Syndicate One closes €22 million fund to further accelerate the tech ecosystem

Belgium, Monday 23 February 2026 - Syndicate One, the leading international network-driven investment firm backing Belgium’s most ambitious startup entrepreneurs, has successfully concluded the first close of its second fund at €22 million to boost its efforts to scout, support and scale the next generation of outlier tech founders and operators.

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Despite a challenging global fundraising environment, the new Syndicate One fund was oversubscribed within 8 weeks after the first pitch, underscoring the appetite of investors to support the next generation of Belgian startups and elevate the tech ecosystem to new heights.

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The capital raise, which follows Syndicate One’s €6.5 million fund closed in late 2024, will enable the expanding investor network to identify, finance and support more Belgian stand-out founders, wherever they are and whichever sector they focus on, and help them on their journey to become tomorrow’s tech leaders.

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Since its launch in early 2022, Syndicate One has invested in high-potential Belgian early-stage startups such as Aikido Security, Techwolf, Conveo, Sirona Technologies, Donna, Warren, SAPI, Ravical, Cosmic Aerospace, Powernaut, Tekst, Mindoo and others. 

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Two of Syndicate One’s early investments, Fundamental and Aikido Security, have since been crowned ‘unicorns’ with a private valuation in excess of $1 billion.

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Syndicate One’s unique model also enabled to share with startup founders a wealth of expertise and connections with a range of Belgian entrepreneurs and operators who have helped scale businesses such as Collibra, Deliverect, Accountable, DataCamp, Showpad, THEO Technologies, N26, EyeSee, Oper and Bnewable, among many others.

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The depth and breadth of the Syndicate One community offers a unique platform for founders to leverage, enabling them to gain direct insights on investments, operations, go-to-market and sales, platform development, marketing and PR, and many more topics.

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The new fund will be run in conjunction with a highly-skilled network of founders, investors, operators and executives with relevant startup and VC experience, and managed by Syndicate One founder Laurens De Poorter together with founding members Arnaud Bakker and Robin Wauters. 

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“Our €22 million fund is a strong signal that the Belgian tech ecosystem is maturing and compounding. What started as a tight-knit network of ambitious founders and operators has evolved into a powerful flywheel, where today’s founders become tomorrow’s backers. We are doubling down on exceptional Belgian entrepreneurs, wherever they are in the world, and on the ecosystem initiatives that help them scale faster, think bigger and build globally competitive companies from day one,” said Laurens De Poorter, the original founder of Syndicate One.

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A growing investor base

‍Syndicate One was the first Belgian investment firm with backing from four governmental funds: PMV (Flanders), SFPIM (federal), Finance&Invest Brussels and Wallonie Entreprendre. Together with prior anchor investor Sofina and new institutional backers such as Finhouse and COI. All prior institutional investors have recommitted to the new fund.

Founders and ecosystem builders who’ve invested in Syndicate One’s €22 million fund include Felix Garriau, Roeland Delrue and Willem Delbare (Aikido Security), Matthias Geeroms (Lighthouse), Stijn Christiaens (Collibra), Andreas De Neve (TechWolf), Cedric De Vleeschauwer, David Du Pré and Jos Polfliet (Warren), Alexis Eggermont (Accountable), JC Velge (Qover), Sebastien Deletaille (Rosa), Thoralf Gutierrez (Sirona), Elise Pepermans (ImmuneSpec), Benoit Deper (Aerospacelab), Benjamin Schrauwen (Oqton), Raf Mertens (CrazyGames), Jeroen De Wit (Teamleader), Dewi Van De Vyver (Effex), Hendrik Isebaert and Pieterjan Bouten (Showpad), Sam Heymans (Lizy), Otto Debals (Segments, Uber), Tom Vroemans (Gorilla, Spencer, November Five), Victor & Louis Mortreu (Just Russel), Willem Schroe (Botanix Labs), Michiel Van Beirendonck (Belfort), Michiel Bearelle (Officient, Vendorvue), Benoit Baervoets (Eagl) and many more.

It’s a testament to the ever-faster spinning Belgian tech flywheel that Syndicate One now counts many of the founders of the companies it has backed in the past as its investors to boot.

In total, more than 120 entrepreneurs have answered the call to back Syndicate One in its mission to level up the growing Belgian tech ecosystem, alongside many of Belgium’s most entrepreneurial families.
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Ecosystem building

Together with Sofina, SFPIM and Bain & Co, Syndicate One recently released the second ‘State of Belgian Tech Report’, marking the maturation of the ecosystem, and will continue to develop initiatives to expedite this evolution.

The network-driven fund recently released the second iteration of the ‘Syndicate One Convertible’, a standardised convertible loan agreement (CLA) for early-stage financing of Belgian startups, and launched a video podcast to highlight the exceptional talent Belgium has to offer though wide-ranging interviews..

In addition, Syndicate One will continue to organise events, workshops and meetups, and engage in other activities in support of its mission to elevate the Belgian tech ecosystem.

Syndicate One and its investors are fully committed to continue driving the advancement of the early-stage startup ecosystem in Belgium to enable the creation and growth of more scale-ups and unicorns in the future.
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About Syndicate One

Syndicate One is an international network-driven fund making early-stage investments into high-potential Belgium-based and Belgian-founded tech startups. Syndicate One pools valuable expertise, an international network, and seed capital from a group of experienced founders, operators and professional investors to help early Belgian startups reach the next level.

In addition, Syndicate One frequently launches targeted initiatives to strengthen Belgium’s tech ecosystem, such as the first standardised convertible note agreement fit for the Belgian market, and the ‘State of Belgian Tech Report’.

In its first four years, Syndicate One has invested in Aikido Security, Fundamental, Techwolf, Conveo, Sirona Technologies, Donna, Tekst, Cosmic Aerospace, Powernaut, SAPI, Mindoo and other promising startup companies.

Visuals and logos

To download the Syndicate One logos in different formats, follow this link to find the assets on a shared drive.

Media contacts

Available for interviews:

• Laurens De Poorter, Founder, laurens@syndicate.one
• Robin Wauters, Founding Member, robin@syndicate.one

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