# Top 50 Energy VC (Venture Capital) Funds in Belgium in May 2026

## Limburgse Reconversie Maatschappij
- Type: VC Fund
- Location: Hasselt, Limburg, Belgium
- Relevant deals: 6
- Stages: Series A, Seed
- Focus: Information Technology, Software, Biotechnology

Oxygen for growth - LRM

## Innovation Fund
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 5
- Stages: Seed, Series A
- Focus: Health Care, Manufacturing, Software

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

## Meusinvest (Noshaq)
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 4
- Stages: Seed, Series A
- Focus: Health Care, Biotechnology, Medical

Noshaq offers financial services to help businesses develop.

## Gemma Frisius Fund
- Type: VC Fund
- Location: Leuven, Vlaams-Brabant, Belgium
- Relevant deals: 3
- Stages: Seed, Series B, Series A
- Focus: Biotechnology, Health Care, Therapeutics

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

## Gimv
- Type: VC Fund
- Location: Antwerpen, Antwerpen, Belgium
- Relevant deals: 3
- Stages: Series B, Private Equity
- Focus: Biotechnology, Health Care, Medical

Gimv is a European investment company with over three decades of experience in private equity and venture capital.Gimv is listed on NYSE Euronext Brussels. Gimv currently manages around 1.8 billion EUR (including third party funds) of investments in 85 portfolio companies, which jointly realise a turnover of more than EUR 6 billion and employover 28,000 professionals.As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial and innovative companies with high-growth potential and supports them in their transformation into market leaders. Gimv’s four investment platforms are: Consumer 2020, Health & Care, Smart Industries and Sustainable Cities. Each of these platforms works with a skilled and dedicated team across Gimv’s home markets of the Benelux, France and Germany and can count on an extended international network of experts.More information on Gimv can be found on [www.gimv.com].

## Partech
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 3
- Stages: Series A, Seed, Series B
- Focus: Software, E-Commerce, Financial Services

Partech is a global venture capital firm with offices in San Francisco, Paris, Berlin and Dakar. Partech invests in Internet and information technology startups at seed, venture and growth stages.

## PMV
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 3
- Stages: Series A, Seed
- Focus: Software, Biotechnology, Health Care

Do and dare company

## The Faktory Fund
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 3
- Stages: Seed, Pre-Seed
- Focus: Software, Information Technology, Manufacturing

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.

## Nuhma
- Type: VC Fund
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Battery, Software, GreenTech

Namens de Limburgse gemeenten en Laakdal werken we aan duurzaamheid, energie en innovatie via gerichte participaties

## S.R.I.W.
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 3
- Stages: Series A, Series B
- Focus: Health Care, Biotechnology, Manufacturing

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.

## LeanSquare
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Software, Music, Internet

New Economy Startups Investor & Accelerator

## Finance.Brussels
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, CleanTech, Information Technology

Regional Investment Company of Brussels

## ABB Technology Ventures
- Type: VC Fund
- Location: Zürich, Zurich, Switzerland
- Relevant deals: 2
- Stages: Series B, Series A
- Focus: Software, Energy, Robotics

ABB Technology Ventures (ATV) is the strategic venture capital unit of ABB (NYSE: ABB). ATV scouts the globe for breakthrough power and automation technology partners aligned with ABB’s goal to write the future of industrial digitalization. Since its formation in 2009, ATV has invested nearly $200 million into high potential technology companiesspanning a range of sectors including robotics, industrial IoT, machine learning, 3D printing, cybersecurity and distributed energy. Learn more at abb.com/ventures.

## WING by Digital Wallonia
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 2
- Stages: Seed, Convertible Note, Series A
- Focus: Software, Health Care, Internet

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).

## QBIC II
- Type: VC Fund
- Relevant deals: 2
- Stages: Series B, Series A
- Focus: Industrial, Biotechnology, Construction

QBIC II

## Vives Louvain Technology Fund
- Type: VC Fund
- Location: Louvain-la-neuve, Vlaams-Brabant, Belgium
- Relevant deals: 2
- Stages: Series A, Series B
- Focus: Health Care, Biotechnology, Medical

Vives is an interregional seed and early stage technology multi-sector fund. The new fund, initiated by UCLouvain, is a unique European inter-university fund having access to world class innovations from leading EU top universities.

## Airbus Ventures
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 2
- Stages: Series A, Series B, Seed
- Focus: Software, Aerospace, Information Technology

Empowering our entrepreneurs to shift the future of aerospace.

## Flanders Innovation and Entrepreneurship (VLAIO)
- Type: VC Fund
- Location: Brussel, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 2
- Stages: Grant, Pre-Seed, Seed
- Focus: Biotechnology, Health Care, Artificial Intelligence

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

## Big Bang Ventures
- Type: VC Fund
- Location: Antwerpen, Antwerpen, Belgium
- Relevant deals: 2
- Stages: Series A, Series B
- Focus: Software, Cloud Computing, Apps

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.

