‘Pitchdrive, a Belgian VC Firm, Raises €40 Million for Investing in Early-stage Startups’

Pitchdrive, a prominent European early-stage venture capital firm, has recently closed its third fund, securing an impressive €40 million for investment in promising startups across the continent. The fund saw a surge in interest from limited partners (LPs), resulting in oversubscription that surpassed the initial target by 30%, with commitments exclusively from entrepreneurs and family offices.

Building on the success of its previous funds, Pitchdrive has garnered significant attention for its latest fund, with the first closing already exceeding expectations, prompting an increase in the initial target from €30 million to €34 million within just two months. Ultimately, the fund will be capped at €40 million given the strong demand from investors.

Founded in 2020 by a group of renowned Belgian angels, including Jonas Dhaenens, Boris Bogaert, Wim Derkinderen, and others, Pitchdrive aims to revolutionize early-stage investing by providing expert support and guidance to startups. The firm believes in the importance of leveraging the experience of seasoned entrepreneurs to enhance the success rates of startups in their portfolio.

Pitchdrive’s approach involves not just providing funding but also offering personalized mentorship, support, and access to a broad network of contacts. This hands-on approach has proven successful, with over 70% of the firm’s 50+ investments securing new funding within two years, and first exits already in progress.

Managing Partner Boris Bogaert highlighted the fund’s goal of supporting 30 European startups over the next two years, alongside the establishment of a mentor network comprising ten successful European entrepreneurs. This network will offer tailored guidance and expertise to drive the growth of Pitchdrive’s expanding portfolio.

Among Pitchdrive’s investment portfolio are notable startups such as Henchman, NineID, and Otiv from Belgium, as well as Hotel Manager and Happl from the UK, Luna from the Netherlands, FoodAmigos and Keaz from Germany, and Salus Mental from Turkey, among others. The firm’s focus on early-stage support and follow-on funding sets it apart in the venture capital landscape, positioning it as a key player in driving the success of European startups.