Top VCs for Belgian startups
Updated 23 Oct 2026
Venture capital firms
| # | Investor | Based in | Startups | Since 2024 | Best-funded companies |
|---|---|---|---|---|---|
| 1 | Pitchdrive | antwerp-antwerpen, Belgium | 12 | 7 | Bizzy, Donna, Otamiser |
| 2 | Seeder Fund | Anderlecht, Belgium | 10 | 3 | Chift, NOX Energy, Borro |
| 3 | Fortino Capital | antwerp-antwerpen, Belgium | 10 | 1 | Oqton, Teamleader, Vertuoza |
| 4 | Limburgse Reconversie Maatschappij | Hasselt, Belgium | 10 | 1 | Hyperfox, xyzt.ai, Thalento |
| 5 | Sambrinvest | Gosselies, Belgium | 8 | 1 | Amyl Therapeutics, cikisi, Smartbeam |
| 6 | SmartFin | Brussels, Belgium | 8 | 1 | NGDATA, Silverfin, Timefold |
| 7 | Volta Ventures | ghent-oost-vlaanderen, Belgium | 8 | 1 | SweepBright, Apicbase, Whale |
| 8 | Meusinvest (Noshaq) | Liège, Belgium | 7 | 3 | Amyl Therapeutics, CryoTherapeutics, Axithra |
| 9 | Angelwise | Hasselt, Belgium | 7 | 2 | Azumuta, Qollabi, cikisi |
| 10 | Qbic Fund | ghent-oost-vlaanderen, Belgium | 7 | 2 | Swave Photonics, MOLECUBES, Accelleran |
| 11 | LeanSquare | Liège, Belgium | 7 | 1 | ClimateCamp, Made & More, myskillcamp |
| 12 | BAN Vlaanderen | Hasselt, Belgium | 5 | 1 | Cheqroom, Oncomfort, Nomadesk |
| 13 | WING by Digital Wallonia | Liège, Belgium | 5 | 1 | Oncomfort, Phasya, MYOCENE |
| 14 | Capricorn Partners | Leuven, Belgium | 4 | 1 | NGDATA, Minze Health, LindaCare |
| 15 | Peak | Amsterdam, The Netherlands | 4 | 1 | Hello Customer, Enersee, Whale |
| 16 | Gimv | antwerp-antwerpen, Belgium | 4 | 0 | Nomadesk, Riaktr (formely Real Impact Analytics), Luma International |
| 17 | TCD Capital | Uccle, Belgium | 4 | 0 | FLYX.cloud, Sortlist, 3D-Side |
| 18 | Theodorus III | Brussels, Belgium | 4 | 0 | Virteo NV, Cascador Health, Kaspard |
| 19 | imec.xpand | Leuven, Belgium | 3 | 2 | Vertical Compute, Swave Photonics, Axithra |
| 20 | XAnge | Paris, France | 3 | 2 | Vertical Compute, Vertuoza, Sirona Technologies |
| 21 | LocalGlobe | London, United Kingdom | 3 | 1 | Awell Health, Sirona Technologies, Massive Media |
| 22 | Orsa | Marche-en-famenne, Belgium | 3 | 1 | cikisi, MYOCENE, Curvo |
| 23 | Inventures SA | Brussels, Belgium | 3 | 0 | Go Vocal, APROPLAN, 2houses |
| 24 | Newion | Amsterdam, The Netherlands | 3 | 0 | Apicbase, Deliverect, DataStories International |
| 25 | Pamica NV | antwerp-antwerpen, Belgium | 3 | 0 | Cashforce, Sentiance, b.fine |
| 26 | Saffelberg Investments | Gooik, Belgium | 3 | 0 | AllThingsTalk, Tangent Works, Pozyx |
Venture capital firms by startups in Belgium in their portfolio. Source: FundingWatcher. Data as of 23 October 2026. Base: 224 startups.
Accelerators, incubators and public funders
| # | Investor | Type | Based in | Startups | Since 2024 |
|---|---|---|---|---|---|
| 1 | PMV | Government investment office, Venture capital firm | Brussels, Belgium | 26 | 9 |
| 2 | imec.istart | Startup accelerator, Startup incubator | ghent-oost-vlaanderen, Belgium | 17 | 11 |
| 3 | Agentschap Innoveren & Ondernemen | Government investment office | Brussels, Belgium | 9 | 2 |
| 4 | Digital Attraxion | Startup accelerator, Venture capital firm | Charleroi, Belgium | 7 | 1 |
| 5 | Techstars | Startup accelerator, Venture capital firm | New City, United States | 5 | 1 |
| 6 | S.R.I.W. | Government investment office, Venture capital firm | Liège, Belgium | 4 | 0 |
| 7 | The Birdhouse | Startup accelerator | ghent-oost-vlaanderen, Belgium | 3 | 3 |
Accelerators, incubators and government investors by startups in Belgium. Source: FundingWatcher. Data as of 23 October 2026. Base: 224 startups.
Method
A startup counts for an investor when the investor is among the investors recorded for the company across all its rounds. The startups are companies headquartered in Belgium whose most recent round is pre-seed, seed, angel or Series A through J. "Since 2024" counts the companies whose most recent round is dated 1 January 2024 or later. Venture capital firms are investors typed as venture capital or micro VC and not also as accelerator, incubator or government office. An investor needs 3 companies to be ranked. Ties go to the higher count since 2024. Best-funded companies are the three with the most total funding.