Investor Lists

VC firms based in Belgium

Updated 7 November 2026

VC firms headquartered in Belgium.

See all 186 →The top 25
186investors on the listNo change this week
149cheques in 12 months-5% against the market
$5.5Mmedian round they joined-31% against the market median
19%wrote a cheque in 12 months
13%have led a round

The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (16)

  1. 1European CommissionDeploying nowVC firm · Belgium160$2.8Mmedian roundSept 2026last seen
  2. 2Capricorn PartnersDeploying nowVC firm · Belgium84$8.3Mmedian roundOct 2026last seen
  3. 3Thibaud ElziereDeploying nowVC firm · Belgium59$3Mmedian roundApr 2026last seen
  4. 4EurostarsDeploying nowVC firm · Belgium49$2.6Mmedian roundJul 2026last seen
  5. 5PitchdriveDeploying nowVC firm · Belgium49$1.6Mmedian roundOct 2026last seen
  6. 6Astanor VenturesDeploying nowVC firm · Belgium47$10Mmedian roundOct 2026last seen
  7. 7Fortino CapitalDeploying nowVC firm · Belgium47$8.4Mmedian roundSept 2026last seen
  8. 8Volta VenturesDeploying nowVC firm · Belgium41$3Mmedian roundJul 2026last seen
  9. 9Qbic FundDeploying nowVC firm · Belgium40$7Mmedian roundJul 2026last seen
  10. 10Limburgse Reconversie MaatschappijDeploying nowVC firm · Belgium32$2.3Mmedian roundJul 2026last seen
  11. 11Quest for GrowthquietVC firm · Belgium24$8.3Mmedian roundJul 2024last seen
  12. 12Big Bang VenturesquietVC firm · Belgium17$3.2Mmedian roundMar 2013last seen
  13. 13LRMDeploying nowVC firm · Belgium15$4.2Mmedian roundDec 2025last seen
  14. 14SmartfinDeploying nowVC firm · Belgium15$13Mmedian roundOct 2026last seen
  15. 15E-MergequietVC firm · Belgium14$1.2Mmedian roundNov 2015last seen
  16. 16Innovation FundquietVC firm · Belgium14$8.1Mmedian roundMar 2025last seen
  17. 17VIBDeploying nowVC firm · Belgium12$23Mmedian roundJun 2026last seen
  18. 18imec.xpandDeploying nowVC firm · Belgium10$13Mmedian roundSept 2026last seen
  19. 19Droia VenturesDeploying nowVC firm · Belgium9$67Mmedian roundNov 2026last seen
  20. 20Inventures SAquietVC firm · Belgium9$406Kmedian roundJun 2014last seen
  21. 21Lean FundquietVC firm · Belgium9$235Kmedian roundFeb 2015last seen
  22. 22Allegro Investment FundquietVC firm · Belgium9$2.5Mmedian roundMay 2012last seen
  23. 23FinindusquietVC firm · Belgium8$8.3Mmedian roundOct 2025last seen
  24. 24MeusinvestquietVC firm · Belgium8$17Mmedian roundJan 2019last seen
  25. 25VIVES PartnersDeploying nowVC firm · Belgium8$56Mmedian roundSept 2026last seen
161 more on this list

All 186 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

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Quick answers about VC firms based in Belgium

Who are the most active VC firms based in Belgium?

By cheques observed, the most active are European Commission, Capricorn Partners, Thibaud Elziere, Eurostars and Pitchdrive.

How many VC firms based in Belgium are there?

186 are on record. 19% made an investment in the last 12 months and 13% have led a round.

Which stages do VC firms based in Belgium back?

Of the rounds with a named stage in the last 12 months, mostly Seed (33%) and Series A (23%).

How big are the rounds VC firms based in Belgium join?

The typical (median) round among the leading investors here is $7M.

Which sectors do VC firms based in Belgium back most?

In the last 12 months, mostly AI, Biotech and Healthcare.

Which VC firms based in Belgium lead the most rounds?

Capricorn Partners (19 led), Smartfin (5 led) and Astanor Ventures (3 led).

What have VC firms based in Belgium invested in recently?

Recent rounds include Anaheim Bio (Series A, Nov 2026, with Droia Ventures), Wormsensing (Series A, Nov 2026, with KBC Focus Fund) and Setara Biosciences (Series A, Oct 2026, with Droia Ventures).

How is this list of VC firms based in Belgium ranked?

By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night.

Built from the rounds we watched, refreshed every night. How we count · Report a correction