## Elia System Operator
- Type: VC Fund
- Location: Brunelles, Centre, France
- Relevant deals: 2
- Stages: Seed, Series A, Private Equity
- Focus: Energy, Solar, Software

With a reliability level of 99.999 percent, Elia Group provides society with a robust electricity grid. We operate an electricity transmission system with voltage levels between 30 and 400 kilovolt (kV), and 50Hertz transports electricity over high-voltage levels of 150, 220 and 380 kilovolts (kV). 

## Qbic Fund
- Type: VC Fund
- Location: Belgium, Wisconsin, United States
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Biotechnology, Software, Health Care

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.

## Korys
- Type: VC Fund
- Location: Halle, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Biotechnology, Information Technology, E-Commerce

Korys is the name chosen by the Colruyt family for their investment structure. The name Korys is derived from the Latin word for hazelnut tree – Corylus - which is at the origin of the Colruyt name.Their multi-disciplinary approach enables us to create a well-balanced, diversified portfolio of listed stocks and bonds, private equity funds, anddirect participations in small and medium-sized companies. Through their investments, they aim to make a positive impact on people and the planet, while generating attractive returns. A “three P” approach (People, Planet, Profit) forms the cornerstone of their investment strategy. They invest for the long term, as they realize that it takes time to achieve the sustainable impact they are aiming for. They focus their investments in sectors in which they have built substantial expertise as a team: Cleantech, consumer goods & retail and life sciences.

## PMV Tina Fund
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A, Series D, Series E
- Focus: Manufacturing, Eyewear, Printing

PMV Tina Fund is a venture capital firm that specializes in growth capital investments.

## Eutopia VC
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Retail, Food and Beverage, E-Commerce

Eutopia is a fund for consumer startups. We back founders who are rethinking the way we eat, shop, sleep and feel. We are backing 26 startups

## TA Capital
- Type: VC Fund
- Location: Houston, Texas, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, E-Commerce, SaaS

From its active funds TAC currently invests in Europe and the USA. They invest in all stages (seed, early and growth) of start-ups with capable teams and scalable business models. Their investment sizes go from as low as $200,000 to as much as $15 milion per transaction. They like opportunities in e-commerce, Internet, digital life and softwaredomains. They like to create and shape new markets. They are unconventional, caring and driven, and very fast. They are honest and fair in their daily dealings and in their transactions. They honor their commitments and deliver on their promises, on time. They see it their mission to provide entrepreneurs with the resources required to grow their companies and they exclusively partner with teams who share their values.

## Alychlo
- Type: VC Fund
- Relevant deals: 1
- Stages: Series D, Series E
- Focus: CRM, Life Science, Artificial Intelligence

Alychlo

## General Motors Ventures
- Type: VC Fund
- Location: Warren, Michigan, United States
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Automotive, Software, Energy

GM Ventures combines investing in automotive-related tech startups with General Motors support to drive innovation and advance the future of mobility.

## Gesval
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: Medical, Software, Wellness

A limited company of the University of Liège (ULiege).

## European Union
- Type: VC Fund
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Fashion, CleanTech, GreenTech

The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe.

## Delaware
- Type: VC Fund
- Location: Gent, Oost-Vlaanderen, Belgium
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Waste Management, Information Services, Supply Chain Management

IT consultancy, System Integrator, Change Management, Professional Services

## Lean FUND
- Type: VC Fund
- Location: Louvain, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Seed, Series B
- Focus: Internet, Apps, Software

Startups, increase your value by 3 within 9 months thanks to Power 3 by Leanfund (www.leanfund.com)!

## FPIM
- Type: VC Fund
- Location: Boca Raton, Florida, United States
- Relevant deals: 1
- Stages: Seed, Series B
- Focus: Manufacturing, Battery, Industrial

Preventive Cardiology is the only practice in South Florida that specializes in true comprehensive cardiovascular prevention. Learn more on our website!

## Airborn
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Waste Management, Information Services, Supply Chain Management

Airborn fund is investing in founders with impact

## Creos Luxembourg
- Type: VC Fund
- Location: Luxembourg, Luxembourg, Luxembourg
- Relevant deals: 1
- Focus: Renewable Energy, Intelligent Systems, Electrical Distribution

Creos Luxembourg is the operator of electricity networks and natural gas pipes in Luxembourg.

## DDM Holding AG
- Type: VC Fund
- Location: Baar, Zug, Switzerland
- Relevant deals: 1
- Stages: Pre-Seed
- Focus: Waste Management, Information Services, Supply Chain Management

DDM Holding AG acquires and manages distressed asset portfolios with a focus on non-performing loans in Eastern Europe.

