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

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| PMV | 10 | Belgium, The Netherlands, United States | Series A, Seed | Software, Biotechnology, Health Care |
| Limburgse Reconversie Maatschappij | 8 | Belgium, United States, The Netherlands | Series A, Seed | Information Technology, Software, Biotechnology |
| Qbic Fund | 8 | Belgium | Seed, Series A | Biotechnology, Software, Health Care |
| WING by Digital Wallonia | 8 | Belgium | Seed, Convertible Note, Series A | Software, Health Care, Internet |
| Capricorn Partners | 7 | Belgium, United States, The Netherlands | Series B, Series A | Biotechnology, Health Care, Software |
| The Faktory Fund | 6 | Belgium, France, United States | Seed, Pre-Seed | Software, Information Technology, Manufacturing |
| Allegro Investment Fund | 4 | Belgium, United States, The Netherlands | Series A, Series B | Software, Hardware, Apps |
| Volta Ventures | 4 | Belgium, The Netherlands, Luxembourg | Seed, Series A | Software, Information Technology, Artificial Intelligence |
| KBC Focus Fund | 4 | Belgium, The Netherlands, Luxembourg | Seed, Series A | Electronics, Semiconductor, Manufacturing |
| Vives Louvain Technology Fund | 3 | Belgium, France, United States | Series A, Series B | Health Care, Biotechnology, Medical |
| Fidimec | 3 | Belgium | Series A, Seed | Industrial, Semiconductor, Medical |
| Big Bang Ventures | 3 | Belgium, The Netherlands, United States | Series A, Series B | Software, Cloud Computing, Apps |
| Lean FUND | 3 | Belgium, United States, France | Seed, Series B | Internet, Apps, Software |
| Capital-E | 3 | Belgium, United States, Germany | Series B, Series A | Software, Manufacturing, Hardware |
| Be Angels | 3 | Belgium, France, Spain | Seed, Pre-Seed | Software, Information Technology, SaaS |
| Baekeland Funds | 3 | Belgium | Series B, Series C | Biotechnology, Hardware, Software |
| KPN Ventures | 2 | The Netherlands, Belgium, Germany | Series A, Series B, Seed | Software, Internet of Things, Information Technology |
| Flanders Future Techfund | 2 | Belgium | Seed | Medical, Semiconductor, Clinical Trials |
| Gimv | 2 | Belgium, United States, France | Series B, Private Equity | Biotechnology, Health Care, Medical |
| Airbus Ventures | 2 | United States, France, Japan | Series A, Series B, Seed | Software, Aerospace, Information Technology |
| TheClubDeal | 2 | Belgium, France | Series A, Series B, Seed | Health Care, Biotechnology, Information Technology |
| Meusinvest (Noshaq) | 2 | Belgium, France, Germany | Seed, Series A | Health Care, Biotechnology, Medical |
| European Commission | 2 | Spain, France, United States | Grant, Seed, Pre-Seed | Software, Biotechnology, Health Care |
| LeanSquare | 2 | Belgium, France, United States | Seed, Series A | Software, Music, Internet |
| Quest for Growth | 2 | Belgium, France, The Netherlands | Series B, Series C | Biotechnology, Software, Hardware |
| Innovation Fund | 2 | Belgium, France, Luxembourg | Seed, Series A | Health Care, Manufacturing, Software |
| Vesalius Biocapital Partners | 2 | Belgium, Germany, The Netherlands | Series B, Series A, Series C | Biotechnology, Health Care, Medical |
| Gemma Frisius Fund | 2 | Belgium, France | Seed, Series B, Series A | Biotechnology, Health Care, Therapeutics |
| Partech | 2 | United States, France, Germany | Series A, Seed, Series B | Software, E-Commerce, Financial Services |
| S.R.I.W. | 2 | Belgium, United States, Spain | Series A, Series B | Health Care, Biotechnology, Manufacturing |
| Finance.Brussels | 2 | Belgium, France | Seed, Series A | Software, CleanTech, Information Technology |
| PROfounders Capital | 2 | United Kingdom, United States, Finland | Seed, Series A, Series B | Software, Apps, Travel |
| Terra Drone | 2 | Belgium | Series A, Series B | Drones, Robotics, Software |
| Flanders Innovation and Entrepreneurship (VLAIO) | 2 | Belgium, Israel, Germany | Grant, Pre-Seed, Seed | Biotechnology, Health Care, Artificial Intelligence |
| Akiles | 2 | Belgium, France, Luxembourg | Private Equity, Series A | Health Care, Software, Wellness |
| Inventures SA | 2 | Belgium, France, United Kingdom | Series A, Seed | Health Care, Manufacturing, Biotechnology |
| Peak | 1 | The Netherlands, Germany, Belgium | Seed, Pre-Seed | Software, SaaS, E-Commerce |
| Innovation Industries | 1 | The Netherlands, Belgium, United States | Seed, Series B | Semiconductor, Health Care, Manufacturing |
| Acequia Capital (AceCap) | 1 | United States, United Kingdom, France | Seed, Series A, Pre-Seed | Software, Information Technology, Artificial Intelligence |
| MetaVision International | 1 | United States, United Kingdom, France | Seed, Pre-Seed | Blockchain, Software, Artificial Intelligence |
| Semtech | 1 | United States, Belgium, Germany | Series A, Series C | Software, Mobile, Internet of Things |
| Matterwave Ventures | 1 | Germany, Austria, Belgium | Series A, Seed | Software, Artificial Intelligence, Information Technology |
| Telenet Holding | 1 | Belgium | Pre-Seed | Privacy, Security, Mobile Apps |
| New Science Ventures | 1 | United States, United Kingdom, Belgium | Series B, Series A, Series D | Biotechnology, Health Care, Therapeutics |
| The CoFoundry | 1 | Belgium, The Netherlands, United States | Seed, Series A | Software, Network Security, SaaS |
| Level Equity Management | 1 | United States, Canada, France | Private Equity, Series A, Series B | Software, SaaS, Information Technology |
| Theodorus III | 1 | Belgium, Canada, France | Seed, Series A | Health Care, Life Science, Medical |
| SoFi | 1 | Belgium, Brazil, United States | Series A, Seed | Apps, Biotechnology, Information Technology |
| iMinds Ventures | 1 | Belgium, United States | Series A, Series B | Content, Internet, Wireless |
| Sambrinvest | 1 | Belgium, France, Spain | Seed, Series A, Series B | Biotechnology, Health Care, Information Technology |

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