# Top 50 Medical Startup Investors in Belgium in May 2026

## Meusinvest (Noshaq)
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 8
- Stages: Seed, Series A
- Focus: Health Care, Biotechnology, Medical

Noshaq offers financial services to help businesses develop.

## 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

## Capricorn Partners
- Type: VC Fund
- Location: Leuven, Vlaams-Brabant, Belgium
- Relevant deals: 5
- Stages: Series B, Series A
- Focus: Biotechnology, Health Care, Software

Capricorn Partners is a unique independent manager of venture capital, growth capital and quoted equity funds

## Newton Biocapital
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 5
- Stages: Series A, Seed
- Focus: Biotechnology, Medical, Health Care

Our mission is to mature innovation and support the growth of our portfolio companies to create value for patients, society, local ecosystems, and investors.

## V-Bio Ventures
- Type: VC Fund
- Location: Gent, Oost-Vlaanderen, Belgium
- Relevant deals: 4
- Stages: Series A, Series B, Seed
- Focus: Biotechnology, Health Care, Medical

Achieving global impact in effective healthcare & sustainable agriculture by helping talented entrepreneurs / scientist set up exceptional companies.

## S.R.I.W.
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 4
- 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.

## Qbic Fund
- Type: VC Fund
- Location: Belgium, Wisconsin, United States
- Relevant deals: 4
- 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.

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

Fund+ is a venture capital firm that invests in companies operating in the diagnostics, therapeutics, medical devices, and life science sectors. The firm wants to create sustainable shareholders' value, contribute to the development of a leadership position in the life sciences sector, and generate a tangible, beneficial societal impact.Fund+ was established in 2015 and is based in Leuven, Belgium.

## GoBeyond
- Type: VC Fund
- Location: Zürich, Zurich, Switzerland
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Information Technology, Medical, Software

GoBeyond is a FinTech company transforming angel investing into a new scalable asset class for small and large, novice to experienced investors. It offers a unique deal platform, portfolio tools, syndication/pooling, due diligence, investment monitoring services, training and certified deal leaders.Its clients are individuals, familyoffices, professional groups and corporations. It is active in the EU, Switzerland and the US. GoBeyond also offers educational training modules for angel investors in 11 categories.

## 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.

## Annie Vereecken
- Type: Angel
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Biotechnology, Medical, Hospital

Annie Vereecken

## Volta Ventures
- Type: VC Fund
- Location: Gent, Oost-Vlaanderen, Belgium
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Software, Information Technology, Artificial Intelligence

Volta Ventures is a venture capital firm, offering seed & early stage VC for internet & software companies (SaaS) in the Benelux region

## WING by Digital Wallonia
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 3
- 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).

## PMV
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Software, Biotechnology, Health Care

Do and dare company

## Spinventure
- Type: VC Fund
- Location: Angleur, Liege, Belgium
- Relevant deals: 2
- Stages: Series A
- Focus: Health Care, Biotechnology, Medical

Spinventure supports the creation of spin-off companies that aim to industrialize and commercialize the result of scientific research. Spinventure was born from a collaboration between MEUSINVEST and the University of Liège.

It is headquartered in Angleur, Belgium.

## Noshaq
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 2
- Stages: Series A
- Focus: Medical, Analytics, Health Care

Noshaq offers financial services to help businesses develop.

## Omnes Capital
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 2
- Stages: Series A, Series B
- Focus: Software, Biotechnology, Health Care

Omnes, "Powering Entrepreneurs" is a Leading private equity firm dedicated to energy transition and innovation.

## BioGeneration Ventures
- Type: VC Fund
- Location: Naarden, Noord-Holland, The Netherlands
- Relevant deals: 2
- Stages: Series A, Series B
- Focus: Biotechnology, Therapeutics, Health Care

Shaping new life-science ventures.

## Be Angels
- Type: VC Fund
- Location: Louvain-la-neuve, Vlaams-Brabant, Belgium
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: Software, Information Technology, SaaS

Early stage Entrepreneurs Coaching and FinancingOne of Europe's leading Business Angels Networks. We connect innovative growth companies to equity finance and coaching by experienced angel investors.
The network is 250 members strong and has been assisting innovative entrepreneurs to find financing for more than 10 millions Euros in thelast 4 years.

## Thuja Capital
- Type: VC Fund
- Location: Utrecht, Utrecht, The Netherlands
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Biotechnology, Medical, Health Care

Thuja Capital invests in early stage medical product innovations for diagnosis, cure, care or prevention.

## Buysse & Partners
- Type: VC Fund
- Location: Antwerpen, Antwerpen, Belgium
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Software, Cloud Computing, FinTech

Buysse and Partners is a private equity investment group based in Antwerpen that offers smart equity, a growth fund, and partnerships.

