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Top 50 SaaS VC Funds & Investors in Belgium (September 2026)

The most active venture capital funds investing in Belgium SaaS startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Belgium SaaS startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
PMV
VC Fund
71 Belgium, United States, The Netherlands Seed, Series A, Series B Software, Biotechnology, Health Care $1M–$43M
Volta Ventures
VC Fund
43 Belgium, The Netherlands, United States Seed, Series A, Pre-Seed Software, Information Technology, SaaS $850k–$8.8M
Limburgse Reconversie Maatschappij
VC Fund
40 Belgium, The Netherlands, United States Seed, Series A Information Technology, Software, Biotechnology $658k–$11M
Pitchdrive
VC Fund
33 Belgium, United Kingdom, United States Pre-Seed, Seed, Series A Software, Artificial Intelligence, SaaS $110k–$4.8M
SmartFin
VC Fund
25 Belgium, The Netherlands, Turkey Series A, Series B, Seed Software, SaaS, Information Technology $549k–$30M
Fortino Capital
VC Fund
22 Belgium, The Netherlands, Germany Series A, Seed, Venture - Series Unknown Software, Information Technology, SaaS $2M–$24M
Seeder Fund
VC Fund
22 Belgium, Luxembourg, France Seed, Pre-Seed, Series A Software, Information Technology, SaaS $212k–$12M
WING by Digital Wallonia
VC Fund
22 Belgium Seed, Convertible Note, Series A Software, Health Care, SaaS $61k–$12M
Qbic Fund
VC Fund
20 Belgium, The Netherlands Seed, Series A Biotechnology, Software, Health Care $1.3M–$34M
LeanSquare
VC Fund
19 Belgium, France, United States Seed, Venture - Series Unknown, Series A Software, Music, Information Technology $257k–$19M
Capricorn Partners
VC Fund
18 Belgium, The Netherlands, United States Series A, Series B Biotechnology, Health Care, Software $3.3M–$45M
Syndicate One
VC Fund
17 Belgium, United Kingdom, United States Pre-Seed, Seed, Series A Artificial Intelligence, Software, SaaS $1M–$20M
Belfius Bank
VC Fund
13 Belgium, The Netherlands, France Debt Financing, Venture - Series Unknown, Seed Software, SaaS, Artificial Intelligence $291k–$382M
Be Angels
VC Fund
12 Belgium, France, Luxembourg Seed, Pre-Seed, Venture - Series Unknown SaaS, Software, Information Technology $78k–$1.5M
Angelwise
VC Fund
12 Belgium, The Netherlands Seed, Pre-Seed Software, SaaS, Information Technology $873k–$2.9M
Ark Angels Activator Fund
VC Fund
12 Belgium Series A, Venture - Series Unknown, Seed Software, Information Technology, SaaS $932k–$7.8M
S.R.I.W.
VC Fund
12 Belgium, United States, Spain Venture - Series Unknown, Series A Health Care, Biotechnology, Manufacturing $422k–$51M
Spreds
VC Fund
12 Belgium, France Seed, Series A, Pre-Seed Information Technology, Food and Beverage, Software $97k–$2.5M
Finance.Brussels
VC Fund
12 Belgium, France Seed, Series A, Venture - Series Unknown Software, Information Technology, SaaS $1.5M–$16M
Flanders Innovation and Entrepreneurship (VLAIO)
VC Fund
11 Belgium, Israel, Germany Grant, Pre-Seed, Seed Biotechnology, Health Care, Software $160k–$3.2M
Sambrinvest
VC Fund
11 Belgium, France, Spain Seed, Series A, Series B Biotechnology, Health Care, Medical $544k–$49M
Gemma Frisius Fund
VC Fund
11 Belgium, France, United Kingdom Seed, Series A, Series B Biotechnology, Medical, Software $500k–$84M
Newion
VC Fund
10 The Netherlands, Belgium, Germany Series A, Seed, Series B Software, SaaS, Information Technology $1.1M–$66M
Saffelberg Investments
VC Fund
10 Belgium, Australia, United States Seed, Series A, Private Equity Information Technology, Software, SaaS $1.2M–$40M
Peak
VC Fund
10 The Netherlands, Germany, Sweden Seed, Pre-Seed, Series A Software, Information Technology, Artificial Intelligence $570k–$17M
Meusinvest (Noshaq)
VC Fund
10 Belgium, France, Germany Series A, Seed, Venture - Series Unknown Biotechnology, Health Care, Medical $137k–$16M
Inventures SA
VC Fund
9 Belgium, France, United Kingdom Series A, Seed, Series B Health Care, Software, Biotechnology $67k–$21M
The Faktory Fund
VC Fund
9 Belgium, France, United States Seed, Venture - Series Unknown, Pre-Seed Software, Analytics, Information Technology $700k–$22M
KBC
VC Fund
9 Belgium, United States, The Netherlands Seed, Series A, Pre-Seed Biotechnology, Health Care, Software $425k–$65M
Agentschap Innoveren & Ondernemen
VC Fund
8 Belgium, Italy, Israel Grant, Pre-Seed, Seed Biotechnology, Health Care, Software $106k–$3.2M
welovefounders
VC Fund
8 France, Belgium Seed, Pre-Seed Artificial Intelligence, CRM, SaaS $1.4M–$4.8M
Pamica NV
VC Fund
7 Belgium, Germany, United States Seed, Series A, Venture - Series Unknown Software, FinTech, Finance $1.2M–$11M
Innovation Fund
VC Fund
7 Belgium, France, Luxembourg Seed, Venture - Series Unknown, Series A Health Care, Manufacturing, Chemical $318k–$8.8M
BNP Paribas Fortis
VC Fund
7 Belgium, United States, France Debt Financing, Series B, Series A Biotechnology, Software, Manufacturing $363k–$1000M
Gimv
VC Fund
7 Belgium, United States, France Series B, Series A Biotechnology, Health Care, Medical $3.3M–$79M
The CoFoundry
VC Fund
7 Belgium, The Netherlands, United States Seed, Series A, Venture - Series Unknown Software, SaaS, Security $912k–$4.3M
KPN Ventures
VC Fund
7 The Netherlands, United States, Belgium Series A, Series B, Series C Software, Internet of Things, Information Technology $2.3M–$180M
imec.xpand
VC Fund
6 Belgium, United States, Germany Seed, Series A, Series B Semiconductor, Manufacturing, Medical Device $3.3M–$100M
Index Ventures
VC Fund
6 United States, United Kingdom, France Series A, Series B, Seed Software, E-Commerce, Internet $1.5M–$100M
Entourage
VC Fund
6 Italy, Sweden, Belgium Seed, Series A Artificial Intelligence, Legal, Marketing $2.2M–$19M
Big Bang Ventures
VC Fund
6 Belgium, The Netherlands, United States Series A, Series B Software, Cloud Computing, Apps $1M–$9M
Brustart
VC Fund
6 Belgium Seed, Angel, Series A Apps, Music, Big Data $472k–$932k
ING Group
VC Fund
6 United Kingdom, United States, The Netherlands Debt Financing, Post-IPO Debt, Series B Energy, Renewable Energy, Solar $15M–$3B
b2venture
VC Fund
5 Germany, Switzerland, United Kingdom Series A, Seed, Series B Software, Health Care, Information Technology $1.4M–$52M
E-Merge
VC Fund
5 United States, Belgium, Spain Seed, Series A Software, SaaS, E-Commerce $213k–$25M
NewSchool.vc
VC Fund
5 Belgium Pre-Seed, Seed Software, SaaS, Hospitality $576k–$4.8M
Everywhere Ventures
VC Fund
5 United States, Australia, India Pre-Seed, Seed, Series A Software, Health Care, FinTech $500k–$20M
Miles Ahead
VC Fund
5 Belgium, Ireland, United Kingdom Seed, Pre-Seed Software, Big Data, Robotics $1M–$3.3M
HERAN Partners
VC Fund
5 United Kingdom, Belgium, The Netherlands Series A, Seed Health Care, Artificial Intelligence, Hospital $2M–$23M
Force Over Mass Capital
VC Fund
5 United Kingdom, United States, Germany Seed, Series A, Pre-Seed Software, Artificial Intelligence, Information Technology $241k–$18M
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Investor list

