A new early-stage fund: Syndicate One raises €22M for Belgium’s startups

Brussels-based investor Syndicate One has hit a funding milestone with the €22 million first close of its second early-stage tech fund, underscoring a growing confidence in Belgium’s startup ecosystem.

The new capital builds on the firm’s first fund, which closed at €6.5 million in late 2024, and will be deployed to support early-stage Belgian tech companies, wherever they are based and irrespective of sector.

Backing founders with money and networks

Founded in 2022, Syndicate One combines startup capital with a founder-led network of experienced operators, investors and ecosystem builders aiming to give Belgian entrepreneurs more than just checks.

Its investors include over 120 founders and ecosystem figures, including alumni of companies such as Aikido Security, Collibra, Warren and Qover, as well as institutional backers like Sofina, Finhouse and COI.

Four Belgian public investment vehicles, PMV (Flanders), SFPIM (federal), Finance&Invest Brussels and Wallonie Entreprendre ...