## Inventures SA
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 2
- 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.

## BAN Vlaanderen
- Type: VC Fund
- Location: Hasselt, Limburg, Belgium
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Health Care, Medical, Apps

BAN Vlaanderen is the business angel network in Flanders, a value-added platform within which new or growing businesses are brought into contact with informal private investors, called Business Angels. Looking for venture capital This Business Angels bring not only money but also their own know-how, experience and contacts. Are connecting servicesoffered. Both the entrepreneurs and the business angelsBAN Vlaanderen is no investment, it does not own shares or take any investment decisions, nor for its own account or on behalf of the affiliates. Instead, it is a market where supply and demand are brought together. The information on this site is intended to initiate the purpose and operation of BAN Vlaanderen. For more information you can always contact one of our regional offices.BAN Vlaanderen is an association that aims to stimulate the development, support and promotion of entrepreneurship and investment culture in Belgium. Economic growth in Belgium

## White Fund
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Health Care, Medical, Medical Device

For game changers in medtech

## Sambrinvest
- Type: VC Fund
- Location: Gosselies, Hainaut, Belgium
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Biotechnology, Health Care, Information Technology

Sambrinvest is an active venture capital player in the region of Charleroi - Thuin.

## Yonjin Venture
- Type: VC Fund
- Location: Cambridge, Massachusetts, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Biotechnology, Health Care, Medical

Yonjin Venture is an investment firm specializing in investing in early and mid-stage life science companies.It focuses on the innovative technologies in therapeutics, diagnostics, and medical devices. The firm is a sub-organization of Yongjin Group and the sister firm of Yonghua Capital.The Cambridge, Massachusetts-based firm was establishedin 2018.

## Dental Innovation Alliance
- Type: VC Fund
- Location: Raleigh, North Carolina, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, SaaS, Dental

Dental Innovation Alliance (DIA) is a venture capital company that invests in, advises on, and accelerates the growth of early-stage companies that are transforming dentistry through technology.

## Delta Partners
- Type: VC Fund
- Location: Leopardstown, Dublin, Ireland
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Information Technology, Health Care

Early stage VC investments and funding for start-ups / founders in Ireland.

## Ackermans & van Haaren
- Type: VC Fund
- Location: Antwerpen, Antwerpen, Belgium
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Biotechnology, Health Care, Medical

Ackermans & van Haaren is a diversified group active in 5 segments: Marine Engineering & Infrastructure; Private Banking; Real Estate, Leisure & Senior Care; Energy & Resources; Development Capital. Marine Engineering & Infrastructure: DEME, one of the largest dredging companies in the world - Algemene Aannemingen Van Laere,a leading contractor in Belgium. Ackermans & van Haaren is an independent and diversified group aiming at creating shareholder value through long-term investments in a limited number of companies with growth potential on an international level.

## CPH Banque
- Type: VC Fund
- Location: Tournai, Basse-Normandie, France
- Relevant deals: 1
- Stages: Series B
- Focus: Health Care, Medical, Training

CPH Banque is a financial services company that provides loan, head full projects and mobile banking services.

## BNP Paribas Fortis
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Debt Financing, Series B
- Focus: Biotechnology, Logistics, Software

BNP Paribas Fortis is a bank that provides personal and business banking services.

## High-Tech Grunderfonds
- Type: VC Fund
- Location: Bonn, Nordrhein-Westfalen, Germany
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Information Technology, Biotechnology

High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 500 startups since 2005. Driven by their expertise, entrepreneurial spirit, and passion, its teamof experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry, and life sciences.To date, external investors have injected over EUR 2 billion into the HTGF portfolio via about 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Banking Group, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.

## LeanSquare
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Music, Internet

New Economy Startups Investor & Accelerator

## NV Industriebank LIOF
- Type: VC Fund
- Location: Maastricht, Limburg, The Netherlands
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Biotechnology, Medical, Health Care

NV Industriebank LIOF is the Limburg development and investment company. LIOF contributes to the prosperity of the province with an ongoing program to strengthen the province's economic base. LIOF targets industry and the dynamic service sector.Its four core activities are Acquisition, Participation, Development/Innovation andBusiness Parks, as these relate to the location/relocation of (foreign) companies, venture capital participation in Limburg companies with prospects, the development/implementation of programs and projects to sharpen the competitive edge of Limburg business and the coordination of the development of new business parks.LIOF has a strategic approach which targets opportunities for long-term economic development. In this it has a bridging role between government and business. LIOF is an ambitious professional organization and speaks the language that business understands.

## Gimv
- Type: VC Fund
- Location: Antwerpen, Antwerpen, Belgium
- Relevant deals: 1
- 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].

