Syndicate One, a prominent angel investment group composed of some of the biggest names in Belgian tech, has completed an initial €4.8 million close of its debut fund, after opening its capital to external investors for the first time in 2023.
A second (already oversubscribed) close is planned for early 2024, but this first capital injection will enable Syndicate One to hit the ground running for investments in the most ambitious Belgian early-stage ventures immediately.
Since its launch in early 2022, Syndicate One has invested in high-potential Belgian early-stage tech startups such as Techwolf, Aikido, SAPI, Kennek, Sirona Technologies and others, and connected their founders with Belgian entrepreneurs and operators who have scaled businesses such as Collibra, Showpad, Qover and Cowboy before. The aim is to further accelerate the self-reinforcing cycle of entrepreneurial success in Belgium.
More than 70 external investors answered the call for external funding in this initial close: entrepreneurs, families, and institutional investors who reflect the forces driving the Belgian economic landscape.
Vital support from leading Belgian institutional investors and families Sofina, one of Belgium’s largest holding companies with €9 billion in assets under management, growth investor and partner in top tier VC funds worldwide, will be the anchor investor for this new fund.
“Consistent with our goal to create sustainable economic value by supporting innovative businesses, we’re happy to partner with Syndicate One. Bringing Belgium’s top tech talent together in one startup ecosystem, will help scale Belgian tech innovation to new heights,” said Giulia Van Waeyenberge from Sofina.
SFPIM, Wallonie Entreprendre, and Finance Brussels, among other institutional investors, joined the ranks. A significant number of Belgian families and family offices, including Balcaen, Vlerick, Berghmans, De Clerck, Hannecart, Vindevogel, Leysen, Van Thillo, and Rolin, have also contributed to this initial close.
Laurens De Poorter, the founder of Syndicate One, added: “Belgium has everything it takes to be a flourishing tech ecosystem, but we need to work together to make that happen. This new fund adds new stakeholders to our platform built on the union of successful Belgian tech entrepreneurs. The commitment of these institutional investors, government funds, and family offices allow us to make more and larger investments in Belgian tech startups, extend our network with more professionals who can help our portfolio companies thrive, and push for systemic change with all the relevant stakeholders.”
Entrepreneurs investing in this initial close include Jeroen de Wit (Teamleader), Stephane Kurgan (Index Ventures, ex-King), Stijn Christiaens (Collibra), Pieterjan Bouten (Showpad), Martijn Theeuwissen (Datacamp), Sébastien Deletaille (Rosa), Olivier Verdin (AppTweak), Quentin Nickmans (Hexa), Matthias Geeroms (OTA Insights), Cedric De Vleeschauwer (Alan), Michel Akkermans (ex Clear2Pay), Guillaume van Rijckevorsel (Soil Capital, former Darts-ip), Alexandre Cardon (Dogchef, ex-Qustomer), Sam Heymans (Lizy), Bart Becks (Euractiv), Tim Dierckxsens (Venly). Many more have committed to follow on for the final close of the fund.
Pieterjan Bouten, co-founder of Showpad, commented: “Belgium’s technology ecosystem is rapidly evolving, yet it continues to trail behind several other regions. The Syndicate One initiative stands out as a remarkable endeavor, primarily due to its clear and targeted mission.What sets it apart even further is the extraordinary group of people it brings together – a unique blend of entrepreneurs and operators that promises to propel the Belgian tech scene forward.”
In parallel with this initial close, new members are growing the ranks of Syndicate One: Laurens De Beyter (N26), Pierrine Carlier (ex-Proxyclic, Javry), Sibylle Greindl (ex-Accountable), Martin Schmitz (DataCamp), Dieter Wachters (ex-Collibra, Raito), Pauline Brunel (Blackfin), Nicolas Vereecke (Bitcraft), Cedric Cops (Mediahuis Ventures), and Tiny De Waele (Deliverect).
