# Fortino Capital: portfolio, investments and team

> Fortino Capital is a vc firm based in Belgium. 47 investments on record, 6 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/fortino-capital (Millionrounds; every figure on the page links to its filing or article)

Belgium · [Investor](https://millionrounds.com/investors)

# Fortino Capital

Last cheque observed Sep 2026; 47 cheques on record.

Deploying now New fund $76M, Jan 2026 VC firm

Seed Series A Series B SaaS Enterprise Recurring

Deploying now

**50%** of best year **6** **cheques in 12 months**, 47 on record

Since the last cheque **34** days **00** hrs **00** min **00** sec

Median round **$8.4M** Cheque size, as they say **$1.0M – $4.0M** Rounds led **0 of 47** Sole investor **11 rounds** Mostly in **Belgium, 41%**

Pitch Fortino Capital

## Fortino Capital highlights

- 01 6 cheques in the last 12 months
- 02 Mostly Series A and Seed: 62% of its rounds
- 03 Sole investor in 11 rounds, median $3.5M

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $1.0M – $4.0M as they say
- **Stages:** Seed Series A Series B
- **Sectors:** SaaS Enterprise Recurring
- **Based in:** Antwerp, Belgium
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **47 appearances**

- **2026** 5 rounds
- **Sept** **[Spott](https://millionrounds.com/company/spott)** Series A · BE · Ventureburn **$21M** With 3 others
- **Jul** **[Operations1](https://millionrounds.com/company/operations1)** Venture · DE **$13M** With 2 others
- **Jun** **[Mkind](https://millionrounds.com/company/mkind)** Pre-seed · DE **$3.4M** With 2 others
- **May** **[Billy Grace](https://millionrounds.com/company/billy-grace)** Seed · NL **$3.7M** Sole investor
- **Feb** **[Valeria HR](https://millionrounds.com/company/valeria-hr)** Seed · ES **$2.0M** With 1 other
- **2025** 12 rounds
- **Dec** **[Donna](https://millionrounds.com/company/donna)** Series A · BE **$4.8M** With 3 others
- **Sept** **[revel8](https://millionrounds.com/company/revel8)** Seed · DE **$6.6M** Sole investor
- **Aug** **[Tanso](https://millionrounds.com/company/tanso)** Series A · DE **$14M** With 4 others
- **Jul** **[SIDES](https://millionrounds.com/company/sides)** Series A · DE **$11M** Sole investor
- **Jul** **[Seenons](https://millionrounds.com/company/seenons)** Venture · NL **Undisclosed** Sole investor
- **Jul** **[D2X Group](https://millionrounds.com/company/d2x-group)** Venture · NL **$5.0M** With 5 others
- **Jun** **[Altura Platform](https://millionrounds.com/company/altura-platform)** Series A · NL **$9.1M** With 1 other
- **Jun** **[Bizzy](https://millionrounds.com/company/bizzy)** Seed · BE **$4.6M** With 2 others
- **May** **[Spott](https://millionrounds.com/company/spott)** Seed · US **$3.2M** With 3 others
- **Mar** **[Billy Grace](https://millionrounds.com/company/billy-grace)** Seed · NL **$3.3M** Sole investor
- **Mar** **[Kosli](https://millionrounds.com/company/kosli)** Series A · US **$10M** With 2 others
- **Jan** **[Zaion](https://millionrounds.com/company/zaion)** Venture · FR · Firms' own news pages **$11M** With 2 others
- **2024** 5 rounds
- **Dec** **[TechWolf](https://millionrounds.com/company/techwolf)** Venture · BE **Undisclosed** With 2 others
- **Jul** **[illuminem](https://millionrounds.com/company/illuminem)** Seed · GB **$2.2M** With 2 others
- **Jul** **[LEGALFLY](https://millionrounds.com/company/legalfly)** Series A · BE **$16M** With 2 others
- **Jul** **[LegalflyAI](https://millionrounds.com/company/legalflyai)** Series A · BE **$15M** With 2 others
- **Mar** **[Vaultspeed](https://millionrounds.com/company/vaultspeed)** Venture · BE **Undisclosed** With 3 others
- **2023** 3 rounds
- **Nov** **[Vaultspeed](https://millionrounds.com/company/vaultspeed)** Series A · BE **$16M** With 3 others
- **Oct** **[Vertuoza](https://millionrounds.com/company/vertuoza)** Series A · BE **$11M** With 2 others
- **Jun** **[Salonkee](https://millionrounds.com/company/salonkee)** Series B · LU **$30M** With 3 others
- **2022** 6 rounds
- **Nov** **[LetsBuild](https://millionrounds.com/company/letsbuild)** Seed · BE **$6.1M** With 1 other
- **Oct** **[MobieTrain](https://millionrounds.com/company/mobietrain)** Series B · BE **$9.0M** With 3 others
- **Apr** **[Venly](https://millionrounds.com/company/venly)** Series A · US **$22M** With 3 others
- **Mar** **[Flowlity](https://millionrounds.com/company/flowlity)** Seed · FR **$5.5M** With 3 others
- **Mar** **[Getvisibility](https://millionrounds.com/company/getvisibility)** Series A · IE **$11M** With 2 others
- **Jan** **[Timeseer.AI](https://millionrounds.com/company/timeseer-ai)** Seed · BE **$6.0M** With 2 others
- **2021** 3 rounds
- **Dec** **[Reveall](https://millionrounds.com/company/reveall)** Pre-seed · NL **$1.7M** With 1 other
- **Nov** **[Peers Solutions](https://millionrounds.com/company/peers-solutions)** Seed · DE **$3.4M** With 1 other
- **Jun** **[Kaizo](https://millionrounds.com/company/kaizo)** Seed **$4.0M** With 3 others
- **2019** 2 rounds
- **Apr** **[SupplyStack](https://millionrounds.com/company/supplystack)** Series A · BE · Tech.eu **$5.6M** With 3 others
- **Mar** **[Bloomon](https://millionrounds.com/company/bloomon)** Series C · NL · Siliconcanals **$8.4M** With 2 others
- **2018** 3 rounds
- **Aug** **[Teamleader](https://millionrounds.com/company/teamleader)** Series C · BE · TechCrunch **$22M** With 4 others
- **Jul** **[Dobco Medical Systems](https://millionrounds.com/company/dobco-medical-systems)** Venture **$2.6M** Sole investor
- **Jun** **[BuyBay](https://millionrounds.com/company/buybay)** Grant **$3.2M** With 1 other
- **2017** 2 rounds
- **Dec** **[MobileXpense](https://millionrounds.com/company/mobilexpense)** BE · Realdeals **$24M** Sole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **2 named**

