Syndicate One Closes Oversubscribed €22 Million Fund in Just Eight Weeks, Signaling Explosive Growth for Belgian Tech Ecosystem

In a stunning display of investor confidence and ecosystem momentum, Syndicate One has closed its second fund at €22 million—oversubscribed within a mere eight weeks of its initial pitch. This achievement underscores the explosive growth trajectory of Belgium’s technology landscape and positions Syndicate One as a pivotal force in nurturing the next generation of European tech champions.

The Brussels-based investment firm, which operates as a network-driven platform backing Belgian founders globally, has rapidly evolved from its 2022 inception into one of Europe’s most dynamic early-stage investment vehicles. The €22 million close follows the firm’s successful €6.5 million debut fund raised in late 2024, which itself represented a significant milestone for Belgian venture capital.

What makes this fundraise particularly noteworthy is the caliber and diversity of Syndicate One’s investor base. The firm has assembled what can only be described as a who’s who of Belgian tech success stories, with over 120 entrepreneurs and multiple entrepreneurial families committing capital alongside institutional backers. This represents a powerful virtuous cycle where today’s successful founders become tomorrow’s investors, creating a self-reinforcing ecosystem of expertise and capital.

The Power Players Behind the Movement

Leading the charge is Laurens De Poorter, Syndicate One’s visionary founder, alongside founding members Arnaud Bakker and Robin Wauters. This trio has cultivated an investment approach that goes far beyond traditional capital deployment. Their model leverages an extensive network of founders, operators, and investors who provide portfolio companies with not just funding, but strategic guidance, operational expertise, and access to critical business development opportunities.

The institutional backing is equally impressive, with Syndicate One becoming the first Belgian investment firm to secure support from all four major governmental funds: PMV (Flanders), SFPIM (federal), Finance&Invest Brussels, and Wallonie Entreprendre. These foundational investors have been joined by Sofina, which has recommitted alongside new institutional backers Finhouse and COI, demonstrating sustained confidence in Syndicate One’s approach and the broader Belgian tech ecosystem.

A Portfolio That Speaks Volumes

Syndicate One’s investment thesis has already yielded remarkable results. The firm’s early portfolio includes companies like Aikido Security, Techwolf, Conveo, Sirona Technologies, Donna, Warren, SAPI, Ravical, Cosmic Aerospace, Powernaut, Tekst, and Mindoo—a diverse mix of deep tech, enterprise software, and frontier technology companies.

Perhaps most impressively, two of Syndicate One’s earliest investments have achieved unicorn status. Fundamental and Aikido Security have both reached private valuations exceeding $1 billion, validating the firm’s ability to identify and nurture breakout companies from the earliest stages. These successes have created a powerful narrative that attracts both entrepreneurs and investors to the Syndicate One platform.

Beyond Capital: Building an Ecosystem Powerhouse

What truly distinguishes Syndicate One is its commitment to ecosystem development beyond mere investment. The firm provides portfolio companies with access to a network of experienced entrepreneurs and operators who have scaled companies like Collibra, Deliverect, Accountable, DataCamp, Showpad, THEO Technologies, N26, EyeSee, Oper, and Bnewable. This community offers expertise across critical domains including investment strategy, operations, go-to-market execution, sales, platform development, marketing, and communications.

The firm’s ecosystem initiatives include the publication of the State of Belgian Tech Report in partnership with Sofina, SFPIM, and Bain & Co, providing invaluable market intelligence and benchmarking data. They’ve also released an updated version of the Syndicate One Convertible, a standardized convertible loan agreement that streamlines early-stage financing and reduces friction in deal execution. Additionally, their video podcast series showcases Belgian technology talent, creating visibility and inspiration for the next generation of founders.

The Belgian Tech Renaissance

Syndicate One’s success reflects a broader renaissance in Belgian technology entrepreneurship. The country, traditionally known for its strong industrial and logistics sectors, is rapidly emerging as a hub for deep tech innovation, enterprise software, and frontier technologies. The firm’s ability to attract investment from over 120 entrepreneurs and multiple entrepreneurial families speaks to the growing maturity and interconnectedness of the local ecosystem.

This fundraise represents more than just capital deployment—it’s a vote of confidence in Belgian founders’ ability to build globally competitive companies from day one. As Laurens De Poorter noted, the network has evolved from a “tight-knit group of ambitious founders and operators” into a “powerful flywheel” where success compounds upon itself, creating increasingly attractive conditions for entrepreneurship and investment.

Looking Forward: Doubling Down on Global Ambition

With €22 million in fresh capital, Syndicate One is positioned to accelerate its mission of backing exceptional Belgian entrepreneurs wherever they are in the world. The fund will be deployed through the firm’s signature network-driven approach, combining capital with the operational expertise, strategic guidance, and business development opportunities that have become hallmarks of the Syndicate One model.

The oversubscribed fundraise within eight weeks demonstrates not just strong investor demand, but the maturing sophistication of the Belgian tech ecosystem. It signals that Belgian founders are increasingly recognized as capable of building companies that can compete on the global stage, backed by a growing infrastructure of capital, expertise, and support services.

As Syndicate One enters this next phase of growth, the firm stands at the intersection of capital, community, and ecosystem development—a unique position that could prove instrumental in accelerating Belgium’s emergence as a significant player in the global technology landscape. The €22 million fund represents not just an investment in individual companies, but in the continued maturation and global ambition of Belgian technology entrepreneurship.

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