What we do

We lead companies into their next chapter

  • Engaging capital and structuring investment rounds, we take the lead.

  • Carefully selecting advisors from a European network of over 500 investors, venture partners, and C-level executives.

  • Providing operational support in business development, team building, and fundraising preparation.

Scaling a startup is brutal, foundations matter. We bring the leadership, structure, and strategy to turn ambition into lasting growth.

Investment approach

We invest from seed to Series A in companies driving digital transformation, deeptech, and cleantech — when the product is live, traction is building, and the ambition to scale is undeniable. We typically lead rounds with tickets ranging from €100K to €1M.

We look for:

  • Committed, complementary teams
  • Early signs of revenue or usage growth
  • A clear plan toward Series A
  • Scalable, international-ready models
  • Openness to strategic, hands-on support

We back a few companies with full focus. We structure rounds, support operations, and stay involved for the long run.

Portfolio

  • Anote Music

    Fund: ScaleFund III Category: FinTech
    Democratizing music investment. Leading platform to buy, sell and earn music royalties.
  • Duely

    Fund: ScaleFund III Category: LegalTech
    Delivering AI-native legal services for M&A.
  • Optisuite

    Fund: ScaleFund III Category: RetailTech
    Turning optical consults into predictable revenue.
  • Feedelity

    Fund: ScaleFund III Category: RetailTech
    Elevating guest feedback management for hospitality brands.
  • Visuary

    Fund: ScaleFund III Category: PropTech
    Automating renovation process workflows for the construction sector.
  • XFA

    Fund: ScaleFund III Category: Cybersecurity
    Securing BYOD, managed and external devices with a lightweight security layer.
  • Wodan AI

    Fund: ScaleFund III Category: Cybersecurity
    Enabling AI models to run on encrypted data without decryption or exposure
  • Wooclap

    Fund: ScaleFund I Category: Edtech
    Interactive learning platform enhancing engagement in classrooms and corporate training.
  • Passbolt

    Fund: ScaleFund II Category: Cybersecurity
    Open-source password management solution for teams and enterprises
  • Resortecs

    Fund: ScaleFund II Category: CleanTech
    Innovative textile recycling technology enabling easier and more efficient garment recycling
  • Ionnyk

    Fund: ScaleFund II Category: ArtTech
    Connected art frames that display high-end black-and-white photography using e-paper technology
  • JeudiMerci

    Fund: ScaleFund II Category: MarTech
    B2B gifting platform offering curated, personalized gifts for corporate clients
  • Dgenious

    Fund: ScaleFund II Category: RetailTech
    Business intelligence platform enabling real-time data access and analysis for multi-site businesses
  • Naki

    Fund: ScaleFund II Category: Sharing economy
    Portable battery rental service with automated kiosks for mobile device charging
  • Moonbird

    Fund: ScaleFund II Category: HealthTech
    Breathing guidance device designed to help individuals relax and manage stress through controlled breathing exercises

Team

  • Claire Munck

    Founder & Managing Partner ScaleFund I, II & III

    Claire Munck serves as CEO of BeAngels, Belgium’s leading angel investment network, and is the founder of the ScaleFund series. She co-founded Business Angels Europe and the Global Business Angel Network, and sits on the board of several startups and scale-ups across sectors. Her experience spans strategic growth, international financing, and early-stage venture capital.

    LinkedIn Profile
  • Gauthier van der Elst

    Partner ScaleFund I, II & III

    Gauthier is a seasoned professional with a strong background in venture capital, M&A, and financial management. He brings experience from banking, auditing (PwC), and corporate integration (Solvay-Rhodia), and currently serves on multiple startup boards, contributing his strategic and financial expertise.

    LinkedIn Profile
  • Thomas Pav

    Principal ScaleFund III

    Thomas is a dynamic business angel with investments and operational roles across Europe and Africa. Former COO at Solarly, he has advised dozens of startups on scaling and fundraising. His expertise spans blockchain, asset management, and digital transformation.

    LinkedIn Profile
  • Paul Risopoulos

    Principal ScaleFund III

    Paul Risopoulos brings a strong background in private equity and strategic consulting. Previously with Vendis Capital and Roland Berger, he focuses on growth-stage investments and SME development, combining analytical rigour with hands-on business insight.

    LinkedIn Profile

Network

Venture Partners

  • François Torche

    Cofounder CluePoints – CPO & CTO

    François Torche is the co-founder of CluePoints and served as CEO from 2012 until December 2022 before moving into the Chief Product & Technology Officer role; he now acts as Strategic Advisor. He previously held technical and data roles at GlaxoSmithKline, UCB, and IDDI, and helped guide the company through its 2024 majority acquisition by EQT. His focus spans digital transformation, data analytics, and product strategy in life sciences.

