BNP Paribas Fortis Private Equity, established in 1982 and headquartered in Brussels, Belgium, operates as a venture capital and private equity investment arm of BNP Paribas Fortis SA/NV. The firm specializes in both direct and fund of funds investments, focusing on mezzanine financing, buyouts, development capital, and growth capital across various sectors. It primarily targets medium-sized companies in Europe and North America, especially in the Benelux region, with particular interest in Spain through Nazca Capital S.G.E.C.R. The firm invests in biotechnology, food and beverages, healthcare, technology, and construction sectors while avoiding the defense and real estate industries. BNP Paribas Fortis Private Equity typically engages in transactions ranging from €5 million to €30 million, with equity investments between €0.6 million and €58.48 million in companies valued between €17 million and €175 million. The investment horizon generally spans four to seven years, and the firm also participates in secondary investments and co-invests in later-stage transactions initiated by the private equity funds it supports.
PMV is a do and dare company that is shaping the future of the Flemish economy. It provides funding for promising companies' businesses, from the day they first open their doors, through their various growth stages and even on to operating internationally. Working with and for the government and other partners, PMV implements projects that are important for prosperity and well-being in Flanders. PMV is convinced that entrepreneurship is crucial for the development of a prosperous future for Flanders and everyone who lives there. It firmly believes that every promising enterprise project in Flanders needs to find funding – but also that every business needs to be profitable in order to be sustainable. Which is why PMV and the companies and projects in which it invests must be profitable in the end.
Volta Ventures is a venture capital firm established in 2014 and headquartered in Ghent, Belgium, with additional offices in Amsterdam. It specializes in providing seed and early-stage funding to internet and software companies within the Benelux region. The firm focuses on investing in enterprise software startups, leveraging a team that collaborates closely with founders and management to drive growth. Volta Ventures aims to make a significant impact on its portfolio companies by identifying new markets, assisting in talent acquisition, offering strategic guidance, and facilitating subsequent financing rounds. With the support of approximately 30 business angels, Volta Ventures is dedicated to fostering innovation and development in the tech industry.
Gimv is a European investment company based in Antwerp, Belgium, with over 30 years of experience in private equity and venture capital. Founded in 1980, the firm focuses on a diverse range of sectors, including business-to-business services, financial services, healthcare, information technology, technology, media and entertainment, telecommunications, manufacturing, and life sciences. Gimv operates primarily in Belgium, France, Germany, the Netherlands, and Switzerland, managing approximately 1.8 billion EUR in investments across 85 portfolio companies. These companies collectively generate over 6 billion EUR in turnover and employ more than 28,000 professionals.
The European Innovation Council (EIC), established in 2020 and headquartered in Brussels, Belgium, is dedicated to supporting high-potential innovators, entrepreneurs, small enterprises, and researchers. Its primary focus is on fostering early-stage startups that demonstrate significant environmental, social, and governance (ESG) impacts. The EIC collaborates with private investors to co-invest in ventures, particularly within the deep technology sector, aiming to drive innovation and sustainable development across Europe. By providing financial backing and resources, the EIC seeks to enhance the growth potential of promising startups and contribute to a more innovative and competitive European economy.
Capricorn Partners NV is an independent pan-European manager of venture capital funds that invest in innovative European companies with technology as a competitive advantage. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and broad industrial experience. As of Dec 2010 [Quest Management](http://www.crunchbase.com/financial-organization/quest-management-nv) is being merged with and acquired by Capricorn Venture Partners.
Noshaq S.A., formerly known as Meusinvest, is a venture capital firm established in 1985 and based in Liège, Belgium. The firm specializes in seed, start-up, and growth capital investments in small and medium-sized enterprises, focusing on sectors such as energy, sustainable development, biotechnology, digital technologies, industry 4.0, real estate, quality food, and cultural industries. Noshaq typically invests in companies with annual revenues up to €50 million or an enterprise value up to €43 million, often taking a minority stake in these businesses. The firm may also request a seat on the Board of Directors as part of its investment strategy. In addition to equity investments, Noshaq provides financing solutions, including convertible bonds and loans, supporting strategic projects to stimulate economic development in the region.
