# Top 50 Medical VC (Venture Capital) Funds 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.

## 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.

## 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.

## 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.

## 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).

## 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.

## 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

## 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.

## 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

## 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.

## 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.

## 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.

## 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

## 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.

## 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

## 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.

## 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.

## 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.

## 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.

## 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.

## 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.

## 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.

## 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.

## 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,

## Earlybird Venture Capital
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Software, Information Technology, Health Care

Founded in 1997, Earlybird invests in all development and growth phases of technology companies. Among the most experienced venture investors in Europe, Earlybird offers its portfolio companies not only financial resources but also strategic support plus access to an international network and capital markets. With EUR 2 billion under management,eight IPOs and 30 trade sales, Earlybird is one of the most established and active venture capital firms in Europe.

## 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.

## The CoFoundry
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Network Security, SaaS

The CoFoundry helps entrepreneurs transform their ideas into sustainable companies. Some say we cut through the funding hype and work hard to give your business a sustainable future.

## Allegro Investment Fund
- Type: VC Fund
- Location: Heverlee, Vlaams-Brabant, Belgium
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Software, Hardware, Apps

Allegro Investment Fund is an open end seed capital investment fund, focussing on high-tech ventures. With a combined experience of more then 40 years of experience in high-tech start-up management, the AIF team adds smart money to your capital needs.

## Mérieux Equity Partners
- Type: VC Fund
- Location: Lyon, Rhone-Alpes, France
- Relevant deals: 1
- Stages: Series A, Private Equity
- Focus: Biotechnology, Medical, Health Care

Mérieux Equity Partners (“MxEP”) is a management company dedicated to venture, growth and LBO investments in the healthcare and nutrition sectors. MxEP actively supports entrepreneurs and industrial companies with differentiated products and services, by providing privileged access to its expertise and international network. MxEP
currently managesmore than €600m AUM and has recently launched a new vehicle MP3 of €350m dedicated to growth/LBO.

## 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.

## 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.

## 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.

## EQT life science
- Type: VC Fund
- Location: Amsterdam, Noord-Holland, The Netherlands
- Relevant deals: 1
- Stages: Series A, Series B, Series C
- Focus: Biotechnology, Health Care, Therapeutics

EQT life science develops innovative medicines, devices, and tools to address the single important thing that matters to the preservation of health. The organization believes that such opportunities add value to all stakeholders.

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

Flanders Future Techfund operates as an investment firm.

## 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].

## 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.

## 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.

## 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.

## 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.

## 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.

## 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.

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

Vinnof is a venture capital firm that offers seed capital to innovative, early-stage startups based in Flanders, Belgium.

## 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.

## 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.

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