology, Information Technology, Renewable Energy
- Funding Round, Series A, Series B
- Belgium, The Netherlands, Germany
Portfolio highlights
- Greenely — Greenely is the electricity company that optimizes your electricity use using smart technology in an app. We help you take control of your consumption.
- OroraTech — From safeguarding forests and ecosystems to protecting communities and critical assets, OroraTech's advanced technology and reliable insights address challenges, mitigate risks, and drive meaningful impact.
- PanTera — PanTera wants to bring a new hope to cancer patients by enabling the widespread use of radiopharmaceuticals for personalised treatment of tumors
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services. They serve more than 85 million private, corporate and institutional customers in Europe, North and Latin America, Asia and Australia. They draw on our experience and expertise, their commitment to excellent service andtheir global scale to meet the needs of a broad customer base, comprising individuals, families, small businesses, large corporations, institutions and governments.
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Investment focus
- Energy, Renewable Energy, FinTech
- Debt Financing, Post-IPO Debt, Funding Round
- United Kingdom, United States, The Netherlands
Portfolio highlights
- Neoen — Neoen is an independent energy company, develops, finances, builds, and operates power plants based on renewable energies in France, Portugal, Australia, Mexico, Egypt, and El Salvador. It operates solar, wind, and biomass power plants. The company, through its subsidiaries, also specializes in the development of marine renewable energy projects inFrance; supports photovoltaic project developers and investors in the design, construction, operation, and maintenance of solar power plants in France and abroad; and develops solar and wind farms.
- Enfinity Global — We develop value added solutions to accelerate the transition to a sustainable global energy economy
- STX Group — Founded in 2005, STX Group provides access to renewable energy, biofuels, energy efficiency and carbon markets. We're hiring!
The alternative growth equity and consumer venture capital fund based in London and San Francisco. We invest in consumer brands with a positive social impact. We are Cause Capital.
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Investment focus
- Health Care, Consumer Goods, Retail
- Series A, Series B, Funding Round
- United States, United Kingdom, Chile
Portfolio highlights
- Needed — Prenatal vitamins leave most women depleted, so we redesigned the Prenatal Multi from the ground-up, and paired it with the Omega-3 (DHA and EPA), Collagen Protein, and Pre/Probiotic that mamas need. Take them before, during, and after pregnancy (and while breastfeeding) for optimal prenatal and postpartum nourishment.
- Edgard & Cooper — Edgard & Cooper offers foods for dogs and cats made with natural and nutritious ingredients. Their products are made with fresh meat and simple ingredients making it more balanced than over-processed pet food. Edgard & Cooper was founded in 2014 by Louis Chalabi and Jürgen Degrande and is headquartered in Kortrijk, Belgium.
- NotCo — We are reinventing the foods we love to eat! Same great flavor, but made from plants. Meet the future of food. Why not?
New Economy Startups Investor & Accelerator
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Investment focus
- Software, Music, Internet
- Seed, Funding Round, Series A
- Belgium, France, United States
Portfolio highlights
- e-peas — Discover e-peas, pioneer of the Ambient IoT concept since 2014, which offers the most efficient solutions on the market to make your devices more energy self-sufficient: AEMs.
- LinkByCar — LinkByCar specializes in leveraging artificial intelligence and sensor data from connected vehicles to predict mechanical issues accurately. The company aggregates data across various automotive manufacturers, offering comprehensive solutions as a neutral third party. This approach enables the anticipation of vehicle maintenance needs, enhancingthe driving experience by ensuring reliability and safety. LinkByCar's technology focuses on the personalization of driving experiences and supports the evolving landscape of mobility, including connected vehicles, autonomous driving, and carpooling. The company serves as a bridge between automotive data and actionable insights, catering to the needs of vehicle owners and manufacturers alike.
- Bridge.audio — Bridge is for everyone working with music and audio. We provide private workspaces to manage, share, and connect better.
KPN Ventures is a corporate venture arm of KPN that aims to partner with innovative technology companies, providing access to capital, expertise, network, and customer channels. It focuses on early growth-stage European companies in networking technology, internet of things, smart home, digital healthcare, cyber security, mobile and video (OTT)services, cloud computing, data, and analytics. It began operation on June 1, 2015, with its headquarters in Rotterdam in the Netherlands.