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.
Founded in 2011, Inventures Investment Partners is an impact investment firm based in Brussels, Belgium. The firm manages the impact venture capital funds, Inventures I, which focuses on societal goals including health, education, environment, economic growth, and social progress, and Inventures II, which invests early-stage capital in smart and innovative European SMEs answering at least one of the United Nations Sustainable Development Goals.
The Innovation Fund, founded in 2015 and based in Schaerbeek, Belgium, is a venture capital firm that focuses on investing in a diverse range of sectors, including healthcare services, life sciences, material science, biosciences, process technology, and recycling technology. The firm specifically targets companies involved in healthcare devices, supplies, and commercial services, as well as businesses operating in the fields of cosmetics, advanced materials, and nanotechnology. By supporting innovative companies across these industries, The Innovation Fund aims to foster growth and development in sectors that contribute to advancements in health, sustainability, and technology.
Founded in 2001, PMV is an asset manager firm based in Brussels, Belgium. The firm seeks to invest in the startup, growth, and internationalization stage companies operating in the media, software, retail, infrastructure, energy and real estate sectors. The firm also makes investments in energy, infrastructure and real estate.
Imec.xpand is a venture capital investment firm founded in 2017 and based in Leuven, Belgium, with an additional office in Amsterdam, Netherlands. The firm specializes in early-stage investments focused on nanoelectronics-based innovations across various sectors, including deep tech, health, and agtech. Imec.xpand aims to support projects that contribute to a sustainable society, encompassing areas such as smart health, smart mobility, smart cities, smart industries, and smart energy. By leveraging its connection to imec, a leading research and development hub for nanoelectronics and digital technology, imec.xpand seeks to foster groundbreaking ideas and technologies that can drive significant advancements in these fields.
The Faktory is a private tech startup accelerator, incubator and venture capital seed fund founded by Pierre L’Hoest, the Belgian entrepreneur renowned for starting EVS Broadcast Equipment, an international TV slow motion technology valued at 422M€ in 2016. The Faktory has invested in 11 companies with a capital of over 4.5M€ under management. Our companies offer products and services to international niche markets in the areas of consumer electronics, high-technology, gaming and apps, drones, SaaS and IoT products. Our team and mentors come from all walks of life with professional experience in different countries. Furthermore, we partner with Boldstart Ventures, based in NYC, who, with over 30 years of venture tenure, oversaw the successful exits such as Divide (acquired by Google), GoInstant (acquired by Salesforce) and Rapportive (acquired by Linkedin). Based on efficient approaches like the Lean Startup and Business Model Canvas, a 360° analysis is applied to the most promising ideas. The objective is to help startups to grow by identifying and validating market niches, customer-centric development and by providing the means necessary to deploy and launch their businesses successfully.
LeanSquare is a venture capital firm and accelerator based in Liège, Belgium, founded in 2014. The firm specializes in providing seed, start-up, and growth capital investments, focusing on equity investments ranging from $0.1 million to $0.5 million. LeanSquare primarily targets opportunities in cultural and creative industries, enterprise software, and life sciences sectors. As a subsidiary of Noshaq, LeanSquare aims to support and nurture new economy startups, contributing to the development of innovative businesses in its chosen fields.
Sambrinvest S.A. is a private equity and venture capital firm located in Gosselies, Belgium, established in 1985. The firm specializes in direct and fund of funds investments, focusing on small and medium-sized enterprises primarily in the Charleroi Sud-Hainaut and Thuin districts. Sambrinvest targets various sectors including agri-food, audiovisual, gaming, automotive, biotechnology, pharmaceuticals, construction, digital technology, environmental solutions, alternative energy, manufacturing, and real estate, while excluding retail, hospitality, and banking. The firm typically invests through minority stakes, subordinated loans, and other financial instruments, with investment amounts generally not exceeding €1.25 million in companies with revenues below €50 million. Sambrinvest is recognized as an active venture capital player in its region and remains open to opportunities in additional sectors.
