WING by Digital Wallonia

What WING by Digital Wallonia does

WING by Digital Wallonia operates WE Venture Capital, the venture capital investment arm of Wallonie Entreprendre, a regional public financing entity in Wallonia, Belgium. Founded in 2016 and headquartered in Liège, the fund invests patient capital in digital and deeptech startups at the seed (StartUp Boost, up to €100,000), early, and growth stages, with a mandate to support responsible innovation and qualified job creation anchored in the Wallonia region.

WE Venture Capital's product stack comprises three integrated components: the core WE Venture Capital fund (seed-to-growth equity), the StartUp.Wallonia platform (centralized hub providing startups access to funding opportunities, resources, and ecosystem connections), and StartUp Boost (an early-stage add-on module offering up to €100,000 in pre-seed/seed financing). Beyond capital, the fund provides hands-on strategic accompaniment including prototyping, industrialization, go-to-market, and governance advisory, activated through a network of universities, research centers, industrial clusters, and specialized co-investors.

The business model is that of a public-sector venture capital fund: capital appreciation and exit proceeds (IPO, M&A, distributions) generated from equity stakes in portfolio companies, supplemented by management-style returns from co-investment and fund-of-funds structures designed to stimulate private capital and amplify the leverage effect of public funding. Notable portfolio holdings include Chift (Belgian fintech, expanded to Spain), Vertuoza (construction tech), E-peas (energy harvesting, €17.5M raised), LiveDrop (biotech, Liège), and Offr (HR tech, integrated with Monizze).

Name

WING by Digital Wallonia

Legal name

Wallonie Entreprendre

Website

https://wing-digitalwallonia.be

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

WE Venture Capital is the digital and deeptech venture capital arm of Wallonie Entreprendre, investing patient capital in Walloon startups from seed to growth while providing strategic accompaniment and ecosystem access.

Ownership category

akta.pro rank

Headquarters

HQ city

Liège

HQ country

Belgium

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Venture Capital Investment Returns: WE Venture Capital generates returns through equity investments in digital and deeptech startups in Wallonia, from early stage (seed/StartUp Boost) to growth stage. Returns come from capital appreciation, exit events (IPO, M&A), and distributions to investors.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

WE Venture Capital is a government-backed venture capital fund under Wallonie Entreprendre that invests patient equity capital in digital and deeptech startups in Wallonia, Belgium, from seed/early stage through growth. Beyond capital, it provides hands-on strategic accompaniment covering prototyping, industrialization, go-to-market, and governance, and activates an ecosystem of universities, research centers, industrial clusters, and specialized co-investors. Complementary offerings include the StartUp.Wallonia startup platform and the StartUp Boost program offering up to €100,000 in early-stage financing.

Product overview

WE Venture Capital is the core venture capital investment arm of Wallonia Entreprendre, focusing on digital and deeptech startups in Wallonia. The offering combines a unified investment fund (WE Venture Capital) that supports projects from seed through growth stages, complemented by the StartUp.Wallonia platform which provides a centralized hub for startup resources and connections. StartUp Boost functions as an add-on funding module within this ecosystem, offering up to €100,000 in early-stage financing. Together, these products form an integrated startup support ecosystem combining patient capital, strategic accompaniment, and ecosystem activation.

Differentiator

Problem solved

Functional benefit

Products and services

• WE Venture Capital (Digital Deeptech) Venture capital fund under Wallonie Entreprendre that invests in high-potential digital and deeptech startups in Wallonia, Belgium, from seed/early stage through growth stage. Provides patient equity capital combined with strategic founder support (prototyping, industrialization, go-to-market, governance) and ecosystem access through partners including universities, research centers, clusters, industrial partners, and specialized co-investors.
• StartUp.Wallonia Unified platform for Walloon startups providing centralized access to funding opportunities, resources, and ecosystem connections. Acts as a hub connecting Walloon startup founders with WE Venture Capital's investment programs and broader ecosystem partners.
• StartUp Boost Early-stage funding program offering up to €100,000 in financing to Walloon startups at seed/early stage. Operates as a financing module within the StartUp.Wallonia platform ecosystem, supporting very early-stage digital and deeptech companies before they reach WE Venture Capital's growth-stage investments.

Quantifiable outcome

• Portfolio companies Chift and Vertuoza ranked in Sifted 250 2025 - top European growth
• +1 more outcomes

Named customers5 records

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

Three partnerships are on record, tiered core and minor.

• Universities and Research CenterscoreStrategic or Co-development PartnerWE Venture Capital leverages partnerships with universities and research centers as part of its ecosystem approach to identify and support digital and deeptech innovations.
• Industrial Partners and ClusterscoreStrategic or Co-development PartnerWE Venture Capital activates its network of industrial partners and clusters to create sustainable synergies for portfolio companies, supporting prototyping, industrialization, and go-to-market efforts.
• European Innovation NetworksminorStrategic or Co-development PartnerWE Venture Capital is positioned at the crossroads of European innovation networks, facilitating international market access for portfolio companies.

Scale indicators4 records

Expansion highlights6 records

Broad incumbents

• Bpifrance: French national investment bank providing VC, growth, and innovation financing across all stages. Comparable as a state-backed investor in deeptech/digital with co-investment infrastructure, but operating at much larger national scale than WE.
• Sofina: Belgian-listed investment company providing growth capital to digital and consumer-tech businesses across Europe. Comparable as a Belgian-headquartered investor in tech growth stages, though privately funded rather than government-backed.
• EIC Fund (European Innovation Council): EU-level public investment vehicle backing deeptech and breakthrough innovation across member states. Comparable as a public deeptech investor that WE co-invests alongside at the European level.
• SFPI (Société Fédérale de Participations et d'Investissement): Belgian federal holding company managing state equity stakes and strategic investments. Comparable as a Belgian government-backed capital provider with involvement in large national tech initiatives relevant to WE's broader funding ecosystem.

Regional players

• S.R.I.W. (Société Régionale d'Investissement de Wallonie): Walloon regional investment company providing equity and loans to Wallonia-based companies. Comparable as a Walloon government-backed investor with overlapping regional mandate and some deeptech/SME exposure.
• PMV (ParticipatieMaatschappij Vlaanderen): Flemish regional investment fund backing startups and growth companies in Flanders, Belgium. Comparable to WE as a sub-national Belgian government-backed investor with co-investment and fund-of-funds activities, though focused on the Flemish region.

Direct peers

• Noshaq: Liège/Wallonia-based venture and growth fund investing across all stages. Direct regional competitor sharing the same geographic ecosystem and many overlapping portfolio themes (tech, cleantech, biotech), making it the closest peer.
• Capricorn Partners: Belgian venture and growth capital firm managing multiple technology and sustainable innovation funds. Closely comparable to WE on Belgian tech venture investing, though with broader pan-European scope and mixed public/private capital.
• imec.xpand: Belgium-based deeptech/semiconductor venture fund affiliated with imec research hub. Highly comparable as a Belgium-anchored deeptech specialist with strong ties to research centers, sharing overlap with WE's deeptech thesis.
• HTGF (High-Tech Gründerfonds): German public-private seed/early-stage VC focused on deeptech and high-tech startups. Comparable as a publicly-backed early-stage deeptech specialist with co-investment syndication, though at much larger AUM and broader geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/WEntreprendre_
• YouTubeyoutube.com/@WallonieEntreprendre
• Facebookfacebook.com/profile.php?id=100089126240723
• LinkedInlinkedin.com/company/wallonieentreprendre

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments36 records

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

Frequently asked questions about WING by Digital Wallonia