PMV
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 71 investments in Belgium SaaS startups, 8 in the past 12 months

Do and dare company

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Investment focus

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

Investor stats

  • Total investments: 159
  • Round size: Seed $1M–$4M; Series A $3M–$40M; Series B $6.6M–$43M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Biotalys — Biotalys is an Agricultural Technology (AgTech) company that employs its proprietary Agrobody technology platform to develop crop and food protection products. The company develops a new generation of protein-based biocontrol solutions, shaping the future of sustainable and safe food supply. Biotalys' unique protein-based biocontrols combinethe high-performance characteristics of chemicals with the clean safety profile of biologicals, making them ideal crop protection agents for both pre- and post-harvest applications.It was incorporated in 2013 and is based in the Biotech hub in Ghent, Belgium.
  • Borro — Cashless deposit system
  • Storm — Storm is een producent van hernieuwbare energie. Samen met ons team ontwikkelen, bouwen en exploiteren we duurzame energieprojecten over het hele land: van wind- en zonneparken tot snellaadstations en batterijopslag. Dit telkens tegen een zo laag mogelijke maatschappelijke kost.
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Volta Ventures
VC Fund · Gent, Oost-Vlaanderen, Belgium · 43 investments in Belgium SaaS startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Kyvvu — Kyvvu is an Agent Security Kernel (ASK): an in-process security layer that checks every action an AI agent takes — against the full path of the task so far — and allows, warns, or blocks it before it runs, deterministically, in under a millisecond, without your data ever leaving your environment.
  • Ringtime — Make more placements with the same team. The AI screening agent that reaches frontline candidates via WhatsApp and phone, in 22+ languages.
  • Quadric — quadric.io is a Burlingame, CA-based processor technology company. The q16 Processor is the most comprehensive AI processor that handles any AI and high-performance edge workload.
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Limburgse Reconversie Maatschappij
VC Fund · Hasselt, Limburg, Belgium · 40 investments in Belgium SaaS startups

Oxygen for growth - LRM

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Investment focus

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

Investor stats

  • Total investments: 98
  • Round size: Seed $658k–$5.2M; Series A $1.6M–$11M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • Monsana — Monsana's AI-powered platform empowers both patients and healthcare professionals in their search for the perfect clinical trial. Each eligibility criterion is validated based on your unstructured textual medical records, allowing highly accurate matching with experimental treatments.
  • ADLC — ADLC employs drone technology to deliver logistics services, allowing businesses to implement drone-based solutions without having to manage them in-house. The company is focused on enhancing last-mile delivery in maritime and offshore environments. ADLC now conducts drone delivery services in the Port of Antwerp in collaboration with SGS, atesting and certification company, and works with companies such as BASF. Its drones have reduced delivery times and environmental effect, boosting efficiency sixfold and lowering CO2 emissions by up to 80% for petrochemical sample deliveries.
  • Optiflux — Optiflux automatiseert het bewaarbeheer van vers fruit met slimme AI & vision-technologie. Minder verlies, meer winst voor teler & handelaar.
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Pitchdrive
VC Fund · Antwerp, Antwerpen, Belgium · 33 investments in Belgium SaaS startups

Pitchdrive is a pre-seed investor run by experienced tech entrepreneurs backing founders during their crazy startup ride. Buckle up.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Belgium, United Kingdom, United States

Investor stats

  • Total investments: 93
  • Round size: Seed $1M–$4.8M; Pre-Seed $110k–$2.5M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely actively investing — fresh fund, raised $69M in 2026

Portfolio highlights

  • OTIV — OTIV offers autonomous technology to make your railway operations in complex environment safer and more efficient.
  • Donna — Meet Donna, the AI assistant built for field sales teams. Save time, cut admin, and close more deals with less effort.
  • Driven — Driven is the easiest platform to design smart incentives, align targets, and boost overall sales performance.
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SmartFin
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 25 investments in Belgium SaaS startups

Venture capital fund focussing on European B2B technology companies.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: Belgium, The Netherlands, Turkey

Investor stats

  • Total investments: 62
  • Round size: Seed $549k–$6.7M; Series A $5M–$13M; Series B $3M–$30M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely actively investing — fresh fund, raised $257M in 2025

Portfolio highlights

  • Timefold — Experts in PlanningAI for complex scheduling and routing
  • Auditstage — The first AI-powered workspace for financial auditors. Automate manual workflows, draft working papers, and scale your firm with human-in-the-loop AI agents.
  • BrightAnalytics — Intuitive, reliable and fast. Consolidated reporting from BrightAnalytics.
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Fortino Capital
VC Fund · Zaventem, Vlaams-Brabant, Belgium · 22 investments in Belgium SaaS startups, 7 in the past 12 months

We partner with exceptional B2B Software entrepreneurs across Northwestern Europe.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Series A, Seed, Venture - Series Unknown
  • Geography: Belgium, The Netherlands, Germany

Investor stats

  • Total investments: 74
  • Round size: Seed $2M–$6M; Series A $4.3M–$17M; Venture - Series Unknown $2.6M–$24M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: May invest from a new fund soon — raised $105M in 2021

Portfolio highlights

  • Mkind — Mkind builds intelligent robots for high-mix manufacturing, developing advanced automation solutions that can adapt to diverse production requirements, improve operational efficiency, and support manufacturers in handling complex, low-volume, and frequently changing product lines.
  • Operations1 — With Operations1 the B2B software company cioplenu GmbH delivers a cloud software for adaptive employee-led production processes (Adaptive Process Execution). The solution provides intuitive worker guidance and connects the organization in manufacturing companies. Customers such as Bosch, Stabilo or Trumpf benefit with Operations1 from increasedproductivity, enhanced quality and higher machine availability. At its core, the modular solution uses digital documents such as work instructions and checklists for process guidance and is used in a wide range of application areas such as maintenance, quality inspection, HSSE, audits and in manufacturing and assembly processes. Around the document core, planning, analysis, and incident management functionalities complete the offering to holistically accompany operational employees in their daily work.The clipboard becomes a tablet, complexity becomes simplicity, blindspot becomes transparency.
  • Billy Grace — Billy Grace is AI Marketing Optimization Software that can revolutionize your online marketing efforts. Experience the unprecedented benefits of more precision, intelligence, and efficiency.
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Seeder Fund
VC Fund · Anderlecht, Brussels Hoofdstedelijk Gewest, Belgium · 22 investments in Belgium SaaS startups, 9 in the past 12 months

Seeder Fund is an early-stage financing and growth capital for digital startups. For young start-ups with a start in commercial traction it offers seed funding of up to EUR 200,000 to validate their value proposition and product-market fit. For start-ups preparing for Series A it provides funding of up to EUR 300,000 to confirm the growth potentialand move closer to break-even. For scale-ups, the Seeder Fund can also help finance the company's growth, this time in the form of a capital stake of up to 1,000,000 EUR.

