# Top 40 Proptech VC (Venture Capital) Funds in Belgium in October 2023

## Volta Ventures
- Type: VC Fund
- Location: Gent, Oost-Vlaanderen, Belgium
- Relevant deals: 6
- 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

## 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.

## Limburgse Reconversie Maatschappij
- Type: VC Fund
- Location: Hasselt, Limburg, Belgium
- Relevant deals: 4
- Stages: Series A, Seed
- Focus: Information Technology, Software, Biotechnology

Oxygen for growth - LRM

## 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

## QuaeroQ
- Type: VC Fund
- Relevant deals: 3
- Stages: Series A
- Focus: GovTech, CivicTech, Communities

QuaeroQ is a privately-held investment fund that invests in and supports small and midsize companies in Europe with a long-term approach as an involved minority shareholder with a co-owner mindset and in close relationship with their management.
It was founded in 2003 and is headquartered in Waregem, Belgium.

## Belfius Bank
- Type: VC Fund
- Location: Saint-josse-ten-noode, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 3
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, SaaS, Artificial Intelligence

A for-profit PLC founded to meet local authority needs.

## XAnge
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 2
- Stages: Series A, Seed, Series B
- Focus: Software, SaaS, Information Technology

For 20 years, XAnge has been a key venture capital fund in Europe. With 70 startups in its portfolio, XAnge invests early in innovative tech companies.

## PROfounders Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Software, Apps, Travel

We are PROfounders. We are the proactive European early-stage venture fund.

## Nuhma
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Battery, Software, GreenTech

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

## Terra Drone
- Type: VC Fund
- Location: Tokyo, Tokyo, Japan
- Relevant deals: 2
- Stages: Series A, Series B
- Focus: Drones, Robotics, Software

Terra Drone Indonesia provides drone services for various industry sector such as mining, construction, oil & gas, energy, and utilities.

## Green Park Investment Partners
- Type: VC Fund
- Location: Gent, Oost-Vlaanderen, Belgium
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Information Technology, Real Estate, CRM

Green Park is een onafhankelijke investeerder. We investeren sinds 2010 in kleine en middelgrote bedrijven in de Benelux met focus op buyouts, groeifinanciering en/of partnerships. We werken graag nauw samen met gedreven ondernemers of management teams, waarbij we actieve ondersteuning en financiering voor verdere groei bieden.

## 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

## LeanSquare
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Music, Internet

New Economy Startups Investor & Accelerator

## 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.

## Fortino Capital
- Type: VC Fund
- Location: Zaventem, Vlaams-Brabant, Belgium
- Relevant deals: 2
- Stages: Series A, Seed
- Focus: Software, Information Technology, SaaS

We partner with exceptional B2B Software entrepreneurs across Northwestern Europe.

## Capricorn Partners
- Type: VC Fund
- Location: Leuven, Vlaams-Brabant, Belgium
- Relevant deals: 2
- 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

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

QBIC II

## Matexi
- Type: VC Fund
- Location: Antwerpen, Antwerpen, Belgium
- Relevant deals: 2
- Stages: Series A
- Focus: SaaS, CRM, iOS

Matexi ontwikkelt kwaliteitswoningen, -appartementen en bouwgronden die verrassend veel bieden voor jouw budget.

## Sambrinvest
- Type: VC Fund
- Location: Gosselies, Hainaut, Belgium
- Relevant deals: 1
- 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.

## 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.

## 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.

## Peak
- Type: VC Fund
- Location: Amsterdam, Noord-Holland, The Netherlands
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Software, SaaS, E-Commerce

We're the early-stage venture capital fund backed 100% by founders. Pre-Seed and Series A for SaaS, Marketplaces & Platforms.

## 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

## Qbic Fund
- Type: VC Fund
- Location: Belgium, Wisconsin, United States
- Relevant deals: 1
- 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.

## Elia System Operator
- Type: VC Fund
- Location: Brunelles, Centre, France
- Relevant deals: 1
- 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). 

## Pitchdrive
- Type: VC Fund
- Location: Antwerp, Antwerpen, Belgium
- Relevant deals: 1
- Stages: Pre-Seed, Seed, Series A
- Focus: Software, SaaS, Information Technology

Pitchdrive is a pre-seed investor run by experienced tech entrepreneurs backing founders during their crazy startup ride. Buckle up.

## Join Capital
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Artificial Intelligence, SaaS

JOIN Capital is an early stage VC focused on pre-Series A investments in Industry 4.0 and enterprise tech. Our portfolio companies are front and center at factories, delivering smart machinery and robotics for high-volume manufacturing. They’re behind the scenes with powerful algorithms for managing global production systems. They rethink andrewire essential processes, with the goal of maximizing human capabilities. We invest in technologies related to core business functions: operations, manufacturing, data analytics, supply chain and software development. We seek innovative solutions to real customer problems that have achieved product-market fit. Technologies we invest in include: machine learning, robotics, cloud computing, IoT, smart sensors.

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

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.

## The Faktory Fund
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 1
- 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.

## Be Angels
- Type: VC Fund
- Location: Louvain-la-neuve, Vlaams-Brabant, Belgium
- Relevant deals: 1
- 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.

## Anaxago
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Biotechnology, Health Care, SaaS

Anaxago is a brand new crowdfunding platform dedicated to innovative companies. Anaxago aims at changing the traditional equity capital investment model. Their goal is to forget about the capitalistic-only and go for a truly sharing and participative investment model. Thanks to Anaxago, entrepreneurs can benefit from the financial support oftheir investors but also learn from the shareholders' experience, expertise and network. Each investor can take an active part to the company life and so be a part of a lively entrepreneurial adventure.They offer a small range of companies each month to their investors community. Startups and small companies are chosen with good care and have to go through a whole process of financial analysis. They also prefer to select companies with a real innovative value added. With Anaxago, young and small companies can find funding and support to grow and develop. They give them a chance to be the actors of tomorrow's growth and reboost their economy.Since its launch, Anaxago gathered 100 000 members and invested more than 130M€ funding more than 200 businesses.

## 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.

## 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].

## Deparco
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A
- Focus: Internet, Software, Real Estate

The Deparco team is managing and supporting the investments of Bruno Denys.
We have over 20 years of experience in partnering with companies for the long run and in developing real estate.  Our dedicated team is made up of professionals who are looking to partner with hard-working, visionary entrepreneurs.

## 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.

## Seedrs
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Equity Crowdfunding, Pre-Seed
- Focus: Software, E-Commerce, FinTech

Online investing opportunities in the best new startup businesses, and raise seed and angel investment, with top European equity crowdfunding site Seedrs.

## 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

## WING by Digital Wallonia
- Type: VC Fund
- Location: Liège, Liege, Belgium
- Relevant deals: 1
- 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).

## Isomer Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Software, Artificial Intelligence, Machine Learning

Isomer's entrepreneurial approach accesses high-potential opportunities through limited partner investments in funds, company co-investments, and providing liquidity to firms and founders via secondary purchases.

## Flanders Innovation and Entrepreneurship (VLAIO)
- Type: VC Fund
- Location: Brussel, Brussels Hoofdstedelijk Gewest, Belgium
- Relevant deals: 1
- Stages: Grant, Pre-Seed, Seed
- Focus: Biotechnology, Health Care, Artificial Intelligence

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

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