## Limburg Startup
- Type: VC Fund
- Location: Maastricht, Limburg, The Netherlands
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Biotechnology, Medical, Health Care

Limburg Ventures is a venture capital fund that invests in startups in life sciences and related fields of advanced chemicals and materials.

## BIP Investment Partners
- Type: VC Fund
- Location: Luxembourg, Luxembourg, Luxembourg
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Video, Medical, Software

BIP Investment Partners S.A. (BIP) is an independent financial holding company backed by Luxembourg family shareholders.Its activities are divided between providing private equity to businesses, particularly venture capital to startups, and investing in large, well-established Luxembourg-based businessesThe company was founded in 2000 as ajoint venture between Banque Générale du Luxembourg (BGL), later a part of Fortis Group, and now as the newly re-formed BGL and several smaller partners, under the name BGL Investment Partners, which was changed to 'BIP Investment Partners' in February 2006 after the rebranding of BGL. BIP is listed on the Luxembourg Stock Exchange, where it is one of the ten component companies of the main LuxX Index stock market index.

## KBC
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Biotechnology, Health Care, Software

KBC Private Equity - the investment company of KBC Group - provides development capital and finances buy-outs to medium-sized companies in Belgium and in Central and Eastern Europe, KBC's home markets.Boasting an experienced team of 28 people, it has more than 60 active investments in portfolio with a market value in excess of EUR 400million.KBC Private Equity aims to become one of the leading private equity providers on KBC Group's home markets. As an active shareholder with a long-term perspective, KBC Private Equity is involved in taking strategic decisions and providing support to management teams.

## SFPI-FPIM
- Type: VC Fund
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Series B, Series A
- Focus: Health Care, Biotechnology, Medical

The Federal Holding and Investment Company (SFPI-FPIM) centrally manages the federal government’s shareholdings, cooperates with the government on specific projects and pursues its own investment policy in the interests of the Belgian economy.

## Quest for Growth
- Type: VC Fund
- Location: Leuven, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Series B, Series C
- Focus: Biotechnology, Software, Hardware

Quest for Growth (QGPLF) is an Internet company located in 19 Lei, Leuven, Flanders, Belgium.

## Sofinnova Investments
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Biotechnology, Health Care, Pharmaceutical

Sofinnova deploys human and financial capital to turn dreams into drugs. We are a clinical-stage biopharmaceutical venture capital firm with approximately $2B in assets under management and committed capital.

## Sofinnova Partners
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Series A, Series B, Series C
- Focus: Biotechnology, Health Care, Medical

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise.

## Forbion Capital Partners
- Type: VC Fund
- Location: Naarden, Noord-Holland, The Netherlands
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Biotechnology, Health Care, Medical

Impacting the future of medicine.

## Investsud
- Type: VC Fund
- Location: Marche-en-famenne, Luxembourg, Belgium
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Biotechnology, Medical, SaaS

Investsud is a capital firm that works on investments in different industries including food, general industry, and technological startup.

## New Rhein
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A, Series B, Seed
- Focus: Medical, Biotechnology, Health Care

New Rhein is a Philadelphia based healthcare venture capital firm focused on repurposed assets.

## Yves Beudin
- Type: Angel
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Angel
- Focus: Medical, Health Care, Biotechnology

Yves Beudin

## Financière Spin-Off Luxembourgeoise
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A
- Focus: Medical, Health Care, Medical Device

Specializes in spin-off and spin-out investments.

## Jean Dessain
- Type: Angel
- Location: Brussels, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Angel
- Focus: Medical, Health Care, Biotechnology

Jean Dessain - Non Executive Director @ OneLIFE

## Flanders Future Techfund
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: Medical, Semiconductor, Clinical Trials

Flanders Future Techfund operates as an investment firm.

## Hunza Ventures
- Type: VC Fund
- Location: Luxembourg, Luxembourg, Luxembourg
- Relevant deals: 1
- Stages: Series A
- Focus: Medical, Health Care, Biotechnology

Hunza Ventures is a venture capital firm incorporated in 1998 in Luxemburg. The firm has focused its investments on early and mid-stage life sciences and IT companies with outstanding growth prospects.Hunza Ventures has built a large and well-balanced portfolio based on the strong entrepreneurial experience of the fund’s shareholders andmanagers. Since inception, Hunza Ventures has backed 20 companies in Belgium, Israel, USA and Singapore.Hunza Ventures has raised two funds:Hunza Ventures raised €15 million. The fund made 14 venture investments and is fully invested. A series of companies have successfully been divested.Hunza Ventures II raised €6.25 million in October 2008. This fund is actively investing and is currently raising additional capital.

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