The New Syndicate One fund joins Belgium’s small-but-punchy tech ecosystem

Syndicate One is the first investment firm from Belgium to raise a 6.5 million euro fund to support Belgian founders and startups. Although the amount is small, the important thing is that it is the first fund in Belgium that has support in all four regions of the country. This, in a country famous for its regional divisions, and even occasionally without a real government.

More than 100 entrepreneurs and startups supported the fund that was established 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 founders of this fund are taken from companies such as Collibra, Deliverect, Datacamp, Showpad, Qover, Cowboy and Go Vocal.

The four public funds supporting the fund are PMV (Flanders), SFPIM (federal), Finance&invest.brussels (Brussels) and Wallonie Entreprendre (Wallonia).

Belgium, despite being a small country, has started to punch above its weight in developing startups in Europe.

According to the State of Belgian Tech Report 2024 (compiled by Dealroom), in H1 2024, the total amount invested in eight Belgian tech startups is close to 500 million euros, compared to 424 million euros in the full year of 2023.

In the period 2018 to H1 2024, early funding rounds accounted for almost 77% of the capital raised by Belgian technology startups, compared to only 42% in Europe during the same period. This difference has remained the same for the past five years, according to Dealroom.

AI companies accounted for more than 70% of the capital invested in the first half of 2024, while the participation of foreign investors was about 66% on average as of 2020.

Laurens De Poorter, founder of Syndicate One, said in a statement: “By bringing together investors, operators, and founders, we have created a platform that not only funds startups but also provides the guidance and network they need to succeed.”

People participating in the fun included TechWolf founder Andreas De Neve, Aikido Security co-founders Felix Garriau, Roland Delrue, and Willem Delbare, Botanix Labs founder and CEO Willem Schroe, co-founder Holly u -Boris Gordts, and co-founder of Vendorvue Michiel. Bearel.