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The Venture Codex

ScaleFund

Allée de la recherche 12, Anderlecht, Brussels Hoofdstedelijk Gewest, 1070, Belgium

Overview

Venture capital firm supporting entrepreneurs for later funding rounds.

Founded

2017

Deals · 12mo

6

Links

WebsiteLinkedIn

Stage focus

Seed
Series A

Geographic focus

Belgium
France
Luxembourg
United States

Sector focus

Venture Capital

Investment portfolio

15rounds
NAMEDATESIZE
ANote Music
Sep 2026Led
$2 MOther Equity
Duely
Jun 2026Led
$1 MOther Equity
Ditar
May 2026Led
$2 MOther Equity
Feedelity
Jan 2026Participated
$0.59 MOther Equity
Wodan AI
Dec 2025Participated
$2 MSeed
XFA
Dec 2025Led
$2 MSeed
Passbolt
Jan 2025Participated
$8 MSeries A
Wegrow
Sep 2024Participated
$8 MSeries A
WeGrow
Sep 2024Participated
$8 MSeries A
WeGrow
Jul 2023Participated
$6 MOther Equity
IONNYK
Jun 2023Participated
$2 MOther Equity
moonbird
Nov 2021Participated
$2 MOther Equity
ANote Music
Sep 2026Led
$2 MOther Equity
Duely
Jun 2026Led
$1 MOther Equity
Ditar
May 2026Led
$2 MOther Equity
Feedelity
Jan 2026Participated
$0.59 MOther Equity
Wodan AI
Dec 2025Participated
$2 MSeed
XFA
Dec 2025Led
$2 MSeed
Passbolt
Jan 2025Participated
$8 MSeries A
Wegrow
Sep 2024Participated
$8 MSeries A
WeGrow
Sep 2024Participated
$8 MSeries A
WeGrow
Jul 2023Participated
$6 MOther Equity
IONNYK
Jun 2023Participated
$2 MOther Equity
moonbird
Nov 2021Participated
$2 MOther Equity
15
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Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

ScaleFund: 15 funding rounds are recorded in the selected participation categories.All available history.
ScaleFund: 15 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed21
Series A03
Other Equity36

Monthly Deal Activity

ScaleFund: 15 deals are recorded across 90 months.All available history.
ScaleFund: 15 deals are recorded across 90 months. All available history
MonthDeals
May '191
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '201
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '210
Jul '211
Aug '210
Sep '210
Oct '210
Nov '211
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '231
Jul '231
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '242
Oct '240
Nov '240
Dec '240
Jan '251
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '252
Jan '261
Feb '260
Mar '260
Apr '260
May '261
Jun '261
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

ScaleFund: Enterprise Software is the largest displayed sector by deal count (7 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

ScaleFund: Enterprise Software is the largest displayed sector by deal count (7 deals). All available history
SectorDeals
Enterprise Software7
Cybersecurity & Privacy3
Marketing & Advertising3
Professional Services3
Developer Tools3
Networks, Cloud & Communication2
Media & Entertainment2
Health & Life Sciences2
AI & Machine Learning2
Travel & Hospitality1
Education & Workforce1
Government & Defense1
AR/VR1
Data, Analytics & IT1
Crypto & Blockchain1
Fintech1
Social & Community Platforms1

Deal Size Distribution

ScaleFund: 15 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

ScaleFund: 15 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M11
$5M-$10M4
$10M-$25M0
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

ScaleFund: Europe has the largest recorded deal count among the displayed regions (11 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

ScaleFund: Europe has the largest recorded deal count among the displayed regions (11 deals). All available history
RegionDeals
Europe11
United States4
ScaleFund: 20 co-investors are shown, with Seeder Fund sharing 4 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

ScaleFund: 20 co-investors are shown, with Seeder Fund sharing 4 recorded deals. All available history
Co-investorShared deals
Seeder Fund4
Shapr Ventures3
she1K3
VU Venture Partners3
Be Angels2
Bondi Capital2
Dedicated2
Expon Capital2
imec.istart2
Invest.BW2
Nauta Capital2
PMV2
Wille Finance2
Adara Ventures1
Airbridge Equity Partners1
Akiles1
Buysse & Partners1
Carricha Capital1
Curiosity VC1
finance&invest.brussels1

Investment Strategy

ScaleFund: Led accounts for 33% and participating for 67% of round participation.All available history.
ScaleFund: Led accounts for 33% and participating for 67% of round participation. All available history
CategoryDeals (count)Share (%)
Led533%
Participating1067%
ScaleFund: Single-lead accounts for 20% and co-led for 80% of lead dynamics.All available history.
ScaleFund: Single-lead accounts for 20% and co-led for 80% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead120%
Co-led480%

Team

Claire Munck

Founder & Managing Partner

Gauthier van der Elst

Partner

Paul Risopoulos
Thomas Pav