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Investment focus

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

Investor stats

  • Total investments: 38
  • Round size: Seed $390k–$2.6M; Pre-Seed $212k–$2.4M; Series A $3.5M–$12M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Chift — Offer native integrations within your software. Your clients connect your software to their tools in one click. Connect easily to Accounting, POS, Invoicing, e-commerce, etc.
  • Visiblie — We get your brand recommended by ChatGPT, Perplexity, Gemini, Claude and every major AI search engine in weeks. Done for you.
  • Kando — Voice & Visual assistant and software for caregiver
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WING by Digital Wallonia
VC Fund · Liège, Liege, Belgium · 22 investments in Belgium SaaS startups

W.IN.G by Digital Wallonia invests in SAAS, advanced tech and deep tech startups (AI, drones, medtech, IOT,...). W.IN.G brings smart money by helping startups by bi-weekly interactions and providing an operating teams (seasonal entrepreneurs being hands-on with the portfolio).

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Investment focus

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

Investor stats

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

Portfolio highlights

  • IONNYK — Discover IONNYK, the ePaper Digital Art Frame for art and personal photography, combining Electronic Paper (E Ink), patented technology and elegant home design.
  • MYOCENE — Myocene is a Liège-based sports technology company which creates unique and innovative devices for measuring muscle fatigue and performance.
  • Soil Capital Belgium — Discover Europe's first certified, multi-national carbon farming programme that rewards regenerative agriculture.
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Qbic Fund
VC Fund · Belgium, Wisconsin, United States · 20 investments in Belgium SaaS 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: 62
  • Round size: Seed $1.3M–$7.4M; Series A $1.6M–$34M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $54M in 2022

Portfolio highlights

  • Firecell — Firecell is a Telecommunications Industry.
  • Eyeo — eyeo revolutionizes imaging with color splitter sensors. Capture sharper, brighter images in low light using optical waveguide innovation, discover how it works
  • Sightera Biosciences — Revolutionizing drug discovery through AI-powered analysis of patient-derived models for breakthrough therapeutics in cancer and regenerative medicine.
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LeanSquare
VC Fund · Liège, Liege, Belgium · 19 investments in Belgium SaaS startups

New Economy Startups Investor & Accelerator

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Investment focus

  • Industry: Software, Music, Information Technology
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 48
  • Round size: Seed $376k–$2.4M; Series A $257k–$12M; Venture - Series Unknown $830k–$19M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • neuroClues — An easy-to-use eye-tracking environment to help practitioners instantaneously quantify their clinical exam
  • Gamevestor — Be more than a player. Invest in expert-selected video game projects and earn a share of their commercial revenues.
  • Tickets for Good — Tickets for Good is a ticketing platform for live events and entertainment.
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Access 48,091 investors

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

Browse database — It's Free!
Capricorn Partners
VC Fund · Leuven, Vlaams-Brabant, Belgium · 18 investments in Belgium SaaS startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Endo Tools Therapeutics — Endo Tools Therapeutics is dedicated to the development of innovative devices that provide therapeutic interventions for gastric conditions
  • Delft Advanced Biorenewables — We enable the bio-economy by improving the productivity of fermentations with our in-situ product recovery (ISPR) technology.
  • Trillium Renewable Chemicals — Trillium Renewable Chemicals manufactures chemicals from renewable feedstocks used in a variety of industrially important applications. The company was founded in 2021 and based in Knoxville, Tennessee.
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Syndicate One
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 17 investments in Belgium SaaS startups

Syndicate One helps Belgian startups scale up their businesses through early-stage financing, relevant advice and mentorship.

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Investment focus

  • Industry: Artificial Intelligence, Software, SaaS
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Belgium, United Kingdom, United States

Investor stats

  • Total investments: 33
  • Round size: Seed $1.5M–$13M; Pre-Seed $1M–$2.5M; Series A $11M–$20M
  • Lead/follow: 15% lead, 85% follow
  • Last fund: Likely still investing — raised $4.8M in 2024

Portfolio highlights

  • Jurimesh — Jurimesh checks every clause in the data room against expert-authored risk guides, with every finding cited back to the source.
  • Belfort — Enabling Fully Homomorphic Encryption through Hardware Acceleration
  • Polysense — Increase yield, reduce waste, and optimize food production with Polysense's AI-powered inline quality control. Real-time data for potatoes, bakery & more.
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Belfius Bank
VC Fund · Saint-josse-ten-noode, Brussels Hoofdstedelijk Gewest, Belgium · 13 investments in Belgium SaaS startups, 8 in the past 12 months

A for-profit PLC founded to meet local authority needs.

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Investment focus

  • Industry: Software, SaaS, Artificial Intelligence
  • Stage:Debt Financing, Venture - Series Unknown, Seed
  • Geography: Belgium, The Netherlands, France

Investor stats

  • Total investments: 29
  • Round size: Seed $291k–$1.9M; Debt Financing $1.1M–$382M; Venture - Series Unknown $1.1M–$116M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Lizy — Goedkoper tweedehands leasen. LIZY is uw referentieplatform voor onmiddellijk beschikbare autoleasing. | Lize Leasing
  • Storm — Storm is een producent van hernieuwbare energie. Samen met ons team ontwikkelen, bouwen en exploiteren we duurzame energieprojecten over het hele land: van wind- en zonneparken tot snellaadstations en batterijopslag. Dit telkens tegen een zo laag mogelijke maatschappelijke kost.
  • GIGA Storage — Grootschalige energieopslag is de ontbrekende schakel in de energie transitie. Als de wind niet waait en de zon niet schijnt levert GIGA Storage duurzame
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Be Angels
VC Fund · Louvain-la-neuve, Vlaams-Brabant, Belgium · 12 investments in Belgium SaaS startups

Early stage Entrepreneurs Coaching and FinancingOne of Europe's leading Business Angels Networks. We connect innovative growth companies to equity finance and coaching by experienced angel investors. The network is 250 members strong and has been assisting innovative entrepreneurs to find financing for more than 10 millions Euros in thelast 4 years.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • ChainComply — ChainComply provides enhanced KYT due diligence solutions for banks and VASPs and relieves them from stressing over incoming transfers from crypto exchanges. 
ChainComply develops a SaaS tool that scans the client's crypto exchange and blockchain transaction history to reveal the source of funds of crypto holders. The company solutionsimplifies complex transaction streams, and then it identifies high-risk transactions and patterns, enabling AML teams to understand their clients better and meet regulatory obligations efficiently.
  • Visiblie — We get your brand recommended by ChatGPT, Perplexity, Gemini, Claude and every major AI search engine in weeks. Done for you.
  • TalentGuide — Unlock workforce potential with Talentguide's skills intelligence platform, transforming ambition into measurable ability through actionable insights and personalized development paths.
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Angelwise
VC Fund · Hasselt, Limburg, Belgium · 12 investments in Belgium SaaS startups

Angelwise Vlaams Investeringsfonds

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Investment focus

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

Investor stats

  • Total investments: 17
  • Round size: Seed $873k–$2.9M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — raised $23M in 2022