    LinkedIn Profile
  • Wim Peeters

    EcoVadis – Senior Advisor / VP Business Development

    Wim Peters brings deep expertise in sustainable finance and IT. As VP of Business Development at EcoVadis, he advanced initiatives in Private Equity and Sustainability Linked Loans. He also played a key role in growing CyberVadis' cybersecurity solutions. As an investor and advisor at Greenomy, he supported strategic developments and helped secure investment from Euroclear. His career reflects a strong commitment to integrating sustainability into finance and technology.

    LinkedIn Profile
  • Thierry Pineau

    CEO at DFMH – Manufacturing & Supply Chain

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  • Nicolas Lair

    Co-founder & CTO at Wellnest – Serial Entrepreneurship

    Nicolas Lair is the Co-Founder and CTO of Svaito and Wellnest, blending technology and creativity to drive innovation. Based in Portugal, he leads projects in tech and music. At Above The Clouds, he collaborates with top creative agencies on interactive experiences. Previously, he developed Flash and HTML5 solutions at Captiv8 and Nine for clients like Toyota and the Australian Government. His career spans freelance work to entrepreneurship at the intersection of design and technology.

    LinkedIn Profile
  • Xavier Pansaers

    Co-founder at GOVRN – Growth & B2B SaaS

    Xavier Pansaers is an accomplished executive with 20+ years in governance, strategy, and growth. He co-founded Govrn, serves as VP at Easyvest, and holds leadership roles at Waylay and Restomax. Formerly CRO and Group COO at Odoo and CRO at Proxyclick, he led global expansion efforts. His board roles at MobileXpense, Social-Karma, and Skwarel underscore his expertise in scaling businesses and driving operational excellence.

    LinkedIn Profile
  • Gerrit Dubois

    Responsible Investment Specialist at Degroof Petercam Asset Management – Cleantech & Responsible Investment

    Gerrit Dubois is committed to advancing sustainability through responsible investment. At DPAM, he focuses on integrating ESG principles and climate risk into investment strategies. Previously, he worked at ERM on environmental due diligence, EHS audits, and sustainability reporting. He also gained experience in chemicals management and environmental risk at Mondelēz International and UZ Brussel. Gerrit’s career reflects a strong dedication to sustainable finance and tackling climate change challenges.

    LinkedIn Profile
  • Frédéric Levy

    CEO at Look & Fin – FinTech

    Frédéric Levy-Morelle is CEO of Look&Fin, a leading European crowdlending platform that has funded €120 million to 400 SMEs, focusing on real estate and delivering a 5.5% average annual return. He previously managed €60 million in venture capital at EEBIC Ventures. With experience in corporate finance, M&A, and fundraising, Frédéric also taught Entrepreneurial Finance at Solvay Business School, demonstrating his expertise in SME finance and investment.

    LinkedIn Profile
  • Leen Segers

    Managing Director ForsVC – AI, DeepTech, Web3

    Leen Segers is Managing Director at ForsVC and a tech entrepreneur and advocate for immersive technologies and diversity. She co-founded and led LucidWeb, establishing it as a key player in virtual and augmented reality. Previously, she was COO of Tech.eu and held strategic roles at Netlog and Accenture. Leen also co-founded Women in Immersive Technologies Europe, supporting inclusion in the industry. Her career bridges deep tech, media, and venture capital across the European tech ecosystem.

    LinkedIn Profile
  • Olivier Verdin

    CEO & Co-founder at AppTweak – SaaS & Mobile

    Olivier Verdin is a seasoned entrepreneur and strategic leader in tech and innovation. He is the CEO & Co-Founder of AppTweak and also co-founded Wooclap. His first company, 87seconds, was acquired by Datawords in 2018. As a Strategic Board Member at BeAngels and Professor of Entrepreneurship at Solvay Brussels School, Olivier shares his expertise in startup growth, value proposition design, and pitch techniques to support emerging founders and the next generation of innovators.

    LinkedIn Profile
  • Olivier Gillin

    Chief Product Officer at Haulogy – B2B SaaS & Digital Products

    Olivier Gillin is a seasoned product leader with deep expertise in SaaS and digital innovation. Currently Chief Product Officer at Haulogy and a mentor at imec.istart and Rockstart, he advises startups on product strategy. He previously led product teams at BePark, LetsBuild, and Take Eat Easy. His career also includes roles at Yahoo and Ingenico, and he continues to support scale-ups as a freelance product strategist and coach.

    LinkedIn Profile

Testimonials

  • The support of Scale II has been instrumental in our growth trajectory. On top of the financial support, Scale really managed to create value on important and strategic aspects of the business when it was needed, a rare quality among investors.

    Kevin Muller - Founder & CEO
  • Working together with Scale is wonderful. We get great support (but not too much), access to workshops, relevant contacts and the most valuable, productive, insightful board meetings.

    Stefanie Broes - Co-Founder
  • Working with ScaleFund has been instrumental for us in many ways! They were the 1st to support us very early on and pushed our fundraising round forward. We had the same commitment post-investment too: they continuously make high-value intros and keep connecting the dots with us.

    Bob Dubois - Co-founder & CEO