AM **Andrea Manoli** Class B manager i Filing they signed

CB **Celine Bruna Betty Vanbever** Class A manager. i Filing they signed

We also hold **7** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

New fund on file

**$76M**

raised in Jan 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$8.4M** the round, not its cheque Alone, median **$3.5M**

Led 0 of 47 rounds **0%**

- **Said size:** $1.0M – $4.0M
- **Sole investor:** 11 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Series A said *15*
- Seed said *13*
- Venture *8*
- Series B said *5*
- Pre-seed *2*
- Series C *2*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [PMV](https://millionrounds.com/fund/pmv) 4
- [BNP Paribas](https://millionrounds.com/fund/bnp-paribas) 3
- [Notion Capital](https://millionrounds.com/fund/notion-capital) 3
- [Octopus Ventures](https://millionrounds.com/fund/octopus-ventures) 3
- [Partech Ventures](https://millionrounds.com/fund/partech) 3
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 3

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## Who they invest alongside

The investors most often in the same rounds as Fortino Capital. A count of rooms they were both in, not a relationship either has claimed.

[**PMV** Government **4** rounds together](https://millionrounds.com/fund/pmv)[**BNP Paribas** VC firm **3** rounds together](https://millionrounds.com/fund/bnp-paribas)[**Notion Capital** VC firm **3** rounds together](https://millionrounds.com/fund/notion-capital)[**Octopus Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/octopus-ventures)[**Partech Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/partech)[**Y Combinator** Accelerator **3** rounds together](https://millionrounds.com/fund/y-combinator)[**42CAP** VC firm **2** rounds together](https://millionrounds.com/fund/42cap)[**Base10 Partners** VC firm **2** rounds together](https://millionrounds.com/fund/base10-partners)[**Bpifrance** Government **2** rounds together](https://millionrounds.com/fund/bpifrance)[**Limburgse Reconversie Maatschappij** VC firm **2** rounds together](https://millionrounds.com/fund/limburgse-reconversie-maatschappij)[**Picus Capital** VC firm **2** rounds together](https://millionrounds.com/fund/picus-capital)[**Pitchdrive** VC firm **2** rounds together](https://millionrounds.com/fund/pitchdrive)

## Recently backed

The latest companies Fortino Capital put money into.

[**Spott** $21M · Sept 2026](https://millionrounds.com/company/spott)[**Mkind** $3.4M · Jun 2026](https://millionrounds.com/company/mkind)[**Billy Grace** $3.7M · May 2026](https://millionrounds.com/company/billy-grace)[**Valeria HR** $2.0M · Feb 2026](https://millionrounds.com/company/valeria-hr)[**revel8** $6.6M · Sept 2025](https://millionrounds.com/company/revel8)[**Tanso** $14M · Aug 2025](https://millionrounds.com/company/tanso)

## Mentioned on podcasts

Episodes that name Fortino Capital in their description, not their title.

- [Scaling Europe](https://millionrounds.com/podcasts/scaling-europe) 2 Dec 2025 · 24 min Nicolas and Jonas: Cofounders of Donna announcing their $4.8m Seed round! Mentions [Fortino Capital](https://millionrounds.com/fund/fortino-capital)[Frontline Ventures](https://millionrounds.com/fund/frontline-ventures) Apple PodcastsShow page

## Quick answers about Fortino Capital

### What does Fortino Capital invest in?

Fortino Capital invests most often at Series A and Seed (62% of the rounds on record), in sectors such as SaaS, Enterprise and Recurring.

### How active is Fortino Capital?

47 investments on record, 6 of them in the last 12 months. The most recent was in Sept 2026.

### What has Fortino Capital invested in recently?

Its most recent investments on record: Spott (Series A, Sept 2026), Operations1 (Venture, Jul 2026) and Mkind (Pre-seed, Jun 2026).

### How big are Fortino Capital's cheques?

The median round it joins is $8.4M. It says it writes cheques of $1.0M to $4.0M.

### Does Fortino Capital lead rounds?

Rarely, if at all: none of its 47 investments on record names it as the lead.

### Where does Fortino Capital invest?

Most of the companies it backs are in Belgium (41%), the Netherlands (19%) and Germany (16%).

### Is Fortino Capital investing now?

Yes: it is actively investing, with 6 investments in the last 12 months.

### Who does Fortino Capital invest alongside?

Most often PMV (4 rounds together), BNP Paribas (3 rounds together) and Notion Capital (3 rounds together).

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