Portfolio highlights

  • Adomate — Adomate helps performance teams turn customer signals, competitor insights, and brand data into on-brand ad concepts with AI workflows they build and control.
  • Azumuta — Unite Connected Worker and MES capabilities to build the execution platform that coordinates, governs, and continuously improves operational work on the shop floor, across humans, AI agents, and robotic systems
  • Powerhouse — Powerhouse is your all-in-one solution for turning complex property operations into streamlined, automated workflows. Built on Salesforce for seamless integrations and powerful insights.
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Ark Angels Activator Fund
VC Fund · Hasselt, Limburg, Belgium · 12 investments in Belgium SaaS startups

Ark Angels Activator Fund SA is a closed venture capital fund (closed-end private equity investment fund) with a capital of 14.8 M EUR. The Fund is recognized as ARKIV and has obtained the status of Private Privak under Belgian law. The Fund is managed by a management company set up by BAN Vlaanderen VZW, ING Belgium & the two fund managers.The Fund initially acted primarily as a co-investor in investments made by business angels who are members of BAN Vlaanderen, but then also co-invested with other capital providers. It focuses not only on investments in young growth companies, but also on companies in the growth or transfer phase with an operating office in Flanders,

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Investment focus

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

Investor stats

  • Total investments: 20
  • Round size: Seed $932k–$1.6M; Series A $1.3M–$4.9M; Venture - Series Unknown $1.6M–$7.8M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

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

The S.R.I.W. Group is an institution at the heart of the financial market that assists entrepreneurs in creating and developing businesses in the Walloon region. It reflects the effort of Wallonian industry in facing the challenges of the creation of economic value in the 21st century. Since its creation in 1979, the Société Régionaled’Investissement de Wallonie has continuously been expanding its abilities to adapt and anticipate as well as its flexibility in order to meet the requirements of its partners who are confronted with the evolution of the world economy. The principles of good governance, a strong business culture and shared values at the heart of the Group constitute important assets to capture the changing realities of the market and progress in a sustainable development perspective.

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Investment focus

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

Investor stats

  • Total investments: 111
  • Round size: Series A $422k–$31M; Venture - Series Unknown $2.7M–$51M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Univercells — Mix parlay, atau lebih dikenal sebagai parlay bola atau hanya parlay, merupakan taruhan judi bola online yang menggabungkan minimal 2 hingga 10 tim pertandingan sepak bola menjadi 1 tiket taruhan.
  • Intressa Vascular — Intressa Vascular provides innovative solutions to address life-threatening cardiovascular conditions such as aortic dissection.
  • Santero Therapeutics — This is the homepage of the website
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Spreds
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 12 investments in Belgium SaaS 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, Food and Beverage, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Belgium, France

Investor stats

  • Total investments: 33
  • Round size: Seed $97k–$627k; Pre-Seed $150k–$197k; Series A $248k–$2.5M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • Jelloow — Jelloow your virtual marketing navigator. Matching brands with likeminded marketing agencies.
  • PlayTreks — Supercharge your music business with PlayTreks, the all-in-one workspace for music professionals. Built for indie artists, artist managers and label teams.
  • 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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Finance.Brussels
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 12 investments in Belgium SaaS startups

Regional Investment Company of Brussels

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Investment focus

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

Investor stats

  • Total investments: 26
  • Round size: Seed $1.5M–$5.4M; Series A $2.3M–$7M; Venture - Series Unknown $4.2M–$16M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • AI-Blox — A modular & flexible hardware and software platform for edge AI applications.
  • Otamiser — Otamiser Booster® is an automated solution that helps hoteliers and revenue managers secure bookings by improving a property's online presence on major OTAs such as Booking.com, Expedia, Trips.com, Kayak, Airbnb, and VRBO. It maximizes occupancy rates and revenue through optimizing 951 essential parameters, ensuring continuous optimization,full automation, seamless integration with CMS, PMS, and RMS systems, dedicated customer support, integrations with Cubilis and Hostaway, and a customized API for Revenue Management software.
  • AILOS Robotics — AILOS Robotics offers advanced solutions in robotics and automation for various industries.
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Flanders Innovation and Entrepreneurship (VLAIO)
VC Fund · Brussel, Brussels Hoofdstedelijk Gewest, Belgium · 11 investments in Belgium SaaS startups

Basic and applied research fund of the Flemish regional government in Belgium

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Grant, Pre-Seed, Seed
  • Geography: Belgium, Israel, Germany

Investor stats

  • Total investments: 36
  • Round size: Seed $517k–$1.9M; Grant $285k–$3.2M; Pre-Seed $160k–$2.2M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • WeHave — Enter the cookieless era of advertising with WeHave's first-party data collaboration. Leverage external data in a gdpr compliant way.
  • Summ.link — Summ.link works to transform enterprises by enhancing the employee experience through strategy and strong insights based on trustworthy data, which leads to improvements in digital processes. By putting a strong emphasis on data intelligence and people analytics, it seeks to provide everyone in the organization with actionable information.Application development, big data, AI, cloud solutions, and other services are among their offerings.
  • Gorilla — We empower Energy Retailers in pricing, forecasting and reporting with data-driven solutions in boosting speed and flexibility.
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Sambrinvest
VC Fund · Gosselies, Hainaut, Belgium · 11 investments in Belgium SaaS 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: 40
  • Round size: Seed $544k–$24M; Series A $1M–$49M; Series B $4.4M–$45M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Brenus Pharma — Brenus Pharma develops off-the-shelf, next-generation in vivo immunotherapies designed to unlock the immune response against solid tumors.
  • Vertical Compute — Vertical Compute offers chiplet-based technology that cuts data movement to achieve up to 80% energy savings.
  • 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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Gemma Frisius Fund
VC Fund · Leuven, Vlaams-Brabant, Belgium · 11 investments in Belgium SaaS startups

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

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Investment focus

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

Investor stats

  • Total investments: 41
  • Round size: Seed $500k–$4.7M; Series A $932k–$84M; Series B $4.7M–$24M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • Runeasi — The first scientifically validated wearable solution to measure impact while running and detect how your body responds to it - Perform real-time biomechanical assessments - Guide your athletes and patients with actionable insights to help them run more efficiently and recover from injuries with confidence
  • Optiflux — Optiflux automatiseert het bewaarbeheer van vers fruit met slimme AI & vision-technologie. Minder verlies, meer winst voor teler & handelaar.
  • Aspect Analytics — Beyond bioinformatics. Building intelligent platform solutions for mass spectrometry imaging data analysis. #AI4MSI
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Newion
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 10 investments in Belgium SaaS startups, 8 in the past 12 months

Experienced over decades, focused on the next ones. Close to our founders, not above them. Serious about building companies. Human in how we invest.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: The Netherlands, Belgium, Germany

Investor stats

  • Total investments: 86
  • Round size: Seed $1.2M–$6.5M; Series A $1.1M–$10M; Series B $5.4M–$66M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely still investing — raised $129M in 2022

Portfolio highlights

  • Nopan — We help large merchants, fintechs, and PSPs turn account and wallet payment methods into measurable revenue drivers.
  • Lightbringer — Experience the future of patent services with Lightbringer. Our AI-driven platform accelerates your patent process, ensuring efficiency and expertise from world-class patent attorneys.
  • BirdsView — BirdsView is to 'assist small e-commerce firms in transforming their own consumer data into effective, tailored marketing tactics and turning one-time purchases into devoted patrons.
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Saffelberg Investments
VC Fund · Gooik, Vlaams-Brabant, Belgium · 10 investments in Belgium SaaS startups