US Department of Energy is a government agency that regulates energy policy, research, and development. The Energy Department's mission is to ensure America’s security and prosperity by addressing its energy, environmental, and nuclear challenges through transformative science and technology solutions.
V-Bio Ventures is an independent venture capital firm based in Ghent, Belgium, founded in 2015. The firm specializes in building and financing innovative life science companies, focusing on start-up and early-stage ventures with significant growth potential. V-Bio Ventures primarily invests in the therapeutics, diagnostic therapies, and sustainable agriculture sectors across Europe. The firm is dedicated to supporting technologies that aim to deliver transformative improvements in the biotech, pharmaceutical, and agricultural industries.
The KBC Focus Fund contains two compartments. The first compartment was created to provide seed capital to selected companies from Start it @kbc. A second compartment looks at companies in Belgium, France, Germany, Netherlands and U.K. in the domains of advanced technology. We look for growth companies in nanotechnology, microelectronics and IoT.
Fund+ is a venture capital firm established in 2015 and headquartered in Leuven, Belgium. The firm focuses on investing in companies within the diagnostics, therapeutics, medical devices, and life sciences sectors. It targets seed-stage, early-stage, and later-stage companies, aiming to foster sustainable shareholder value and contribute to advancements in the life sciences industry. Fund+ is committed to generating a positive societal impact through its investments while striving to establish a leadership position in its chosen sectors.
VIB is a non-profit research institute established in 1966 and located in Zwijnaarde, Belgium. It specializes in life sciences research, focusing on applications in pharmaceuticals, agriculture, and industry. VIB collaborates closely with five prominent universities in Flanders—Ghent University, KU Leuven, University of Antwerp, Vrije Universiteit Brussel, and Hasselt University—to advance its research initiatives. The institute aims to contribute significantly to the life sciences sector by fostering innovation and development in various scientific fields.
KBC Group is a financial services provider headquartered in Brussels, Belgium, specializing in banking and insurance solutions tailored for retail clients, private banking, small and medium-sized enterprises, and mid-cap clients. The company offers a comprehensive range of products, including loans, deposits, asset management, life and non-life insurance, as well as cash management, payments, trade finance, leasing, and corporate finance services. In addition to these offerings, KBC Private Equity, the investment arm of KBC Group, focuses on providing development capital and financing buy-outs for medium-sized companies in Belgium and Central and Eastern Europe. With an experienced team of 28 professionals and over 60 active investments valued at more than EUR 400 million, KBC Private Equity aims to establish itself as a leading private equity provider in its home markets, actively participating in strategic decision-making and supporting management teams to drive growth.
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. Our investment 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.
Imec* is a world-leading independent research center in nanoelectronics and nanotechnology. Imec is headquartered in Leuven, Belgium, and has offices in Belgium, the Netherlands, Taiwan, US, China and Japan. Its staff of more than 1,650 people include over 550 industrial residents and guest researchers. In 2008, imec's revenue (P&L) was 270 million euro. Imec's More Moore research targets semiconductor scaling for the 22nm technology node and beyond. With its More than Moore research, imec invents technology for nomadic embedded systems, wireless autonomous transducer solutions, biomedical electronics, photovoltaics, organic electronics and GaN power electronics. Imec's research bridges the gap between the fundamental research at universities and R&D in the industry. It has unique processing and system know-how, intellectual property portfolio, state-of-the-art infrastructure, and a strong and worldwide network position. This makes imec a key partner for shaping the technology of the future. *imec is a registered trademark for the activities of imec International (a legal entity set up under Belgian law as a "stichting van openbaar nutâ€), imec Belgium (imec vzw supported by the Flemish Government), imec the Netherlands (Stichting imec Nederland, part of Holst Centre which is supported by the Dutch Government) and imec Taiwan (imec Taiwan Co.).
Atlas Special Opportunities is an investment fund that offers innovative solutions to people in need of finance. They are credit-oriented, but in addition to lending, they are willing to purchase an asset or equity or function as a merchant partner in arranging a transaction between two parties. Their mission is to help individuals, organizations, and asset owners achieve what they want.
