# Innovation Fund: portfolio, investments and team > Innovation Fund is a vc firm based in Belgium. 14 investments on record, latest Mar 2025. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/innovation-fund (Millionrounds; every figure on the page links to its filing or article) Belgium · [Investor](https://millionrounds.com/investors) # Innovation Fund Last cheque observed Mar 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds. Email Quiet VC firm Seed Series A Series B ESG Renewables Renewable Follow Innovation Fund and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Finnovation-fund) Cheques on record **0%** of best year **0** **cheques in 12 months**, 14 on record Since the last cheque **609** days **00** hrs **00** min **00** sec Median round **$8.1M** Rounds led **0 of 14** Sole investor **1 rounds** Mostly in **United States, 57%** Pitch Innovation Fund ## Innovation Fund highlights - 01 14 rounds on record - 02 Mostly Venture and Grant: 62% of its rounds - 03 Sole investor in 1 rounds, median $25K ## What they do > The Innovation Fund sa/nv invests in innovative startups and companies active in the field of chemistry and life sciences. From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B - **Sectors:** ESG Renewables Renewable - **Based in:** Schaerbeek, Belgium - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **14 appearances** - **2025** 2 rounds - **Mar** **[Aloxy](https://millionrounds.com/company/aloxy)** Venture · BE · Firms' own news pages **$8.1M** With 6 others - **Feb** **[Fyteko](https://millionrounds.com/company/fyteko)** Series B · BE · Silicon Canals **$14M** With 6 others - **2021** 1 round - **Apr** **[REIN4CED NV](https://millionrounds.com/company/rein4ced-nv)** Series B · BE · Capricorn Partners **$8.3M** With 5 others - **2019** 1 round - **May** **[Tools4Patient](https://millionrounds.com/company/tools4patient)** Series B · BE · Prnewswire **$4.5M** With 1 other - **2018** 1 round - **Nov** **[WriteReader](https://millionrounds.com/company/writereader)** DK · EU-Startups **$1.6M** With 2 others - **2014** 2 rounds - **Dec** **[Cristal Therapeutics](https://millionrounds.com/company/cristal-therapeutics)** Venture · NL **$7.5M** With 4 others - **Feb** **[ExpenseBot](https://millionrounds.com/company/expensebot)** Grant · US **$25K** Sole investor - **2012** 6 rounds - **Mar** **[via680](https://millionrounds.com/company/via680)** Seed · US · finsmes.com **$100K** With 1 other - **Mar** **[Quixby](https://millionrounds.com/company/quixby)** Grant · US · finsmes.com **$25K** With 1 other - **Mar** **[ScoreFeeder](https://millionrounds.com/company/scorefeeder)** Venture · US · finsmes.com **$25K** With 1 other - **Mar** **[Zuga Medical](https://millionrounds.com/company/zuga-medical)** Seed · US · finsmes.com **$100K** With 1 other - **Mar** **[TIP Imaging](https://millionrounds.com/company/tip-imaging)** Venture · US · finsmes.com **$100K** With 1 other - **Mar** **[Campus Shift](https://millionrounds.com/company/campus-shift)** Venture · US · finsmes.com **$40K** With 1 other - **2011** 1 round - **Sept** **[eFuneral](https://millionrounds.com/company/efuneral)** Grant · US · google.com **$25K** With 1 other 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 We hold **3** 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. ## The cheque Seed Series A Series B Median round joined **$8.1M** the round, not its cheque Alone, median **$25K** Led 0 of 14 rounds **0%** - **Sole investor:** 1 rounds - **Last cheque:** Mar 2025 Rounds by stage said on their site - Venture *5* - Grant *3* - Series B said *3* - Seed said *2* - Series A said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Partners HealthCare Innovation](https://millionrounds.com/fund/partners-healthcare-innovation) 6 **Pitching Innovation Fund?