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

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Investment focus

  • Industry: Information Technology, Software, SaaS
  • Stage:Seed, Series A, Private Equity
  • Geography: Belgium, Australia, United States

Investor stats

  • Total investments: 20
  • Round size: Seed $1.5M–$2.4M; Series A $2.4M–$5.7M; Private Equity $1.2M–$40M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Deminor Litigation Funding — Founded in 1990, Deminor is a leading privately-owned and international litigation funder with offices in Brussels, London, Hamburg, New York, Hong Kong, Madrid, Milan, and Luxembourg. Deminor’s name, derived from the French ‘défense des minoritaires’, reflects its origins in providing services to minority shareholders. Deminor is still very muchdefined by the pursuit of good causes and its determination to restore justice for clients.Combining skill sets from 16 different nationalities and 14 languages, Deminor has funded cases in 18 jurisdictions including the Americas, the Middle East and offshore centres such as the Cayman Islands and Bermuda. With specialists in arbitration, intellectual property, competition, corporate & post-M&A, investments, enforcement, and tax litigation, Deminor has achieved positive recoveries for clients in more than 81% of the cases it has funded, against an industry average of 70%.In addition to funding one-to-one commercial claims, Deminor originates, syndicates and funds group actions. In 2018, Deminor was instrumental in reaching the largest ever settlement in Europe (EUR 1.3 bn in the Fortis case). Equally, the company does not shy away from being a first-mover in jurisdictions where funding has not been tested. It was the first funder to support collective actions in Italy and reached a landmark settlement in the Olympus securities action in Japan (2017).Deminor is immensely proud of its diverse client base, which includes some of the world’s most innovative and entrepreneurial companies, in addition to globe’s leading public and private pension funds, asset managers, sovereign wealth funds. Out of the ten biggest investors worldwide, four are recurring clients of Deminor.
  • Iristick — Iristick smart glasses are the most balanced and lightweight on the market. A phone-tethered, comfortable hands-free solution for the deskless workforce.
  • Radian Arc — Radian Arc is a content delivery network (CDN) that sets up broadband services around the world to make it easier to send video or gaming data to consumers.
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Peak
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 10 investments in Belgium SaaS startups

European early-stage venture capital fund backed 100% by founders. Helping Pre-Seed and Seed SaaS, Marketplaces & Platforms with their Go-To-Market.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: The Netherlands, Germany, Sweden

Investor stats

  • Total investments: 120
  • Round size: Seed $570k–$5M; Pre-Seed $781k–$2.5M; Series A $6.5M–$17M
  • Lead/follow: 60% lead, 40% follow
  • Last fund: Likely still investing — raised $158M in 2022

Portfolio highlights

  • DREM — Simplifying distributed energy saving solutions
  • VoiceLine — VoiceLine is AI-powered field sales revenue intelligence. Document any customer interactions in seconds, get actionable insights and boost sales performance. Start today!
  • microsynetics GmbH — Developing hardware and software to help elderly people gaining more freedom and quality of life. Our first product is an emergency wristband which works together with an app, also connecting relatives via smartphone and phone integrated in the emergency wristband. The automated AI-based fall detection guarantees help even when the user - afteraccident - isn't capable anymore of activating the emergency call via integrated button.
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Meusinvest (Noshaq)
VC Fund · Liège, Liege, Belgium · 10 investments in Belgium SaaS startups

Noshaq offers financial services to help businesses develop.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Le Fourgon — Le Fourgon provides contained drinks for home delivery. They offer milk, water, beer, wine, fruit juice, and sodas. They allow customers to have their drinks delivered free of charge during the day.
  • Allegro Biotech — Allegro has developed the world’s-first custom-tailored, durable, biocompatible, anisotropic, regenerative meniscus cartilage, providing immediate support while also leverage the body’s own healing potential to regenerate human cartilage (proliferation and differentiation of fibrochondrocyte cells).
  • Amyl Therapeutics — Amyl Therapeutics is a preclinical stage biotechnology company. Amyl Therapeutics uses a novel mechanism to bind to the amyloid fold of toxic protein aggregates of various types, including antibody light chain (AL) or transthyretin (TTR) aggregates, which accumulate in peripheral organs to cause systemic amyloidosis diseases, but also amyloid-β(Aβ), Tau, and α-synuclein aggregates, which accumulate in the brain to cause Alzheimer's and Parkinson's diseases.
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Inventures SA
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 9 investments in Belgium SaaS startups

Inventures is a European venture capital fund that builds a better world through a portfolio of investments in sustainable businesses.The firm has two funds: Inventures I & Inventures II.Inventures was created to support early stage smart and innovative European businesses, to support sustainable job growth and empower entrepreneurs.Inventures empowers citizenship co-investments through a crowdfunding platform, MyMicroInvest.

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Investment focus

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

Investor stats

  • Total investments: 50
  • Round size: Seed $67k–$2.1M; Series A $422k–$14M; Series B $165k–$21M
  • Lead/follow: 8% lead, 92% follow
  • Last fund: May invest from a new fund soon — last raise in 2016

Portfolio highlights

  • BiOceanOr — BiOceanOr harnessed the power of Marine Biology and AI to deliver bio-guided services that optimize fish welfare and fish growth, while supporting aquaculture sustainability standards
  • myskillcamp — Myskillcamp is a digital learning platform and educational design support service. Myskillcamp supports their customers in the digital transformation of their company and the launch of their Digital Learning project. From the audit of needs to the design of engaging educational devices, through a pilot phase, they make a point of honor to adapt thedigital to the specificities of each and give it meaning.With their online platform, businesses can manage their learner communities and connect all their partners in one place. Their tool also allows businesses to structure training spaces by skills, trades, brands within camps. In parallel, businesses can create educational content from scratch, select a map in their marketplace, or plan sessions in-class. Businesses can organize the distribution of their training to a single learner or to a whole group.
  • Octave — Optimize energy use with Octave's battery storage (BESS) and energy management system (EMS). Reduce costs, increase flexibility.
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The Faktory Fund
VC Fund · Liège, Liege, Belgium · 9 investments in Belgium SaaS startups

The Faktory is a hub for business ideas based on any disruptive technology with a high potential in international niche markets: ICT, Health, Environment, Media, Broadcast and more.

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Investment focus

  • Industry: Software, Analytics, Information Technology
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Belgium, France, United States

Investor stats

  • Total investments: 24
  • Round size: Seed $700k–$4.2M; Venture - Series Unknown $2.1M–$22M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • IVEX — IVEX offers repeatable and scalable testing and validation data analytics solutions for ADAS/AD vehicles.
  • e-peas — Discover e-peas, pioneer of the Ambient IoT concept since 2014, which offers the most efficient energy harvesting pmics on the market to make your devices more energy self-sufficient: AEMs.
  • xyzt.ai — xyzt.ai is a SaaS platform for ANALYTICS, REPORTING and VISUALIZATION of big location data in the Maritime & Ports, Smart City and Logistics industries. EASY & EFFORTLESS
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KBC
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 9 investments in Belgium SaaS startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Qivalis — Qivalis is a financial technology company designed for payments, settlements, and financial services.
  • Octave — Optimize energy use with Octave's battery storage (BESS) and energy management system (EMS). Reduce costs, increase flexibility.
  • Ion Beam Applications — Ion Beam Applications is a Belgium-based company that develops and markets technologies, pharmaceutical products and tailored solutions for the healthcare sector, with emphasis on cancer diagnosis and therapy. IBA is also active in the sterilization and ionization field. The Company operates through two business segments, namely the pharmaceuticalssegment, which includes radiopharmaceuticals and the equipments segment, which encompasses proton therapy, particle accelerators and dosimetry.
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Agentschap Innoveren & Ondernemen
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 8 investments in Belgium SaaS startups