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Investment focus
- Software, Internet of Things, Information Technology
- Series A, Seed, Series B
- The Netherlands, Belgium, Germany
Portfolio highlights
- Perlego — Perlego is an online library subscription service for textbooks and non-fiction titles. Having partnered with over 3,000 of the world's best publishers, it gives its users unlimited access to over 650,000 eBooks and publications via an affordable monthly subscription. It aims to make learning accessible to all. It was founded in 2016 and isheadquartered in London, England.
- Wirepas — Wireless mesh connectivity for industrial IoT. Proven, ultra-reliable and scalable. Lowest total cost of ownership. The best mesh for IoT.
- BOX ID Systems — BOX ID Systems develops and offers an end-to-end location & process mining solution to cost effectively track millions of logistics assets digitally throughout the industrial supply chain across Europe and the World - including site-to-site, on-premises and indoor buildings digital twin of supply chain processes. The system is built on aspecialized analytics software platform, sensorik tracking devices and efficient data-, device- and user-management tools, including functions to support process automation and optimization. Industrial and automotive production customers benefit from making their logistics processes more efficient and cost optimized, with 100% transparency within their critical processes throughout the entire supply chain.
Angelwise Vlaams Investeringsfonds
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Investment focus
- Software, SaaS, Marine Technology
- Seed, Series A, Funding Round
- Belgium, The Netherlands
Portfolio highlights
- Azumuta — Azumuta, the #1 industry-leading tool that fully supports operators by centralizing all knowledge, on-the-floor training and communication.
- xyzt.ai — The big data platform to easily visualize and analyze any spatio-temporal data. Scaling to billions of records.
- Accurat — Accurat provides real-word shopper insights to support retail decision making with unprecedented accuracy. Our proprietary technology, platform and algorithms understand behaviour in high detail.
Investors by industry
Impact
Biotech
Gaming
FinTech
Google
Energy
Proptech
Marketplace
Consumer
Hardware
Artificial intelligence
Health Care
Climate
Community
EdTech
Sustainability
Venture Capital
Clean Energy
Real Estate
Financial Services
Video Games
B2B
Education
Publishing
Finance
Food and Beverage
Beauty
Infrastructure
Web3
Photography
Retail
Big Data
Organic Food
Payments
Social Media
Medical
Internet
Manufacturing
eSports
Construction
Digital Media
Art
Local
Sports
Music
Enterprise Software
Social Network
Wellness
Email
Franchise
Android
Mobile
Legal
Mobile Advertising
Platforms
Cannabis
Hospitality
Biotechnology
Travel
Fitness
Recruiting
Automotive
Medical Device
Social
Crowdfunding
Wine And Spirits
CleanTech
Transportation
Mobile Apps
InsurTech
Enterprise
LGBT
Fashion
Oil and Gas
Film
Life Science
Theatre
Non Profit
Renewable Energy
SaaS
Sporting Goods
Restaurants
Social Impact
Celebrity
Software
Cryptocurrency
Machine Learning
Agriculture (agtech)
Media (entertainment)
Facebook
Blockchain
Investors by country
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VC (Venture Capital) Funds in Belgium by industry
Restaurants
Financial Services
Education
Finance
Food and Beverage
Payments
Medical
Medical Device
Wellness
Internet
Social Media
EdTech
Manufacturing
Digital Media
Mobile
Blockchain
Legal
Construction
Software
Sports
Enterprise Software
Hospitality
Automotive
Music
InsurTech
Recruiting
FinTech
Biotechnology
Enterprise
Consumer
Health Care
Biotech
Energy
Sustainability
Impact
SaaS
Marketplace
Artificial intelligence
Community
Gaming
Real Estate
Infrastructure
Fashion
Web3
B2B
Life Science
Publishing
Clean Energy
Renewable Energy
CleanTech
Climate
Transportation
Big Data
Platforms
Proptech
Mobile Apps
Hardware
Media (entertainment)
Cryptocurrency
Agriculture (agtech)
Machine Learning
Fitness
Photography
Retail