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Innovation Fund. A count of rooms they were both in, not a relationship either has claimed. [**Partners HealthCare Innovation** Corporate VC **6** rounds together](https://millionrounds.com/fund/partners-healthcare-innovation) ## Recently backed The latest companies Innovation Fund put money into. [**Aloxy** $8.1M · Mar 2025](https://millionrounds.com/company/aloxy)[**Fyteko** $14M · Feb 2025](https://millionrounds.com/company/fyteko) ## On podcasts 4 episodes naming Innovation Fund in the title, and 4 more that mention it. - [Startup Europe](https://millionrounds.com/podcasts/sifted) 18 Dec 2025 · 47 min NATO Innovation Fund chair Fiona Murray: ‘The threat from Russia is extremely real’ Mentions [Innovation Fund](https://millionrounds.com/fund/innovation-fund)[Klaus Hommels](https://millionrounds.com/fund/klaus-hommels) Apple Podcasts - [VC10X](https://millionrounds.com/podcasts/vc10x) 29 Oct 2024 · 54 min VC10X - Ohio investor with 5 IPOs & 15 mega exits - Bill Baumel, Managing Director, Ohio Innovation Fund With [Bill Baumel](https://millionrounds.com/person/bill-baumel) Mentions [Innovation Fund](https://millionrounds.com/fund/innovation-fund)[Ohio Innovation Fund](https://millionrounds.com/fund/ohio-innovation-fund) Apple PodcastsShow page - [Venture Unlocked](https://millionrounds.com/podcasts/venture-unlocked) 16 Mar 2021 · 37 min Clara Brenner of Urban Innovation Fund - Venture Unlocked 026 With [Clara Brenner](https://millionrounds.com/person/clara-brenner) Mentions [Innovation Fund](https://millionrounds.com/fund/innovation-fund)[Urban Innovation Fund](https://millionrounds.com/fund/urban-innovation-fund)[Julie Lein](https://millionrounds.com/person/julie-lein) Apple PodcastsShow page - [This Week in Startups](https://millionrounds.com/podcasts/this-week-in-startups) 25 Oct 2019 · 1h 17m E993: Superhuman CEO Rahul Vohra shares the formula for his Product-Market Fit Engine; Future of Angel Investing w/Jeff Clavier (Uncork), Ben Ling (Bling), Clara Brenner (Urban Innovation Fund); plus LAUNCH Scale Partner Talk w/Help Scout VP of Sales Tim With [Clara Brenner](https://millionrounds.com/person/clara-brenner) Mentions [Ben Ling](https://millionrounds.com/fund/ben-ling)[Innovation Fund](https://millionrounds.com/fund/innovation-fund)[Jeff Clavier](https://millionrounds.com/fund/jeff-clavier) *+4* Apple PodcastsShow page ### Mentioned in - [TBPN](https://millionrounds.com/podcasts/tbpn) 27 Mar 2026 · 2h 40m $2B Allergy Drug, ChatGPT Ads, Mansion Section | Billy Boman, Benjamin Miller, Faris Sbahi, Evan Loomis, Anvisha Pai, Ryan Tseng Apple PodcastsShow page - [Scaling Europe](https://millionrounds.com/podcasts/scaling-europe) 27 Mar 2026 · 22 min Defence, security and resilience funding in Europe grew 4x in 5 years: Sander Verbrugge Apple PodcastsShow page - [Startup Europe](https://millionrounds.com/podcasts/sifted) 14 Aug 2025 · 14 min Meet Europe’s ‘other’ defence tech unicorn: Tekever Apple Podcasts - [Reflections on Private Markets](https://millionrounds.com/podcasts/rpm-stepstone) 11 Jun 2025 · 25 min Responsible use in DUT and defense investing with Suzanne Tavill and Brooke Latham Apple PodcastsShow page ## Quick answers about Innovation Fund ### What does Innovation Fund invest in? Innovation Fund invests most often at Venture and Grant (62% of the rounds on record), in sectors such as ESG, Renewables and Renewable. ### How active is Innovation Fund? 14 investments on record, 0 of them in the last 12 months. The most recent was in Mar 2025. ### What has Innovation Fund invested in recently? Its most recent investments on record: Aloxy (Venture, Mar 2025), Fyteko (Series B, Feb 2025) and REIN4CED NV (Series B, Apr 2021). ### How big are Innovation Fund's cheques? The median round it joins is $8.1M. ### Does Innovation Fund lead rounds? Rarely, if at all: none of its 14 investments on record names it as the lead. ### Where does Innovation Fund invest? Most of the companies it backs are in the United States (57%), Belgium (29%) and Denmark (7%). ### Is Innovation Fund investing now? No investments in the last 12 months; the latest was in Mar 2025. ### Who does Innovation Fund invest alongside? Most often Partners HealthCare Innovation (6 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=innovation-fund) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=innovation-fund)