Syndicate One is a debut investment firm out of Belgium that has raised a €6.5 million fund to back Belgian founders and startups. While the amount is small, the significance is that it is the first Belgian fund to have the support of all four federal regions of the country. This, in a country that is famous for its regional divisions, and even periodically going without an actual government.
Over 100 entrepreneurs and startup operators have backed the fund, which launched in 2022 and has since invested in early-stage startups such as TechWolf, Aikido Security, Sirona Technologies, Donna, Cosmic Aerospace, Vendorvue, SAPI, Powernaut, Kennek, and others.
The fund’s founder-backers are drawn from such companies as Collibra, Deliverect, DataCamp, Showpad, Qover, Cowboy, and Go Vocal.
The four governmental funds backing the fund are PMV (Flanders), SFPIM (federal), Finance&invest.brussels (Brussels), and Wallonie Entreprendre (Wallonia).
Belgium, despite being a small country, has begun to punch above its weight for developing startups in Europe.
According to the State of Belgian Tech Report 2024 (compiled by Dealroom), in H1 2024, the total amount invested into eight Belgian tech startups came close to €500 million, compared to €424 million in the full year 2023.
In the period 2018 to H1 2024, early-stage financing rounds accounted for around 77% of capital raised by Belgian tech startups, compared to only 42% in Europe in the same period. This difference has remained consistent in the last five years, according to Dealroom.
Join 10k+ tech and VC leaders for growth and connections at Disrupt 2025
Netflix, Box, a16z, ElevenLabs, Wayve, Hugging Face, Elad Gil, Vinod Khosla — just some of the 250+ heavy hitters leading 200+ sessions designed to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss the 20th anniversary of TechCrunch, and a chance to learn from the top voices in tech. Grab your ticket before doors open to save up to $444.
Join 10k+ tech and VC leaders for growth and connections at Disrupt 2025
Netflix, Box, a16z, ElevenLabs, Wayve, Hugging Face, Elad Gil, Vinod Khosla — just some of the 250+ heavy hitters leading 200+ sessions designed to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss a chance to learn from the top voices in tech. Grab your ticket before doors open to save up to $444.
AI companies accounted for more than 70% of the capital invested in the first half of 2024, while foreign investor participation has been around 66% on average since 2020.
Laurens De Poorter, founder of Syndicate One, said in a statement: “By uniting investors, operators, and founders, we’ve created a platform that not only finances ambitious startups but also provides the guidance and network they need to thrive.”
Individuals involved in the fund include TechWolf co-founder Andreas De Neve; Aikido Security co-founders Felix Garriau, Roeland Delrue, and Willem Delbare; Botanix Labs founder and CEO Willem Schroe; Holly co-founder Boris Gordts; and Vendorvue co-founder Michiel Bearelle.
