Syndicate One Raises €22 Million to Accelerate the Growth of Belgian Tech

Syndicate One is entering a new phase with the launch of a €22 million fund, backed by some of the most influential players in the Belgian tech ecosystem. With this new capital, the fund aims to invest in around a dozen promising Belgian startups each year, with a clear objective: helping build the country’s next unicorns.

Following a first fund closed at €6.5 million at the end of 2024, Syndicate One already demonstrates a solid track record with 29 investments in startups founded by Belgian entrepreneurs. Recent portfolio companies include Sirona Technologies (CO₂ capture), Mindoo (AI agents for hospitals), and Pleasefix.AI (automation for finance). A thirtieth investment is currently being finalized.

This new vehicle focuses primarily on technology, particularly software. Average ticket sizes will be around €500,000 per startup, with a co-investment strategy alongside other funds to maximize leverage and strategic support.

The fund is backed by major institutional players such as Sofina, PMV, SFPIM, Finance&Invest.Brussels, and Wallonie Entreprendre, as well as a broad group of experienced Belgian tech entrepreneurs. Beyond capital, these stakeholders bring expertise, networks, and operational experience—strengthening the overall impact on the ecosystem.

Syndicate One can already claim involvement in two recent unicorns: Fundamental and Aikido Security, the latter also named Scale-up of the Year 2025. This new financial commitment reflects a broader trend: the growing maturity of the Belgian ecosystem and a collective ambition to build an environment where technological champions can emerge.

Belgium’s tech scene continues to consolidate — and Syndicate One intends to play a key role in shaping its next generation of success stories.