BeAngels
BeAngels is a Brussels-based business angel network, one of the largest in Europe, that connects more than 500 private investors with early-stage startups across Belgium, Luxembourg and France. Its members invest from pre-seed through seed and have backed nearly 426 startups. As of 2026 it has backed 2 water companies across 2 deals.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
BeAngels is not a fund in the usual sense. Instead of one pool of money run by a few partners, it is a network of more than 500 individual business angels, wealthy private investors who put their own money and time into young companies, while a small Brussels team curates the dealflow and structures the rounds. The capital belongs to the members, not the house, which is the defining feature of an angel network and the thing newcomers most often miss.
BeAngels backs companies at the earliest stages, from pre-seed (the first outside cheque a founder raises) through seed, across Belgium, Luxembourg and France. Over more than two decades its members have invested upward of EUR 80 million into nearly 426 startups. Water is a thin slice of that: the two water companies (don't) Waste Water tracks, Liquisens and Shayp, are both Belgian digital-water plays that bolt sensors and software onto water systems rather than build heavy hardware or run utilities.
BeAngels' two water bets share a clear pattern. Liquisens puts AI-driven sensors on industrial water to read quality in real time, flagging contaminants and outbreaks like Legionella before they spread; Shayp clips a single machine-learning sensor onto a building's supply to catch leaks and waste. Both are software-first, capital-light bets on smarter water, not heavier infrastructure, and both were syndicated alongside Belgium's early-stage crowd, including the accelerator-investor imec.istart.
BeAngels has also built a bridge to the round that comes after the angels. As of mid-2025 its sister vehicle, ScaleFund, was raising its third fund, ScaleFund III, which had taken in EUR 12 million toward a EUR 30 million target to back Benelux and French tech at seed and Series A. That means BeAngels can write a founder's first cheque and then point to follow-on capital, the gap where promising startups most often stall.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 2 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does BeAngels invest in?
- BeAngels invests in early-stage startups across Belgium, Luxembourg and France, from pre-seed through seed. It is broadly sector-agnostic, backing digital, tech and cleantech companies, and its members have funded nearly 426 startups. Within that, (don't) Waste Water tracks 2 water companies it has backed, both in digital water monitoring.
- Who runs BeAngels?
- BeAngels is led by CEO Claire Munck, who has run the network for much of its history. A small Brussels team manages dealflow and deal structuring, including dealflow head Yanis Fares and head of transactions Francois-Xavier Fanard, while the actual investing capital comes from its 500-plus business angel members.
- What stage does BeAngels invest at?
- BeAngels focuses on the earliest stages, from pre-seed, a founder's first outside funding, through seed. Its angels invest individually and in syndicates, and the network runs investor training and dozens of fundraising events a year. For later rounds, its sister fund ScaleFund invests at seed and Series A.
- Does BeAngels invest in water?
- BeAngels is a generalist angel network, not a water specialist, but it has backed water startups. (don't) Waste Water tracks 2 water companies in its portfolio, Liquisens and Shayp, both Belgian digital-water firms using sensors and software to monitor water quality and detect leaks across industrial sites and buildings.
- Is BeAngels the same as Business Angels Europe?
- BeAngels is the Belgian business angel network founded in Brussels and also active in Luxembourg and northern France. It is not the same as Business Angels Europe, the EU federation of angel groups. BeAngels Luxembourg is its local chapter, not a separate organisation.