Convent Capital is a private equity firm based in Amsterdam, Netherlands, established in 2011. The firm specializes in buy-outs, buy-ins, and growth capital investments in small and medium-sized enterprises, primarily focusing on companies headquartered in the Netherlands and those based in Belgium and Luxembourg. Convent Capital targets investments in businesses with an enterprise value ranging from €10 million to €50 million and an EBITDA between €2 million and €8 million. The firm emphasizes sustainability and seeks to create value through strategic and operational improvements. Convent Capital generally aims to acquire majority stakes in its portfolio companies, with a particular interest in the agriculture and food sectors.
Belfius Bank is a banking institution based in Brussels, Belgium, established in 1996 to serve the financial needs of local authorities and the broader community. The bank focuses on collecting savings deposits and investments through its distribution networks across Belgium. It reinvests these funds into society by providing loans to individuals, self-employed individuals, small and medium-sized enterprises, as well as corporate, public, and social institutions. With a diverse range of services, Belfius Bank also engages in sectors such as insurance and life sciences. The governance and management of the bank's assets are overseen by its Board of Directors, ensuring responsible stewardship and alignment with community interests.
Federal Holding and Investment Company is a private investment firm and economic development agency based in Brussels, Belgium. Established in 2006 through the merger of the Federal Participation Company and the Federal Investment Company, it manages the federal government's shareholdings and actively engages in investment activities to support the Belgian economy. The firm focuses on sectors such as aeronautics, airports, real estate, and innovations, with an emphasis on sustainable development and addressing demographic changes. Federal Holding and Investment Company seeks to make international investments and prefers to maintain a presence in the administrative bodies of its portfolio companies to align with their strategic objectives.
Andlinger and Company is a private investment and management firm that finances companies and technologies that benefit the global environment. It provides operational and management support if needed and works with management teams constructively as active board members. Andlinger and Company’s client base includes B2B or industrial clients. It also helps companies grow from local or regional producers to national and worldwide companies through establishment of agent networks, distributor networks, add-on acquisitions, or other. Andlinger and Company was founded in 1976 by Gerhard Andlinger. The company is based in the United States, Austria, and Belgium.
Vendis Capital Management is a private equity firm established in 2009, headquartered in Diegem, Belgium, with additional offices in Sweden, France, and the Netherlands. The firm specializes in investing in small to medium-sized branded consumer companies across Europe, particularly in the Benelux region, France, Germany, Austria, Switzerland, and the Nordics. Vendis Capital focuses on both development and buyout capital, supporting entrepreneurs through various stages of growth. The firm aims to invest in consumer-facing companies, including both product and retail brands, and avoids sectors such as financial services and pure media. Its investments typically range from €10 million to €60 million, targeting companies with revenues between €10 million and €300 million and EBITDA of €3 million to €30 million. Vendis Capital takes both majority and minority stakes in its portfolio companies, actively participating in management and governance, and plans to hold investments for four to seven years.
Pamica NV is an investment company based in Antwerp, Belgium, founded in 2015 by Michel Akkermans, a serial entrepreneur and private investor. The company focuses on identifying and supporting startups at various stages, including seed, early, and later stages. With a commitment to fostering innovation, Pamica seeks to provide financial backing and strategic guidance to emerging businesses. Michel Akkermans also serves on the boards of both public and private companies, bringing extensive experience in entrepreneurship and investment to the firm.
Founded in 1425, the multidisciplinary and research-driven University of Leuven (KU Leuven) has been a centre of learning for almost six centuries. Situated in Belgium, in the heart of Western Europe, KU Leuven has been a centre of learning for nearly six centuries. Today, it is Belgium's largest university and, founded in 1425, one of the oldest and most renowned universities in Europe. As a leading European research university and co-founder of the League of European Research Universities (LERU), KU Leuven offers a wide variety of international master’s programmes, all supported by high-quality, innovative, interdisciplinary research. Since its founding, KU Leuven has been based in the city that shares its name. Leuven is a pleasant, safe and bustling student town, where centuries-rich history meets cutting-edge science. The university also offers degree programmes at campuses in 11 Belgian cities, including Brussels, Ghent and Antwerp.
