Syndicate One, a newly launched investment firm from Belgium, has successfully raised a €6.5 million fund to back Belgian founders and startups. While the amount may seem modest, the significance lies in the fact that it is the first Belgian fund to have the support of all four federal regions of the country.

This achievement is particularly notable in a country famous for its regional divisions, which have occasionally led to periods without a functioning government. The fund's launch in 2022 has already shown promising results, with investments in early-stage startups such as Techwolf, Aikido Security, Sirona Technologies, Donna, Cosmic Aerospace, Vendorvue, SAPI, Powernaut, and Kennek, among others.

The fund's founder-backers are comprised of entrepreneurs and startup operators from prominent companies like Collibra, Deliverect, Datacamp, Showpad, Qover, Cowboy, and Go Vocal. This diverse group of supporters demonstrates the collective effort to propel the Belgian startup ecosystem forward.

The four governmental funds backing the fund are PMV (Flanders), SFPIM (federal), Finance&invest.brussels (Brussels), and Wallonie Entreprendre (Wallonia). This unified support from the country's federal regions underscores the commitment to fostering innovation and entrepreneurship in Belgium.

Belgium, despite being a small country, has begun to punch above its weight in terms of 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 start-ups came close to the €500 million mark, compared to €424 million in the full year 2023.

This growth is largely driven by early-stage financing rounds, which accounted for around 77% of capital raised by Belgian tech start-ups between 2018 and H1 2024. This is significantly higher than the 42% average seen in Europe during the same period, according to Dealroom. This trend has remained consistent over the last five years, indicating a strong foundation for startup growth in Belgium.

AI companies have been particularly successful, accounting for more than 70% of the capital invested in the first half of 2024. Furthermore, foreign investor participation has been around 66% on average since 2020, demonstrating the attractiveness of Belgian startups to international investors.

Laurens De Poorter, founder of Syndicate One, emphasized the fund's mission to provide not only financing but also guidance and network support to ambitious startups. "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," De Poorter stated.

The fund's diverse group of individuals involved includes 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, among others.

In conclusion, Syndicate One's €6.5 million fund marks a significant milestone in Belgium's startup ecosystem, demonstrating the country's potential to become a hub for innovation and entrepreneurship in Europe. As the fund continues to support and guide ambitious startups, it will be exciting to watch the impact it has on the country's tech landscape.