LeanSquare

What LeanSquare does

LeanSquare is a Belgian specialized investment fund and part of the Noshaq Group, Belgium's regional development agency based in Liège. Founded in 2014, the fund focuses exclusively on the Entertainment Tech sector, deploying Seed and Series A capital into five vertical specializations: MusicTech, SportsTech, e-Sport, Gaming, and MICE Tech. Its stated strategy is to ensure that each new investment reinforces previous portfolio holdings, building a compounding ecosystem across entertainment verticals.

LeanSquare operates a platform-plus-programs model. Core offerings include Seed/Series A investment services with co-investment options for larger rounds, the Wallifornia MusicTech hub (operating three pillars: INVEST for VC connections, VENTURE for acceleration, and CONNECT for summits), and SportsTech Belgium — co-founded with EVS Broadcast Equipment and supported by the Royal Belgian Football Association and Agoria. The fund also offers a 'One Hour Challenge' strategic advisory service for early-stage startups. The portfolio spans 50+ companies including neuroClues, CityLegends, and Gamevestor, with disclosed investments ranging from €150,000 to participation in €10 million rounds.

The fund's economics derive from investment returns (capital gains on exits, carried interest) rather than product or service revenue. LeanSquare serves innovative startup founders in Entertainment Tech, particularly those with defined product/market fit transitioning from startup to scale-up. Distribution is direct: founders apply through the fund's investment process and are evaluated against criteria including innovation, societal impact, team experience, market opportunity, and ecosystem consistency. The fund claims global reach while maintaining its operational base at Rue Lambert Lombard, 3 in Liège, Belgium.

Name

LeanSquare

Legal name

LeanSquare

Website

https://leansquare.be

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

LeanSquare is a Belgian investment fund (part of Noshaq Group) that provides Seed and Series A capital to Entertainment Tech startups across MusicTech, SportsTech, e-Sport, Gaming, and MICE Tech verticals, operating from Liège with global deal-flow.

Ownership category

akta.pro rank

Product category

Venture Capital / Entertainment Tech Investment

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Venture capital fund
• Entertainment tech investment
• Seed stage funding
• Startup accelerator
• Music tech investment

Headquarters

HQ city

Liège

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Investment Returns: LeanSquare generates returns through equity investments in startups in the Entertainment Tech sector. They provide capital, knowledge, and network access to help mature start-ups reach scale-up stage.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

LeanSquare is a specialized Belgian investment fund providing Seed and Series A equity capital to mature startups operating in the Entertainment Tech sector (MusicTech, SportsTech, e-Sport, Gaming, MICE Tech). In addition to funding, the fund delivers strategic support, sector expertise, and access to its international network of specialized VCs, industrialists, and experts, complemented by co-investment programs and innovation hubs.

Product overview

LeanSquare is a Belgian investment fund that provides funding and support to innovative startups in the Entertainment Tech sector. The company operates a platform-plus-programs model consisting of core investment services (Seed/Serie A funding with co-investment options), innovation acceleration programs (Wallifornia MusicTech hub and SportsTech Belgium ecosystem), and advisory services (One Hour Challenge consulting). Rather than building a unified product, LeanSquare functions as a venture platform that connects entrepreneurs with capital, knowledge, and a network of specialized partners across MusicTech, SportsTech, e-Sport, Gaming, and MICE Tech verticals.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Services (Seed/Series A)
• Wallifornia MusicTech
• SportsTech Belgium
• One Hour Challenge

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered flagship and core.

• WalliforniaMusicTechflagshipStrategic or Co-development PartnerLeanSquare organizes WalliforniaMusicTech, a hub dedicated to EntertainmentTech based in Liège, Belgium. The program connects startups with their network of specialized VCs (INVEST), runs acceleration and sandbox programs (VENTURE), and organizes summits in Belgium and worldwide (CONNECT).
• SportsTech BelgiumflagshipStrategic or Co-development PartnerLeanSquare co-founded SportsTech Belgium, an ecosystem where sport meets technology, with EVS and supported by the Royal Belgian Football Association and Agoria. The program focuses on four themes: ACTIVITY (performance monitoring), FANS & CONTENT (fan management), MANAGEMENT (event organization), and SMART VENUES (infrastructure innovations).
• EVS Broadcast EquipmentcoreStrategic or Co-development PartnerEVS co-founded SportsTech Belgium with LeanSquare, supporting technological innovation in sports and fostering startup initiatives in this field.
• Noshaq GroupflagshipStrategic or Co-development PartnerLeanSquare is a fund within the Noshaq Group, Belgium's regional development agency, providing strategic backing and ecosystem support for the investment fund's operations.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• London Venture Partners (LVP): London-based early-stage venture firm specializing in interactive entertainment and gaming. Direct comparable to LeanSquare given its focus on gaming/entertainment tech sub-sectors, similar seed/Series A investment stage, and value-add through ecosystem networks.
• Bitkraft Ventures: Global gaming-focused venture fund investing across gaming, esports, and interactive entertainment. Direct peer to LeanSquare's Gaming and e-Sport sub-verticals with comparable early-stage specialization and global deal sourcing.
• Makers Fund: Global interactive entertainment venture fund investing in gaming, esports, and digital entertainment startups. Comparable to LeanSquare's gaming/esport thesis with similar seed/Series A entry and sector specialist positioning.
• Hiro Capital: UK-based venture capital fund investing in gaming, esports, and entertainment technology. Highly comparable to LeanSquare as a sector-focused European VC targeting early-stage entertainment tech investments.
• Speedinvest: Austrian early-stage venture fund with thematic sector specialization across consumer, fintech, and digital entertainment. Comparable stage, ticket size, and European geographic focus to LeanSquare.
• Ventech: Paris-based early-stage venture firm with a pan-European focus on digital and consumer tech. Comparable investment stage and European footprint to LeanSquare's seed/Series A Entertainment Tech thesis.
• Connect Ventures: London-based early-stage venture fund investing in consumer technology and digital media. Direct peer in stage, ticket size, and entertainment-adjacent consumer thesis to LeanSquare.
• Creandum: European early-stage venture firm with sector expertise in consumer, gaming, and digital entertainment. Comparable stage and European focus with similar specialization depth to LeanSquare.

Broad incumbents

• Noshaq (parent fund activities): Belgian regional development fund and parent of LeanSquare. Directly comparable as a Belgian VC, though much broader in sector scope and significantly larger in scale — LeanSquare operates as its Entertainment Tech vertical.

Regional players

• PMV (ParticipatieMaatschappij Vlaanderen): Flemish regional investment fund providing venture and growth capital across sectors. Comparable as a Belgian regional development investor, though broader mandate and primarily Flemish rather than Walloon focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/leansquarebe
• YouTubeyoutube.com/channel/UCS9ptNpxNNWabpBRfssuKGw
• Facebookfacebook.com/220329171492015
• LinkedInlinkedin.com/company/leansquare
• Instagraminstagram.com/leansquare

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments43 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LeanSquare