SmartFin is a private equity and venture capital firm established in 2014 and located in Brussels, Belgium. The firm specializes in investing in exceptional B2B technology companies throughout Europe, with a particular focus on the information technology and fintech sectors. SmartFin seeks to support growth and expansion in these industries by providing capital for promising companies.
Quest for Growth is a private equity firm based in Leuven, Belgium, focusing on investments in growth companies across various sectors. The company targets both quoted and unquoted firms, with interests in life sciences, information technology, software, semiconductors, telecommunications, healthcare equipment, engineering, and new materials, among others. Quest for Growth operates through three segments: investments in quoted equities, venture and growth capital, and venture and growth funds. Its strategic approach aims to generate capital gains, which can be distributed to shareholders without incurring withholding tax. By investing in both European and U.S. markets, Quest for Growth seeks to capitalize on opportunities in pharmaceuticals, biotechnology, cleantech, healthtech, and technology, media, and telecommunications sectors.
Down 2 Earth Capital NV is a private equity firm based in Antwerp, Belgium, founded in 2013. The firm specializes in growth capital financing and focuses on small and medium enterprises within the country. It typically invests in companies with EBITDA between €1 million and €10 million and revenues ranging from €10 million to €50 million. Down 2 Earth Capital does not engage in startup or turnaround investments and maintains a flexible approach regarding industry focus. The firm seeks both majority and minority stakes in its portfolio companies and is also involved in moderate debt financing. With an investment horizon of five to eight years, Down 2 Earth Capital aims to support entrepreneurs and managers in expanding their businesses, leveraging its partners' extensive private equity and industry experience.
Fortino Capital Partners, founded in 2013 and based in Antwerp, Belgium, is a growth and expansion firm that focuses on investing in early and mid-cycle business-to-business software-as-a-service (SaaS) companies. The firm aims to provide both capital and expertise to exceptional entrepreneurs and companies in Europe and the USA, particularly those developing software platforms designed for small and medium-sized enterprises (SMEs). Fortino Capital also targets investments in companies seeking to transform their business models by implementing best-in-class management practices and advanced technologies. The firm emphasizes building brands and go-to-market strategies, particularly for media and high-end product manufacturing sectors.
Spreds is a Belgian investment platform that employs crowdfunding techniques to facilitate investments in European start-ups and small to medium-sized enterprises (SMEs). Established in September 2012, Spreds allows individuals to invest from as little as 100 euros alongside professional investors, offering the same financial terms. The platform serves as a prominent showcase for Belgian entrepreneurship, attracting over 15,000 users from 163 countries who provide guidance and invest in emerging companies. With more than 45,000 members, Spreds has raised over 150 million euros since its launch. Notably, it was the first crowdfunding platform to create a system for young companies to make public offerings for Belgian savings, having developed a prospectus approved by the Belgian Financial Services and Markets Authority (FSMA). This development has enabled Spreds to raise unlimited funds through crowdfunding while fostering a relationship of trust with regulatory authorities. The platform aims to provide a transparent and educational investment experience, promoting diversification to mitigate risks for its users.
Ark Angels Activator Fund N.V. is a venture capital firm based in Hasselt, Belgium, that specializes in investing in early and mid-stage companies, particularly in the Flanders region. Established in 2012, the firm focuses on small and medium enterprises across various sectors, including surgical devices, health technology, and manufacturing. Ark Angels Activator Fund initially operated as a co-investor alongside business angels from BAN Vlaanderen but later expanded its collaborative efforts to include other capital providers. Although it ceased new investments in March 2017, the firm was recognized for its role in supporting young growth companies and those in transition phases, with a capital structure that included contributions from ING Belgium and other stakeholders.
Gilde Buy Out Partners is a private equity firm specializing in spin-offs, buyouts, public to private transactions, and middle-market investments. It seeks to invest in industrial, food and beverage, and business-to-business service companies. The firm makes equity investments in the range between €75 million ($107.49 million) and €600 million ($859.94 million) and enterprise value between €100 million ($143.32 million) and €500 million ($716.61 million). The firm aims to acquire a majority stake in its portfolio companies. Gilde Buy Out Partners was founded in 1982 and is based in Utrecht, Netherlands with additional offices in Paris, France; Zurich, Switzerland; and Brussels, Belgium. It is a subsidiary of Gilde Investment Management.
