Belgian VC Firm Pitchdrive Secures third Fund of €40 million for Funding Early-stage Startups

Pitchdrive, a European early-stage enterprise capital agency, has introduced the profitable increase of its third fund, amounting to €40 million, which might be devoted to investing in promising startups throughout the continent. The fund’s closing has been met with overwhelming curiosity from restricted companions (LPs), leading to an oversubscription that exceeded the preliminary goal by 30%, with commitments coming solely from entrepreneurs and household places of work.

The outstanding success of Pitchdrive’s Fund I and Fund II, the latter co-managed with the later-stage VC agency Smartfin, has translated into excessive curiosity of their third fund. Inside simply two months, the fund turned oversubscribed, prompting the agency to extend the preliminary goal from €30 million to €34 million for the primary closing. In the end, the fund might be hard-capped at €40 million because of the substantial demand.

Pitchdrive was based in 2020 by a syndicate of well-known Belgian angels, together with Jonas Dhaenens (Crew.Blue), Boris Bogaert, Wim Derkinderen, Koen Christiaens (Xpenditure/Rydoo), Lorenz Bogaert, Toon Coppens (Netlog/Twoo & StarApps), and Luc Verelst (DROIA make investments). The Belgian investor goals to professionalize investing with entrepreneur-driven experience and startup assist.

Recognizing the worth of well-experienced entrepreneurs and the challenges of scalability and follow-on funding, the founders constructed Pitchdrive right into a European family identify inside the pre-seed investing house. The agency believes that startups have a lot larger success charges after they increase early investments from skilled entrepreneurs and transition to conventional operator-led enterprise capital companies in later rounds.

The corporate leverages its entrepreneurial experience to offer pre-seed investments, extremely personalised steerage, assist, and community entry to its portfolio firms. The fund’s dimension permits for participation in subsequent funding rounds, giving the startups a direct benefit. This strategy has confirmed profitable, with roughly 70% of Pitchdrive’s 50+ investments having already raised new rounds inside two years, and first exits are in progress.

Boris Bogaert, Managing Companion of Pitchdrive, acknowledged: “The €40 million funding fund will assist 30 European startups over the subsequent two years. Alongside the fund, Pitchdrive has established a brand new mentor community of 10 profitable European entrepreneurs. This powerhouse community will present personalised steerage and various experience to propel Pitchdrive’s rising portfolio.”

Pitchdrive’s funding portfolio contains notable startups comparable to Henchman, NineID, Otiv, Bizzy, Fixform, Introw, Oper Credit, Smooved, Brauzz, and Choosy from Belgium, in addition to Lodge Supervisor, Happl, Privasee, and Greenspark from the UK, Luna from the Netherlands, FoodAmigos and Keaz from Germany, and Salus Psychological from Turkey, amongst others.