Growth
Top 20 Venture Capital Firms in Belgium for Startups in 2025
Written by
Lineke Kruisinga
Published on
May 14, 2025
Written by
Published on
Belgium’s startup ecosystem is thriving from biotech and fintech to cleantech and SaaS. Whether you’re a university spinout, a mission-driven founder, or a fast-scaling tech startup, these VC firms bring the capital, expertise, and networks to help you grow.This list ranks the most active VCs by deal volume, so you can find the right partners for your next round.
Location: Brussels
Finance&invest.brussels fuels Brussels’ regional economy, backing startups and scale-ups in sectors like fintech, civic tech, and sustainability.
💰 Size: €5K–€150K
📍 Stage: Early
🌐 Finance&invest.brussels
Location: Ghent
Volta Ventures focuses on early-stage internet and software startups in the Benelux, helping them find markets, hire talent, and raise follow-on capital.
💰 Size: €300K–€2M
📍 Stage: Seed
🌐 Volta Ventures
Location: Brussels
Theodorus leads seed and Series A rounds in biotech, medtech, digital, and engineering startups. They provide access to expert syndicates, grants, and strategic guidance.
💰 Size: €250K–€2.5M
📍 Stage: Seed to Series A+
🌐 Theodorus
Location: Leuven
Capricorn is one of Belgium’s most experienced VCs, backing companies in digital, health, and cleantech. They manage several funds and bring deep expertise to founders shaping the future.
💰 Size: €1M–€6M
📍 Stage: Seed to Series B
🌐 Capricorn Partners
Location: Antwerp, Ghent
Pitchdrive is a founder-first, hands-on pre-seed VC helping startups get from pitch to launch with speed, clarity, and strategic support. Focused on SaaS, marketplaces, and AI, they help founders hit their first growth milestones fast.
💰 Size: €100K–€500K
📍 Stage: Pre-seed to Seed
🌐 Pitchdrive
Location: Brussels
Smartfin backs B2B tech companies across Europe, helping them scale internationally with capital, growth strategies, and partnerships.
💰 Size: €500K–€25M
📍 Stage: Seed to Series A+
🌐 Smartfin
Location: Brussels
Ninepointfive specializes in corporate venturing, co-investing with brands like Telenet to help early- and growth-stage startups scale fast. Their focus: grit, ambition, and shared success.
💰 Size: €500K–€7.5M
📍 Stage: Seed to Series A
🌐 Ninepointfive Ventures
Location: Belgium
ScaleFund supports early-stage startups with global potential, helping them bridge the gap from seed capital to scale.
💰 Size: €300K–€500K
📍 Stage: Early
🌐 ScaleFund
Location: Ghent
V-Bio Ventures is a life sciences VC focused on transforming scientific innovations into real-world impact, with a focus on therapeutics, diagnostics, and sustainable agriculture.
💰 Size: Undisclosed
📍 Stage: Early
🌐 V-Bio Ventures
Location: Brussels
Astanor Ventures is an impact investor transforming the agrifood system. They back founders using innovation to restore sustainability in food and agriculture.
💰 Size: $20M–$50M
📍 Stage: Seed to Early Growth
🌐 Astanor Ventures
Location: Limburg
LRM backs early-stage startups across sectors, offering venture capital, mezzanine loans, and infrastructure investments to drive economic growth in Limburg.
💰 Size: Undisclosed
📍 Stage: Early
🌐 LRM
Location: Wallonia
SRIW supports companies in Wallonia aiming for international growth, providing investment, acquisitions support, and working capital.
💰 Size: Undisclosed
📍 Stage: Multistage
🌐 SRIW
Location: Antwerp
Gimv is one of Belgium’s largest private equity investors, supporting mid-sized companies in healthcare, smart industries, and sustainable cities across Europe.
💰 Size: €5M–€75M
📍 Stage: Multistage
🌐 Gimv
Location: Brussels (pan-European)
Force Over Mass invests in B2B innovation across fintech, AI, and SaaS, managing early-stage and scale-up funds across Europe.
💰 Size: Varies
📍 Stage: Seed to Series B
🌐 Force Over Mass
Location: Brussels
Inventures backs early-stage startups aligned with the UN Sustainable Development Goals, combining social impact with strong financial returns.
💰 Size: €1M–€3M
📍 Stage: Seed to Series A
🌐 Inventures
Location: Belgium
Startup Factory is a corporate venture builder offering not just funding, but also acceleration, incubation, and operational support to early startups.
💰 Size: €100K
📍 Stage: Early
🌐 Startup Factory
Location: Brussels
BlackFin backs fintech, insurtech, and regtech companies across Europe, helping them accelerate growth through funding and M&A strategies.
💰 Size: €1M–€3M
📍 Stage: Series A–C
🌐 BlackFin Tech
Location: Brussels (global)
FinWise supports fundraising for high-potential startups in tech, fintech, medtech, and more, offering capital and strategic partnerships.
💰 Size: €500K–€10M
📍 Stage: Late Seed to Series A
🌐 FinWise
Location: Ghent
Hummingbird Ventures is an agile investor known for backing ambitious founders in emerging markets and breakthrough technologies.
💰 Size: Varies
📍 Stage: Early to Growth
Location: Brussels (global)
AtlasInvest focuses on global energy assets, investing in both conventional and renewable energy companies, with a growing focus on digitalization and sustainability.
💰 Size: Undisclosed
📍 Stage: Multistage
🌐 AtlasInvest
Belgium’s VC landscape is packed with specialized firms from regional economic players to global impact investors. Whether you’re launching your first product or preparing to scale, align your pitch with the right investor, and let these top VCs help you break through.
Also good to read:
⏩️ Top Nordic Venture Capital Firms For Startups (2025)
⏩️ Top 20 Venture Capital Firms in Germany for Startups in 2025
⏩️ Top 20 Venture Capital Firms in the UK for Startups in 2025
We're always looking for new partners and investment possibilities:
🌱 Pre-seed and seed stage (ticket size €250k-1M)
🏎 Highly product and scale driven
🇪🇺 European focussed
🕸 Industry agnostic
