# Top 50 Climate VC (Venture Capital) Funds in Belgium in October 2023

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Limburgse Reconversie Maatschappij | 12 | Belgium, United States, The Netherlands | Series A, Seed | Information Technology, Software, Biotechnology |
| Innovation Fund | 10 | Belgium, France, Luxembourg | Seed, Series A | Health Care, Manufacturing, Software |
| S.R.I.W. | 6 | Belgium, United States, Spain | Series A, Series B | Health Care, Biotechnology, Manufacturing |
| Gemma Frisius Fund | 6 | Belgium, France | Seed, Series B, Series A | Biotechnology, Health Care, Therapeutics |
| Gimv | 5 | Belgium, United States, France | Series B, Private Equity | Biotechnology, Health Care, Medical |
| PMV | 5 | Belgium, The Netherlands, United States | Series A, Seed | Software, Biotechnology, Health Care |
| Meusinvest (Noshaq) | 5 | Belgium, France, Germany | Seed, Series A | Health Care, Biotechnology, Medical |
| Qbic Fund | 5 | Belgium | Seed, Series A | Biotechnology, Software, Health Care |
| Finindus | 4 | Belgium, Sweden, The Netherlands | Series A, Seed | Manufacturing, Industrial, Renewable Energy |
| QBIC II | 4 | Belgium | Series B, Series A | Industrial, Biotechnology, Construction |
| The Faktory Fund | 4 | Belgium, France, United States | Seed, Pre-Seed | Software, Information Technology, Manufacturing |
| Capricorn Partners | 4 | Belgium, United States, The Netherlands | Series B, Series A | Biotechnology, Health Care, Software |
| HCVC | 3 | United States, France, United Kingdom | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, Manufacturing |
| Nuhma | 3 | Belgium | Seed, Series A | Battery, Software, GreenTech |
| KBC Focus Fund | 3 | Belgium, The Netherlands, Luxembourg | Seed, Series A | Electronics, Semiconductor, Manufacturing |
| Flanders Innovation and Entrepreneurship (VLAIO) | 2 | Belgium, Israel, Germany | Grant, Pre-Seed, Seed | Biotechnology, Health Care, Artificial Intelligence |
| Elia System Operator | 2 | Belgium, Germany, Macedonia | Seed, Series A, Private Equity | Energy, Solar, Software |
| ABB Technology Ventures | 2 | United States, United Kingdom, Israel | Series B, Series A | Software, Energy, Robotics |
| Industrya | 2 | Belgium, France | Seed | Industrial, B2B, SaaS |
| Buysse & Partners | 2 | Belgium, United Kingdom, The Netherlands | Series A, Seed | Software, Cloud Computing, FinTech |
| LeanSquare | 2 | Belgium, France, United States | Seed, Series A | Software, Music, Internet |
| Finance.Brussels | 2 | Belgium, France | Seed, Series A | Software, CleanTech, Information Technology |
| Namur Invest | 2 | Belgium | Series A, Seed | Health Care, Medical Device, Auctions |
| Greyhound Capital | 2 | United States, India, Japan | Series B, Seed, Series D | FinTech, Financial Services, Banking |
| Index Ventures | 2 | United States, United Kingdom, France | Series A, Series B, Seed | Software, E-Commerce, Internet |
| Ark Angels Activator Fund | 2 | Belgium | Series A, Seed | Software, Information Technology, SaaS |
| LRM | 2 | Belgium, The Netherlands | Seed | Manufacturing, Drones, Sensor |
| Fidimec | 2 | Belgium | Series A, Seed | Industrial, Semiconductor, Medical |
| The CoFoundry | 2 | Belgium, The Netherlands, United States | Seed, Series A | Software, Network Security, SaaS |
| SmartFin | 1 | Belgium, The Netherlands, Finland | Series B, Series A | Software, SaaS, Analytics |
| Gesval | 1 | Belgium | Seed | Medical, Software, Wellness |
| Apic Investments | 1 | Germany, Austria, Belgium | Series A, Seed | Real Estate, Software, Internet of Things |
| Takeda Ventures | 1 | United States, United Kingdom, Israel | Series A, Series B | Biotechnology, Health Care, Therapeutics |
| PMV Tina Fund | 1 | Belgium, Switzerland, The Netherlands | Series A, Series D, Series E | Manufacturing, Eyewear, Printing |
| Alychlo | 1 | Belgium, United States | Series D, Series E | CRM, Life Science, Artificial Intelligence |
| Eutopia VC | 1 | France, Belgium, Denmark | Seed, Series A | Retail, Food and Beverage, E-Commerce |
| Fortino Capital | 1 | Belgium, The Netherlands, France | Series A, Seed | Software, Information Technology, SaaS |
| Inventures SA | 1 | Belgium, France, United Kingdom | Series A, Seed, Series B | Health Care, Biotechnology, Manufacturing |
| Delaware | 1 | Belgium | Pre-Seed | Waste Management, Information Services, Supply Chain Management |
| Spreds | 1 | Belgium, France | Series A, Seed, Series B | Health Care, Information Technology, Food and Beverage |
| Lumiares | 1 | Belgium | Pre-Seed | Software, Health Care, Manufacturing |
| FPIM | 1 | Belgium | Seed, Series B | Manufacturing, Battery, Industrial |
| Noshaq | 1 | Belgium | Series A | Medical, Analytics, Health Care |
| Saffelberg Investments | 1 | Belgium | Series A, Seed | Software, Fashion, E-Commerce |
| Finorpa | 1 | France, United States, Belgium | Seed, Debt Financing | Manufacturing, Industrial, Software |
| Korys | 1 | Belgium, The Netherlands, India | Series A, Series B | Biotechnology, Information Technology, E-Commerce |
| Airborn | 1 | Belgium | Pre-Seed | Waste Management, Information Services, Supply Chain Management |
| Innogy Venture Capital | 1 | Germany, Sweden, United States | Series A, Series B | Energy, CleanTech, Energy Management |
| Crane Venture Partners | 1 | United Kingdom, Germany, United States | Seed, Series A | Software, Information Technology, Artificial Intelligence |
| AXE Investments N.V. | 1 | Belgium |  | Energy, Recycling, Clean Energy |

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