Agentschap Innoveren & Ondernemen is a government agency, charged with implementing the economic, innovation and enterprise policy.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Grant, Pre-Seed, Seed
  • Geography: Belgium, Italy, Israel

Investor stats

  • Total investments: 50
  • Round size: Grant $233k–$3.2M; Pre-Seed $106k–$2.2M
  • Lead/follow: 80% lead, 20% follow

Portfolio highlights

  • Exalate — The only real-time bidirectional integration solution built specifically for complex cross-team collaboration cases and cross-company integration scenarios.
  • Protealis — Sustainable plant proteins for Europe​
  • Confo Therapeutics — Confo Therapeutics is a clinical-stage company committed to accelerating novel GPCR-directed medicines for metabolic & endocrine diseases.
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welovefounders
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 8 investments in Belgium SaaS startups, 6 in the past 12 months

Bold Founders, we're here for the ride

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Investment focus

  • Industry: Artificial Intelligence, CRM, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: France, Belgium

Investor stats

  • Total investments: 12
  • Round size: Seed $1.6M–$4.8M; Pre-Seed $1.4M–$1.7M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: Likely still investing — raised $27M in 2023

Portfolio highlights

  • Dockflow — The easy to use, secure and flexible platform changes the way partners in maritime logistics chains to collaborate. It provides a structured way for users to share documents, shipping information and monitor tradeflows in real-time.
  • TwoWay — AI-powered real-time intelligence that transforms chat communications into structured trading insights for financial institutions.
  • Presage Labs — Frontier AI research lab building world models for cloud infrastructure.
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Pamica NV
VC Fund · Antwerp, Antwerpen, Belgium · 7 investments in Belgium SaaS startups

Pamica NV is the investment company of Michel Akkermans.

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Investment focus

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

Investor stats

  • Total investments: 11
  • Round size: Seed $1.2M–$5.2M; Series A $5.5M–$8.8M; Venture - Series Unknown $1.5M–$11M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • b.fine — With a singular focus on regulatory reporting and data, Regnology delivers powerful solutions for financial institutions, regulators and tax authorities.
  • Cashforce — Cashforce is a ‘next-generation’ Cash forecasting & Working Capital management platform, focused on automation and integration - bridging the gap between the CFO, finance, AR/ AP and treasury. The platform is unique in its category because of the seamless integration with numerous ERPs & banking systems, the ability to drill down totransaction level details, and the intelligent AI-based simulation engine that enables multiple cash flow scenarios, forecasts & impact analysis. Cashforce is a global company with offices in New York, Antwerp, Amsterdam, Copenhagen & London and provides Cash visibility to multinational corporates across various industries in over 120 countries worldwide.
  • 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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Innovation Fund
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 7 investments in Belgium SaaS startups

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

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Investment focus

  • Industry: Health Care, Manufacturing, Chemical
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Belgium, France, Luxembourg

Investor stats

  • Total investments: 31
  • Round size: Seed $318k–$6M; Series A $2.3M–$5M; Venture - Series Unknown $1.1M–$8.8M
  • Lead/follow: 26% lead, 74% 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.
  • Fyteko — For a more sustainable agriculture
  • Graftys — Graftys, an Aix-en-Provence, France-based early stage company focused on advanced bone biologics.
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BNP Paribas Fortis
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 7 investments in Belgium SaaS startups

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

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Investment focus

  • Industry: Biotechnology, Software, Manufacturing
  • Stage:Debt Financing, Series B, Series A
  • Geography: Belgium, United States, France

Investor stats

  • Total investments: 32
  • Round size: Series A $2M–$16M; Series B $9M–$109M; Debt Financing $363k–$1000M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Koc Holding — Koç Group is one of Turkey's largest industrial and services groups in terms of revenues, exports, research and development investments, patent portfolio, employees, taxes paid and market capitalization on the Borsa Istanbul. With consolidated revenues of $25.5 billion, it ranks among the world's Fortune 500 list. Koç Holding has leadingpositions with strong competitive advantages in various sectors, such as energy, automotive, consumer durables and finance. It has more than 97,000 employees and 10,000 dealers, agencies and after-sales service providers. Koç Group is celebrating its 90th anniversary.
  • Octave — Optimize energy use with Octave's battery storage (BESS) and energy management system (EMS). Reduce costs, increase flexibility.
  • Aedifica — Aedifica is a leading Belgian listed company investing in healthcare real estate in Europe (BE, DE, NL, UK, FI, IE, ES, FR & IT) - senior housing in particular
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Gimv
VC Fund · Antwerpen, Antwerpen, Belgium · 7 investments in Belgium SaaS startups

Gimv, a trusted European investment company, helps mid-market businesses create sustainable value through growth capital and expertise across diverse sectors.

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Investment focus

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

Investor stats

  • Total investments: 171
  • Round size: Series A $3.3M–$79M; Series B $8.8M–$73M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $838M in 2010

Portfolio highlights

  • spineart — Spineart is a privately held medical device company focused on simplifying the surgical act by designing, developing and promoting safe and efficient solutions to spine surgeons, operating room teams, and patients.
  • ActoGeniX — ActoGeniX is a biopharmaceutical company focused on the development and commercialization of a range of biological drugs. ActoGeniX was founded by Bernard Coulie and Mark Vaeck in 2006 and is based in Zwijnaarde, Belgium.
  • NovoPolymers — NovoPolymers NV is a company, with the vision and mission to develop and produce sustainable solutions for primarily the photovoltaic market.
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The CoFoundry
VC Fund · Antwerp, Antwerpen, Belgium · 7 investments in Belgium SaaS startups

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

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Investment focus

  • Industry: Software, SaaS, Security
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Belgium, The Netherlands, United States

Investor stats

  • Total investments: 14
  • Round size: Series A $912k–$4.3M
  • Lead/follow: 36% lead, 64% 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.
  • 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.
  • Vaultspeed — Save your teams months of headache with a no-code approach to automate your multi-source data integration, Data Vault modeling & ETL/DDL code generation.
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KPN Ventures
VC Fund · Rotterdam, Zuid-Holland, The Netherlands · 7 investments in Belgium SaaS startups

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, the 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

  • Industry: Software, Internet of Things, Information Technology
  • Stage:Series A, Series B, Series C
  • Geography: The Netherlands, United States, Belgium

Investor stats

  • Total investments: 49
  • Round size: Series A $2.3M–$15M; Series B $3.1M–$60M; Series C $24M–$180M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Perlego — Perlego is an online library subscription service for textbooks and non-fiction titles. Having partnered with over 3,000 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 is headquartered in London,England.
  • ElevenLabs — Create lifelike speech with our AI voice generator and voice agents platform. Access 5,000+ voices in 70+ languages with secure APIs and SDKs.
  • Openlayer — Openlayer is the AI governance and observability platform for regulated enterprises: one place to test, monitor, and govern every model, agent, and AI system your company runs.
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imec.xpand
VC Fund · Leuven, Vlaams-Brabant, Belgium · 6 investments in Belgium SaaS startups, 7 in the past 12 months

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: 55
  • Round size: Seed $3.3M–$23M; Series A $9.1M–$72M; Series B $12M–$100M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — raised $322M in 2024

