Top VC Firms in Belgium
The 25 highest-scoring venture funds headquartered in Belgium, ranked from 50 eligible firms on a 110-point composite of portfolio outcomes, deal volume, risk adjustment and cheque-size fit.
The EIC Accelerator program invests in innovative companies with a focus on artificial intelligence and data. They provide equity and debt financing to support the growth of companies primarily located in Europe.
Investments
94
Exit Rate
2%
Alive
88
Portfolio Outcomes
Score Breakdown
Hi Inov is a European B2B venture capital firm that invests in early-stage companies. They focus on startups driving digital transformation and deep tech innovation, particularly in SaaS, AI, and IT management.
Investments
57
Exit Rate
11%
Alive
36
Portfolio Outcomes
Score Breakdown
Invests in early- to mid-stage life science companies with high growth potential. Focuses on transformational innovations in biotech, pharmaceutical, and agricultural sectors.
Investments
25
Exit Rate
7%
Alive
18
Portfolio Outcomes
Score Breakdown
Vesalius Biocapital III invests in innovative biotech and life sciences companies primarily in Europe, focusing on transformative therapies and technologies with strong growth potential in healthcare.
Investments
45
Exit Rate
27%
Alive
21
Portfolio Outcomes
Score Breakdown
Verlinvest-CR JV invests in innovative consumer brands and retail ventures in growth stages, focusing on companies that blend tradition with modern consumer trends to deliver sustainable value.
Investments
57
Exit Rate
2%
Alive
43
Portfolio Outcomes
Score Breakdown
Capricorn Venture Partners invests in innovative companies in healthtech, cleantech, and software sectors across seed to series B stages, focusing on scalability and sustainability-driven growth.
Investments
19
Exit Rate
12%
Alive
12
Portfolio Outcomes
Score Breakdown
Investments
17
Exit Rate
6%
Alive
11
Portfolio Outcomes
Score Breakdown
Invests in early-stage startups, demonstrated by participation in the $6m seed round of Belgian deeptech startup Belfort focused on novel chip technology for fully encrypted data processing.
Investments
21
Exit Rate
4%
Alive
19
Portfolio Outcomes
Score Breakdown
Invests in early-stage and growth startups across Europe and Silicon Valley. Focuses on data, AI, and robotics sectors.
Investments
10
Exit Rate
0%
Alive
7
Portfolio Outcomes
Score Breakdown
Hummingbird Ventures is a venture capital firm that invests in early-stage technology companies with global ambitions. They focus on disruptive technologies and scalable business models across various sectors.
Investments
66
Exit Rate
4%
Alive
54
Portfolio Outcomes
Score Breakdown
Investments
6
Exit Rate
17%
Alive
4
Portfolio Outcomes
Score Breakdown
Focuses on companies in Belgium. Invests in the Commerce & Marketing and Healthcare & Life Sciences sectors, primarily in later stage companies.
Investments
28
Exit Rate
0%
Alive
17
Portfolio Outcomes
Score Breakdown
Focuses on growth and buyout capital for European energy transition scaleups and SMEs. They invest in companies that enable electrification and accelerate the energy transition, targeting grid enhancement, sustainable buildings, and industrial decarbonization.
Investments
14
Exit Rate
0%
Alive
11
Portfolio Outcomes
Score Breakdown
Investments
55
Exit Rate
—
Alive
—
Portfolio Outcomes
Not enough tracked outcomes yet
Score Breakdown
Astanor Ventures is a venture capital firm that invests in startups that are transforming the food and agriculture industry. They focus on companies that are developing sustainable and regenerative solutions to improve the food system, from farm to table.
Investments
27
Exit Rate
4%
Alive
20
Portfolio Outcomes
Score Breakdown
InnoEnergy invests in innovation-driven startups focused on clean energy, sustainability, and digital transformation to scale solutions addressing major societal challenges in Europe.
Investments
6
Exit Rate
0%
Alive
4
Portfolio Outcomes
Score Breakdown
GIMV invests in companies with a focus on healthcare and life sciences. They provide capital for growth and expansion, often participating in series B and later rounds.
Investments
137
Exit Rate
14%
Alive
79
Portfolio Outcomes
Score Breakdown
Investments
7
Exit Rate
30%
Alive
5
Portfolio Outcomes
Score Breakdown
Investments
51
Exit Rate
2%
Alive
31
Portfolio Outcomes
Score Breakdown
Investments
12
Exit Rate
0%
Alive
12
Portfolio Outcomes
Score Breakdown
Mediahuis Ventures is the corporate venture capital arm of Mediahuis, a leading European media group. They invest in innovative and fast-growing digital companies in sectors such as media tech, ad tech, marketplaces, and the future of work, seeking both financial returns and strategic value.
Investments
11
Exit Rate
0%
Alive
8
Portfolio Outcomes
Score Breakdown
Focuses on early-stage companies in Belgium. Primarily invests in the Healthcare & Life Sciences sector.
Investments
14
Exit Rate
0%
Alive
9
Portfolio Outcomes
Score Breakdown
Investments
10
Exit Rate
13%
Alive
13
Portfolio Outcomes
Score Breakdown
Investments
7
Exit Rate
0%
Alive
7
Portfolio Outcomes
Score Breakdown
Innovation Industries focuses on early-stage investments in Belgium and the Netherlands. They primarily target companies in the Industry & Hardware sector, often participating in Series A rounds.
Investments
52
Exit Rate
0%
Alive
38
Portfolio Outcomes
Score Breakdown
Methodology
What the score measures, who is eligible, and what it deliberately excludes.
- How is the Brouky score for Belgium calculated?
- Each firm is scored out of 110 points across four measured components: portfolio outcomes (40), deal volume (30), risk adjustment (25) and cheque-size fit (15). The score is computed from tracked investments and portfolio company status. It is not editorial and firms cannot influence it.
- Which firms are eligible for the Belgium ranking?
- Venture and corporate venture funds headquartered in Belgium with at least 5 tracked investments. 50 firms qualify; the top 25 are listed. Angel investors, family offices, banks, accelerators and government vehicles are excluded because they are scored on a different basis and are not comparable.
- How often is the ranking updated?
- Scores are recomputed as new investments and portfolio outcomes are recorded, and this page refreshes daily.
- My fund's data looks wrong. Can it be corrected?
- Yes. Claim the fund's profile on Brouky to review the underlying investments and portfolio records, and the score updates from the corrected data.