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Investors / Belgium / Theodorus

Theodorus

Venture capital · Brussels, Belgium · Europe

theodorus.be

Theodorus is a Belgian venture capital firm that invests in early-stage projects based on proprietary disruptive technologies, mostly at seed and early stage. It has priority access to Université libre de Bruxelles research outcomes and spin-offs, but can also invest in projects outside ULB.

Invests inHealthcare & BiotechAI & Machine Learning

In its own wordsbiotechmedtechdigitalengineeringspin-offslife sciences

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20portfolio companies
0funding rounds on record
Seedstages it states
42M€latest fund2018

Theodorus lists 20 checked portfolio companies on its own site. Its largest themes are Healthcare & Biotech (50%), AI & Machine Learning (23%) and Real Estate & Construction (9%). 70% of its companies are based in Belgium. It invests most often alongside Seeder Fund, Finindus and Inventures.

No funding round on record names Theodorus yet, so the figures come from its portfolio page.

Round figures show recent activity, not Theodorus' whole history. Rounds on record name 0 companies; its own site lists 20. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.

Investment themes

share of its checked companies

This firmAll checked companies

Show as a table
Investment themes
This firmAll checked companies
Healthcare & Biotech50%15%
AI & Machine Learning23%18%
Real Estate & Construction9%3%
Space & Defense5%3%
Education5%7%
Industrial & Manufacturing5%7%
Enterprise Software5%8%

Its portfolio companies

where they are based, and what their own sites show

Headquarters

Site status

  • Site answers1890%
  • No longer answers00%
  • Points to another company210%
  • Parked or sold domain00%

A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.

Investor profile

percentile among all firms
Portfolio size: 20 companiesRecent activity: 0 rounds in 12 monthsEarly stage: 0% of entries at pre-seed or seedEvidence: 0% of companies confirmed by a roundSector focus: 50% in its largest sectorReach: 3 countriesPortfolio size51th pctRecent activity46th pctEarly stage54th pctEvidence52th pctSector focus85th pctReach58th pct
This firmMedian of all firms
Show as a table
Theodorus compared with all firms
MeasurePercentile of all firmsValue
Portfolio size51th20 companies
Recent activity46th0 rounds in 12 months
Early stage54th0% of entries at pre-seed or seed
Evidence52th0% of companies confirmed by a round
Sector focus85th50% in its largest sector
Reach58th3 countries

Co-investor network

who it backs companies with, and who they back together
9 shared companies7 shared companies2 shared companies2 shared companiesSeeder Fund: 2 shared companiesSeeder Fund2Finindus: 1 shared companiesFinindus1Inventures: 1 shared companiesInventures1Noshaq: 1 shared companiesNoshaq1Qbic: 1 shared companiesQbic1White Fund: 1 shared companiesWhite Fund1
Shared portfolio companies with TheodorusFirms that also back companies together

All co-investors or Compare portfolios with Seeder Fund

Compare Theodorus head to head

portfolio size, rounds, entry stages, themes and the companies both back

Three or more firms at once: portfolio overlap.

Funds

as stated on its site
Theodorus IV2018 · "42M€" on its site
Theodorus III2012 · "20.25 M€" on its site
Theodorus II2006 · "5.4 M€" on its site

Portfolio

20 companies checked against their own sites
CompanyWhat it doesThemesFirst round with itEvidence
A-ULaba-ulab.com · BelgiumA-ULab identifies asbestos fibers in materials and measures their concentration in the air
Healthcare & Biotech
Portfolio page
Acarupacarup.com · BelgiumAcar'up Consumer Health produces a medical device called ExAller
Healthcare & Biotech
Portfolio page
AMIA Systemsamia-systems.comAMIA Systems is an Operational Excellence company developing its own software, SIMOGGA, to visualize, quantify and optimize the operations of Production plants, Maintenance sites, Distribution centers or Warehouses.
Industrial & ManufacturingEnterprise Software
Portfolio page
Calyoscalyos-tm.comCalyos helps engineers design high-performance, passive two-phase cooling systems.
AI & Machine LearningAI & Machine Learning
Portfolio page
Cluepointscluepoints.com · United StatesCluepoints provides risk-based quality management software solutions for clinical trials
Healthcare & Biotech
Portfolio page
Delphi Geneticsdelphigenetics.com
Portfolio page
EHPehp.be · BelgiumEHP provides innovative thermal management solutions for the space industry worldwide
AI & Machine LearningAI & Machine Learning
Portfolio page
Endo Tools Therapeuticsendotools.be · BelgiumEndo Tools Therapeutics develops innovative devices for therapeutic interventions for gastric conditions, including obesity.
Healthcare & Biotech
Portfolio page
Bioparki-tech-incubator.be · BelgiumThe company provides accommodation and support to develop business projects.
EducationReal Estate & Construction
Portfolio page
Icentiaicentia.com · CanadaIcentia is a medical devices manufacturer and a service company that provides medical testing innovations for healthcare institutions.
Healthcare & Biotech
Portfolio page
InhaTargetinhatarget.com · BelgiumInhaTarget Therapeutics develops innovative and targeted formulations for inhalation to improve the treatment of severe respiratory diseases.
Healthcare & Biotech
Portfolio page
Kabandykabandy.comKabandy develops and provides building quantity management software that turns BIM models into a practical tool for estimating, tracking, and managing materials and quantities efficiently.
Real Estate & ConstructionAI & Machine Learning
Portfolio page
Kaspardkaspard.comKaspard develops a solution for detecting, understanding and preventing falls, particularly for the elderly in care homes and hospitals.
Healthcare & Biotech
Portfolio page
Lambda-Xlambda-x.com · BelgiumThe company designs and develops optical instruments, onboard optics, and payloads for various industries, including space, defense, and life sciences.
Space & DefenseHealthcare & Biotech
Portfolio page
MaSTherCellmasthercell.com
Portfolio page
Moonshot Healthmoonshothealth.comThe company develops a platform that notices everyday rhythms in a home and alerts others if something is off, such as a fall.
Healthcare & Biotech
Portfolio page
Novasepnovasep.comNovasep manufactures APIs and provides pharmaceutical CDMO services
Healthcare & Biotech
Portfolio page
PharmaFluidicspharmafluidics.com · United States
Healthcare & Biotech
Portfolio page
SEEDER FUNDseederfund.be
Portfolio page
Virteovirteo.com
Portfolio page

About this data

site last read 5 Nov 2026
The homepage of Theodorus, as last read
theodorus.be as VCinfo last read it
Site
theodorus.be
Last read
5 Nov 2026
Watching since
6 Nov 2026
Companies checked
20

Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.

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