Portfolio highlights

  • Eyeo — eyeo revolutionizes imaging with color splitter sensors. Capture sharper, brighter images in low light using optical waveguide innovation, discover how it works
  • Euclyd — Euclyd develops AI infrastructure designed to make advanced AI computing more efficient and scalable. Its platform combines programmable ASIC compute, processor-memory co-design, and system-level optimization to address power, memory, and infrastructure constraints. Its products include craftwerk, an agentic AI silicon platform, and CWS 32, an AIcomputing system focused on low-power exascale performance. Euclyd also develops silicon architecture, systems, firmware, compilers, and runtime software for AI infrastructure.
  • NEURA Robotics — Cognitive Robotics for Real-World Applications: NEURA Robotics enables safe and smart robot integration for Industry, Work and Everyday Life
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Index Ventures
VC Fund · San Francisco, California, United States · 6 investments in Belgium SaaS startups

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

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Investment focus

  • Industry: Software, E-Commerce, Internet
  • Stage:Series A, Series B, Seed
  • Geography: United States, United Kingdom, France

Investor stats

  • Total investments: 1537
  • Round size: Seed $1.5M–$15M; Series A $5M–$35M; Series B $12M–$100M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely actively investing — fresh fund, raised $400M in 2026

Portfolio highlights

  • Apron — Apron brings payments, expenses, and accounting together in one platform. Built for business owners, accountants, and finance teams.
  • Gluster — Gluster is an open source, distributed file system that is capable of scaling to several petabytes and handling many clients. In order to simplify the task of storing and managing the growth of unstructured data, Gluster has created and delivered open source scale-out cloud storage software. It allows enterprises to combine large numbers ofcommodity storage and compute resources into a high performance, virtualized, and centrally managed pool. Gluster has been deployed by hundreds of global enterprises and service providers across industries including media, healthcare, consumer internet, energy, and biotech. It is based on a stackable user space design and can deliver high performance for diverse workloads. It has many attributes that includes: Scalability and Performance, Global Namespace, Elastic Hash Algorithm, Elastic Volume Manager, and Standards-based. Gluster is privately-held and headquartered in Sunnyvale, California.
  • StorSimple — Learn how to migrate a StorSimple 8100 or 8600 appliance to Azure File Sync.
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Entourage
VC Fund · Belgium, Wisconsin, United States · 6 investments in Belgium SaaS startups

Entourage is a venture Studio and early stage VC that invests in early-stage B2B and SaaS sectors.

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Investment focus

  • Industry: Artificial Intelligence, Legal, Marketing
  • Stage:Seed, Series A
  • Geography: Italy, Sweden, Belgium

Investor stats

  • Total investments: 20
  • Round size: Seed $2.2M–$11M; Series A $7.5M–$19M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely still investing — raised $33M in 2024

Portfolio highlights

  • Chift — Offer native integrations within your software. Your clients connect your software to their tools in one click. Connect easily to Accounting, POS, Invoicing, e-commerce, etc.
  • CommerceClarity — Rebuilding catalog operations around AI agents.
  • Sightera Biosciences — Revolutionizing drug discovery through AI-powered analysis of patient-derived models for breakthrough therapeutics in cancer and regenerative medicine.
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Big Bang Ventures
VC Fund · Antwerpen, Antwerpen, Belgium · 6 investments in Belgium SaaS startups

Supporting Exceptional entrepreneurs. We value emotional intelligence as much as data, growing internal culture as much as growing revenue, and forming strong, personal bonds with founders. We recognize patterns where other don't.

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Investment focus

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

Investor stats

  • Total investments: 19
  • Round size: Series A $1M–$2.7M; Series B $6M–$9M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: May invest from a new fund soon — raised $36M in 2005

Portfolio highlights

  • Amplidata — From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum offers the most comprehensive and cost-efficient data management solutions.
  • Clear2Pay — Clear2Pay is an innovative payments technology company focused on delivering globally applicable solutions for secure, timely and streamlined payments processing. Clear2Pay's Open Payment Framework (OPF) enables financial institutions to improve internal payments processing efficiencies whilst at the same time providing their clients withbetter payment services that are faster, with richer payments related information.Clear2Pay's solutions within the Service- Oriented Architecture (SOA) based Open Payment Framework offer financial institutions the ability to process payments through a centralised payments engine that utilises a library of re-useable business services across all payment types. The bank can thus combine new services models with existing infrastructures, thereby protecting previous investments whilst gradually moving to a more modern efficient payments environment.
  • Racktivity — Racktivity, an innovator in next-generation power, energy and environmental management solutions offers the industry's only integrated hardware and software for critical infrastructures.The DCPM suite, a Service Provider Infrastructure & Data Center Performance Management System, measures, monitors and manages power across distributeddata centres and gives customers full visibility and control of their energy consumption while integrating seamlessly with other applications and PDU appliances.Racktivity's EnergySwitch family of smart Power Distribution Units (PDUs), and sensors equips infrastructures with the most advanced metering, switching and predictive analysis capabilities available on the market today.
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Brustart
VC Fund · Brussel, Brussels Hoofdstedelijk Gewest, Belgium · 6 investments in Belgium SaaS startups

More than financing alone!The Brussels Regional Investment provides financial support for the creation, reorganization and expansion of private corporations located in the Brussels Capital Region.The G.I.M.B. is an investment company with an overall mission that is open to the vast majority of economic sectors.Application through its ownfunds or quasi-equity funds helps GIMB SMEs in their creation and development: it brings about a financial leverage, to the extent that its intervention allows companies to obtain bank financing easier.Interventions are tailored to the specific nature of each project, either in the form of an investment in capital (minority interest) or in the form of a loan.Besides the investment in the strict sense, the company strives to be the promoters at any time to monitor and assist their company when a decision must be taken.Currently receive more than 350 Brussels companies, which insure thousands of workshops, support GIMB and its affiliates.

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Investment focus

  • Industry: Apps, Music, Big Data
  • Stage:Seed, Angel, Series A
  • Geography: Belgium

Investor stats

  • Total investments: 6
  • Round size: Seed $472k–$932k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Skwarel — SKWAREL is a collaborative web platform that aims to improve the exchange of information between trustees and their clients and to allow small businesses to rely on their accounting to benefit from real management tools .For trustees, the application helps manage accounting records by improving the automation of their work and communicating moreeasily with their clients. For small businesses, the application is presented as a dashboard and allows in particular to communicate with the trustee / accountant but also to anticipate the result, to follow the cash and budget control based on accounting data such as encoded by the trustee.
  • proUnity — The external talent matchmaker. PoUnity unites freelancers, suppliers and companies in cool new missions. The best talent wins and joins innovative projects.
  • MuuseLabs — MuuseLabs offers Jooki, jukebox that is designed for children. It enables children to play music and stories of their choice without the assistance of their parents. MuuseLabs was founded by Theodore Marescaux, Will Moffat, and Pieter Palmers in October 2014.
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ING Group
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 6 investments in Belgium SaaS startups, 30 in the past 12 months

Corporate site of ING, a global financial institution of Dutch origin, providing news, investor relations and general information

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Investment focus

  • Industry: Energy, Renewable Energy, Solar
  • Stage:Debt Financing, Post-IPO Debt, Series B
  • Geography: United Kingdom, United States, The Netherlands

Investor stats

  • Total investments: 130
  • Round size: Series B $15M–$160M; Post-IPO Debt $149M–$3B; Debt Financing $100M–$1.3B
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • DataVita — At DataVita they specialise in innovative, agile data services to drive Scotland’s business future. The Fortis datacentre, located in the heart of Scotland, provides the most advanced, scalable and secure colocation and integrated cloud services in the North of the UK.
  • Retina — Retina si occupa di realizzare infrastrutture nel Mezzogiorno per la produzione di biometano dalla conversione dei reflui zootecnici.
  • Return — We are a club of optimists
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b2venture
VC Fund · Saint Gallen, Sankt Gallen, Switzerland · 5 investments in Belgium SaaS startups

B2venture is a venture capital firm focused on early-stage investments in digital and industrial technology companies. B2venture invests EUR 100m+ per year in high-growth companies with ticket sizes from EUR 0.25m to 3.5m.

