NewSchool VC has closed its first fund at 10 million euros. The Belgian venture capital fund invests in early-stage B2B technology companies, from Warren and Spotable to Cashfeed and Ravical. NewSchool now counts 32 investments, with three more in the pipeline. The fund was founded by Christophe Morbee, who spent years as an angel investor before launching it.
Last September, NewSchool Fund I raised 6.1 million euros at a first closing, against a target of 10 million euros. That target has now been reached. Around fifty investors back the fund, including six family offices, among them The Millers Office, alongside entrepreneurs from the Belgian business scene. These include Willem Delbaere and Roeland Delrue (Aikido Security), Jean-Louis Van Houwe (Monizze) and Luc Coopman (Cobofisk). Christophe Morbee, founder of NewSchool, contributes 25 percent of the fund himself.
"I invested as an angel for years, but felt it was time to build a real structure around it," says Christophe. "I love entrepreneurship, investing, and sharing what I know about marketing, sales, HR and finance with founders. That's what led me to launch a full-fledged fund."
From besox to NewSchool
NewSchool grew out of Morbee's experience at besox, a Belgian payroll and HR administration provider for SMEs, which he built into a company with 110 employees and revenue heading toward 15 million euros this year. That journey, from a first idea to a company that keeps growing well past the startup phase, shapes the fund's investment philosophy. Through besox, with its roughly 4,000 SME clients, the fund also opens doors for its portfolio companies to find early customers.
32 investments
Of NewSchool's 32 investments, 75 percent are based in Belgium, with the rest spread across Germany, the Netherlands, Norway, Spain, Switzerland, France and the United Kingdom. Among the best-known names that have since raised follow-on rounds are Ravical, Warren, Spotable and Donna. The portfolio also includes Dalton, Feedelity, Alice Law, Exhibitly and Cashfeed. Internationally, the fund recently invested in the Swiss company Talentir and in Paris-based Outline.
"Europe is an engineer's continent, with technically strong teams. What's often missing is someone who takes charge of go-to-market, sales and storytelling. That's where we focus, alongside the capital we provide. There's still enormous room to automate old industries. We see plenty of opportunity there for the years ahead," concludes Christophe.