## Innogy Venture Capital
- Type: VC Fund
- Location: Essen, Nordrhein-Westfalen, Germany
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Energy, CleanTech, Energy Management

Innogy Venture Capital is a fund management company in distributed energy solutions. The company focuses on investments in European startup companies that provide solutions and new business models shaping the future energy market. With a final closing size of EUR 115 million, the currently managed "Innogy Renewables Technology Fund I" isa leading early stage investor in this segment in Europe. The fund's sponsors are RWE Innogy and CEE Holding. RWE Innogy pools within the German utility RWE the expertise for construction and operation of renewable energy generation assets. CEE Holding is an investment company of Bankhaus Lampe Group, focusing on renewable energy generation.

## Wallonie Entreprendre
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: Health Care, Biotechnology, Health Diagnostics

Your partner ! WE is Wallonia's economic and financial tool at the service of businesses. We provide the means necessary for the development of activity in all sectors. Our investments and financing respond to a logic of creation, growth, transmission or relaunch of companies. We ensure compliance with social and environmental standards.

## KBC Focus Fund
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Electronics, Semiconductor, Manufacturing

The KBC Focus Fund is a € 50 million venture capital fund that leverages the network of KBC in our investments. As we are an evergreen fund, we always strive for an exit when market conditions are favourable.

## Nivelinvest
- Type: VC Fund
- Location: Louvain-la-neuve, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Biotechnology, iOS, Construction

Nivelinvest is a venture capital firm based in Belgium that finances seed stage investments of Small and Medium Enterprises.

## Otium Capital
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Internet, E-Commerce

In 2015, two independant investment teams were created in Paris inside Otium Capital, Pierre-Edouard Stérin's family office:* Otium Venture, focused on Seed investments in Tech companies (€40m invested in 14 companies among which Payfit, Doctrine, Owkin...)* Otium Brands, focused on Seed & Series A investments in Consumer GoodscompaniesIn 2019, the two teams spun off to become independant investment firms:* Otium Venture became frst* Otium Brands became Eutopia

## Finindus
- Type: VC Fund
- Location: Zelzate, Oost-Vlaanderen, Belgium
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Manufacturing, Industrial, Renewable Energy

Finindus provides early stage financing and growth capital to innovative companies active in the area of materials, material processing and sustainable manufacturing. We are funded by ArcelorMittal and the Flemish Region and linked to OCAS, the world class metals research center located in Belgium.

## AMAVI Capital
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A
- Focus: Information Technology, Real Estate, Software

AMAVI is an independent and dedicated Pan-European investor established to support growth of the leading and most promising companies active in the PropTech industry, with a geographical focus on the Benelux, Nordics, Germany, Switzerland and France. AMAVI aims to create a bridge between the traditional real estate industry on the one hand and themost groundbreaking European PropTech companies on the other hand, by leveraging on its combined expertise and network from the real estate, technology and private equity industry. AMAVI partners with the world-shapers, creating companies that radically change the places we live, work and relax in today.

## Inventures SA
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Health Care, Manufacturing, Biotechnology

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.

## Ventech
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Software, E-Commerce, Biotechnology

On-the-ground expert investors in early-stage digital. Ready to meet you, wherever you are.

## LRM
- Type: VC Fund
- Location: Hasselt, Limburg, Belgium
- Relevant deals: 1
- Stages: Seed
- Focus: Manufacturing, Drones, Sensor

Oxygen for growth - LRM

## AXE Investments N.V.
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 1
- Focus: Energy, Recycling, Clean Energy

AXE Investments is a joint venture between the holding companies Anacom and Ackermans & van Haaren and is part of the AXE Group

## Electrification Financing Initiative
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Debt Financing, Series A
- Focus: Energy, Solar, Renewable Energy

Impact investment in sustainable energy

## Ark Angels Activator Fund
- Type: VC Fund
- Location: Hasselt, Limburg, Belgium
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Software, Information Technology, SaaS

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,

## Kima Ventures
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, E-Commerce, SaaS

Kima Ventures is one of the world's most active early-stage investors, investing in 2 to 3 startups per week all over the world; providing founders with funding, network, and support for them to reach the next steps of their journey.The firm invests from seed to Series A, mostly as lead investor but also working alongside other investors;backing ambitious founders who work hard to build awesome things that more and more people use everyday. The company helps them to build a great team, to learn very quickly, to keep the right focus and execute towards growth.Kima takes pride of itself in working side-by-side with entrepreneurs. They claim to understand that fundraising is only one step in the company’s journey, that’s why they take quick decisions and make the fundraising process as smooth as possible so the founders can get back to the work of building their business. Kima considers itself not only an investor, but a network of founders and experts sharing a pay it forward mindset.Headquartered in Paris with an office in London, the company was founded and backed by Xavier Niel, founder of Iliad and supporter of entrepreneurs through such projects as 42, Station F and 101projets. Over the last 5 years Kima has invested in over 400 startups in 24 different countries.

## Apic Investments
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Real Estate, Software, Internet of Things

Apic Investments is an early-stage focused Venture Capital, investing in PropTech and RetailTech companies. Apic Investments' goal is to help build start-ups and to accelerate their business models with capital, industry expertise, and a network.

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