Seeder Fund is a venture capital firm based in Brussels, Belgium, focusing on early-stage investments in digital startups. The firm specializes in providing seed funding, offering up to EUR 200,000 to young companies that are beginning to establish commercial traction. For startups that are preparing for Series A financing, Seeder Fund can invest up to EUR 300,000 to help validate their growth potential and progress towards profitability. Additionally, the firm supports scaling companies by providing growth capital of up to EUR 1,000,000 in exchange for a capital stake. While it generally prefers to invest in companies it has previously financed, Seeder Fund remains open to exploring opportunities in other promising digital ventures.
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.
Alychlo is a family investment company based in Merelbeke, Belgium, established in 2015. Committed to enhancing the value of businesses, Alychlo focuses on investing in growth-stage companies and real estate. The company is driven by a philosophy of improving enterprises while also contributing positively to society. Through strategic investments, Alychlo aims to foster development and innovation in its portfolio, reflecting its dedication to both financial success and social responsibility.
Proximus Group is a leading telecommunications company based in Belgium, offering a wide range of ICT services to consumers, businesses, and the public sector. The company provides telephony, Internet, television, and network-based ICT solutions under its Proximus and Scarlet brands. With a significant presence in the Belgian market, Proximus holds approximately 45% of the broadband market share and 30% of the postpaid mobile market, competing primarily with Telenet and Orange. The firm is actively expanding its fiber-to-the-home network, aiming to achieve 95% coverage across Belgium by 2032. Additionally, Proximus operates an international carrier services division, BICS, which ranks among the largest globally and serves over 250 operators, bolstered by its acquisition of Telesign.
Akiles is a growth equity firm based in Rhode-Saint-Genèse, Belgium, founded in 2019. The company focuses on supporting the growth of small and medium-sized enterprises (SMEs) in Belgium through various investment strategies, including management buy-in, buyout, venture capital, and growth capital. Akiles targets opportunities in sectors such as business-to-business, business-to-consumer, energy, financial services, materials and resources, and technology, aiming to foster innovation and expansion within these industries.
Qbic II is an early-stage venture capital firm based in Ghent, Belgium, that specializes in investing in the software, deep tech, biotech, and medtech sectors. Launched in 2017, the firm collaborates with a diverse network of Belgian universities, research institutes, and hospitals to identify and support promising startups. With a focus on fostering innovation and growth, Qbic II has expanded its investor base, increasing its total assets to nearly €60 million. The investment period for this venture capital initiative concluded in 2022.
AngelWise is a venture capital firm based in Hasselt, Belgium, founded in 2022. The firm specializes in supporting startups and young companies, particularly within the information and communication technology sector, by providing guidance and resources to help them progress to the next phase of growth. AngelWise aims to empower emerging businesses by offering strategic assistance and fostering innovation in a rapidly evolving market.
Epimède SA is a venture capital firm located in Liège, Belgium, established in 2015. The firm specializes in providing early-stage and growth capital investments to small and medium-sized enterprises, particularly those in the technology sector. Its investment focus includes life sciences, such as biology and biotechnology, as well as engineering services, medtech, cleantech, and corporate services. Epimède typically invests between €1 million and €7 million in companies that have fewer than 500 employees, net capital assets not exceeding €75 million, and are not predominantly owned by non-SMEs. The firm aims to support companies with growth potential and takes an active role in their governance by participating in the Board of Directors and influencing key strategic decisions. With a strategic exit plan spanning three to five years, Epimède is dedicated to fostering the development of innovative businesses primarily based in Wallonia.
PAI Partners is a private equity firm founded in 1994 and based in Paris, France. The firm focuses on investing in companies across various sectors, including business services, food and consumer goods, general industrial, healthcare, retail, and distribution. PAI Partners aims to support the growth and development of its portfolio companies by leveraging its expertise and resources in these industries.