Belgium’s NewSchool VC Closes €10 Million Fund for Europe’s Next B2B Startups

Belgian venture capital firm NewSchool VC has closed its first fund at €10 million, creating a new source of early-stage capital for B2B technology startups across Europe.

The Brussels-based firm announced that its maiden fund has reached its €10 million target after attracting around 50 investors, including family offices and entrepreneurs from the Belgian business community.

NewSchool VC focuses on pre-seed technology companies, meaning startups that are still at a relatively early point in their development.

The firm is particularly interested in B2B businesses, where software or technology products are sold to other companies rather than directly to consumers.

Why early-stage capital matters

For a technology startup, raising the first significant investment can be one of the most difficult stages of building a company.

Founders may have a prototype or early customers but lack the revenue required to finance product development themselves.

Traditional banks are often reluctant to lend to businesses without established cash flow.

Venture capital can fill that gap by investing in companies where the potential future growth is considered more important than current profitability.

NewSchool VC is targeting this early stage.

The fund will provide capital to founders while also offering support in areas such as marketing, sales, human resources and finance.

Built around entrepreneurs

NewSchool’s fund has an unusually strong connection to Belgium’s existing technology and business community.

Around 50 investors have backed the fund, including six family offices and several entrepreneurs.

Among them are Willem Delbaere and Roeland Delrue of Aikido Security, Jean-Louis Van Houwe of Monizze and Luc Coopman of Cobofisk.

The firm’s founder, Christophe Morbee, has also contributed 25% of the fund himself.

Morbee previously spent years investing as an angel before deciding to create a dedicated venture capital structure.

That experience forms an important part of NewSchool’s investment model.

The firm is not only looking to provide money.

It wants experienced operators and investors around the table who can help founders deal with the practical problems involved in turning an early-stage company into a scalable business.

A growing European B2B ecosystem

Europe has developed a strong B2B technology sector.

Companies across the continent are building software for accounting, logistics, manufacturing, healthcare, finance, cybersecurity, human resources and countless other industries.

Many of these businesses do not become consumer household names, but some can grow into significant international companies.

B2B startups can also benefit from the fragmented nature of the European market.

A company that solves a specific problem for businesses in one country can potentially expand into neighbouring markets if its software can be adapted to different regulations and business practices.

However, that expansion requires capital.

Why Belgium?

Belgium has a relatively small domestic market compared with major European economies such as Germany, France or the UK.

That can encourage Belgian startups to think internationally from an early stage.

NewSchool VC’s fund is designed around that reality.

The firm wants to support founders building companies capable of expanding beyond Belgium into the wider European market.

Its investors also provide connections that can potentially help young businesses find customers, partners and future investors.

Europe’s funding environment

NewSchool’s fund comes at an interesting moment for European venture capital.

European startup funding has been recovering from the difficult investment environment that followed the 2021–2022 boom.

However, capital is not distributed evenly.

Large, established companies can attract enormous funding rounds, while very early-stage founders can still struggle to find investors willing to take significant risks.

Funds dedicated specifically to pre-seed companies therefore play an important role.

NewSchool’s €10 million may be small compared with the multibillion-euro funds operated by major international venture capital firms, but early-stage funds can have an outsized influence on the companies they support.

A relatively modest first cheque can help a startup hire its first employees, build a product, secure initial customers or reach the milestones required for a larger funding round.

The next generation of European startups

NewSchool VC has already begun investing through the fund, and the firm plans to continue building a portfolio of early-stage B2B technology companies.

The long-term outcome will depend on how those startups perform.

Venture capital is inherently risky, and many early-stage companies will not become major businesses.

But the creation of another dedicated source of early-stage funding gives European founders another route to finance their ambitions.

For Belgium’s technology ecosystem, it also represents a growing connection between experienced entrepreneurs, investors and the next generation of founders.

As European startups continue to build products for businesses around the world, funds such as NewSchool VC are positioning themselves to provide the capital and practical support needed at the very beginning of that journey.