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Investment focus

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

Investor stats

  • Total investments: 272
  • Round size: Seed $1.4M–$8.8M; Series A $3.4M–$23M; Series B $6.9M–$52M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely actively investing — fresh fund, raised $179M in 2026

Portfolio highlights

  • Everlab — The preventative health service of the future. Detect disease early, improve wellbeing, and optimise performance.
  • Flyboard — Human-level AI voice agents at a fraction of the cost. Transform your customer engagement with intelligent automation.
  • Kiin Bio — Accelerate drug discovery with Virtual Scientists. Unified platform integrating 100+ specialized tools into one intelligent workflow.
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E-Merge
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 5 investments in Belgium SaaS startups

Find out if E-Merge is the right fit for your future career! Explore jobs, salary, equity, and funding information. Read about work-life balance, perks, benefits, and the company culture!

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Investment focus

  • Industry: Software, SaaS, E-Commerce
  • Stage:Seed, Series A
  • Geography: United States, Belgium, Spain

Investor stats

  • Total investments: 69
  • Round size: Seed $213k–$3.5M; Series A $700k–$25M
  • Lead/follow: 7% lead, 93% follow
  • Last fund: May invest from a new fund soon — raised $267k in 2019

Portfolio highlights

  • Invopop — Issue compliant invoices, globally
  • Work Today — Create one profile. Apply to thousands of jobs in minutes.
  • Anagram — Anagram is making vision care more affordable and accessible for providers and consumers. Thousands of eye care practices use Anagram to operate independently, process out-of-network benefits, and deliver better pricing on eyewear for their patients.
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NewSchool.vc
VC Fund · Knokke-heist, West-Vlaanderen, Belgium · 5 investments in Belgium SaaS startups

NewSchool.vc is an early-stage venture fund focused on investing in technology startups bringing innovation to traditional industries.

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Investment focus

  • Industry: Software, SaaS, Hospitality
  • Stage:Pre-Seed, Seed
  • Geography: Belgium

Investor stats

  • Total investments: 12
  • Round size: Seed $1.2M–$4.8M; Pre-Seed $576k–$2M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • NotiPark — NotiPark is a fully automated detection and payment solution for parking spaces on public roads using Artificial Intelligence.
  • Talentir — Talentir runs global payouts, carries the liability and makes them profitable. Pay creators, sellers and freelancers in 180+ countries in seconds.
  • Driven — Driven is the easiest platform to design smart incentives, align targets, and boost overall sales performance.
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Everywhere Ventures
VC Fund · New York, New York, United States · 5 investments in Belgium SaaS startups

Everywhere Ventures is a global pre-seed venture capital fund for founders, by founders. Click to read Everywhere VC, by Everywhere Ventures, a Substack publication with tens of thousands of subscribers.

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Investment focus

  • Industry: Software, Health Care, FinTech
  • Stage:Pre-Seed, Seed, Series A
  • Geography: United States, Australia, India

Investor stats

  • Total investments: 1093
  • Round size: Seed $1.2M–$6.5M; Pre-Seed $500k–$2.6M; Series A $8M–$20M
  • Lead/follow: 2% lead, 98% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Donna — Meet Donna, the AI assistant built for field sales teams. Save time, cut admin, and close more deals with less effort.
  • Suma Wealth — Meet Charlie, your AI financial coach inside the SUMA app. Get personalized budgeting, savings, and investing advice in English or Spanish.
  • Journey Live — Journey is shifting the way modern companies prioritize mental health. Our proactive, inclusive tools engage every employee, every day.
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Miles Ahead
VC Fund · Ghent, Oost-Vlaanderen, Belgium · 5 investments in Belgium SaaS startups

Miles Ahead is a Venture Studio that helps first-time founders of Deep Tech & AI startups to grow faster by producing and funding their business within an empowering environment.

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Investment focus

  • Industry: Software, Big Data, Robotics
  • Stage:Seed, Pre-Seed
  • Geography: Belgium, Ireland, United Kingdom

Investor stats

  • Total investments: 11
  • Round size: Seed $1M–$3.3M; Pre-Seed $1.1M–$2.3M
  • Lead/follow: 64% lead, 36% follow

Portfolio highlights

  • OTIV — OTIV offers autonomous technology to make your railway operations in complex environment safer and more efficient.
  • DevAlly — AI-powered accessibility compliance for product teams who ship fast
  • 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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HERAN Partners
VC Fund · Belgiek, West-Vlaanderen, Belgium · 5 investments in Belgium SaaS startups

HERAN PARTNERS is a Belgian-based investment fund founded by Annie Vereecken together with Katleen Vandersmissen, Joris Mortelmans and Herman Verrelst within the sector of MedTech and Digital Health. With a clear focus on European HealthTech, the fund provides venture & growth capital accompanied by a strong network, expertise and mentorship tostartups and scale-ups with a strong technology platform and market potential.

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Investment focus

  • Industry: Health Care, Artificial Intelligence, Hospital
  • Stage:Series A, Seed
  • Geography: United Kingdom, Belgium, The Netherlands

Investor stats

  • Total investments: 12
  • Round size: Seed $2M–$8.1M; Series A $12M–$23M
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • Pharmacelera — Improving pharmaceutical R+D productivity through a lean drug discovery process based on advanced computational methodologies.
  • Hypervision Surgical — Making surgeries more precise, safer and faster. Guiding the future of surgery using AI-powered hyperspectral imaging.
  • Broken String Biosciences — The next generation of genome-wide on- and off-target analysis in your own hands. Our INDUCE-seq platform provides precise off-target detection and genome-wide insights.
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Force Over Mass Capital
VC Fund · London, England, United Kingdom · 5 investments in Belgium SaaS startups

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

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United Kingdom, United States, Germany

Investor stats

  • Total investments: 197
  • Round size: Seed $420k–$4.8M; Pre-Seed $241k–$2.4M; Series A $3.1M–$18M
  • Lead/follow: 22% lead, 78% follow
  • Last fund: May invest from a new fund soon — raised $131M in 2020

Portfolio highlights

  • Finovox — Finovox provides a solution for detecting false documents. They offer investigative tools to analyze, understand, and explain fraud. Additionally, they provide users with hard evidence of fraud.
  • Artificial Labs — Build your future placement and underwriting strategy with Artificial's pioneering technology.
  • Stoa Corporation — Unlock perks when you save. Saving, reimagined - get high-value perks upfront, not small bank interest.
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SaaS VC funding in Belgium at a glance

Stats across 1k deals from 750 investors.

750
investors
in Belgium SaaS startups
1k
deals
in Belgium SaaS startups
$2M
median round
in Belgium SaaS startups
50%
lead investors
lead at least one round
32%
Seed
most common funding stage

Access all 750 VC funds in Belgium SaaS startups.

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