Pitchdrive Research
Investment Thesis
Pitchdrive is a Belgium-founded, pan-European pre-seed and seed fund built on what it calls the "Co-founder Capital" model: the fund itself is 100% privately backed by entrepreneurs and operators (no institutional or government LP money), and those same people form an active mentor pool that works alongside portfolio founders day to day. The firm was founded by Boris Bogaert, Wim Derkinderen and Koen Christiaens (all ex-Rydoo) and is chaired by Jonas Dhaenens, founder of European unicorn team.blue. With Fund IV (closed June 2026), the thesis has sharpened around AI-native companies: does the business have a reason to exist in the AI era, and does it operate like an AI-native company (small teams, infrastructure over headcount, AI built in from day one rather than bolted on). Pitchdrive explicitly passes on pure model labs and "AI for X" wrappers without a defensible data or operator angle.
Sector Focus
Industry agnostic by design, but concentrated in four buckets per the firm's own framing: B2B tech (vertical AI tools and infrastructure), Consumer (habit-forming products with real pull), Marketplaces (two-sided models with genuine network effects), and Software-defined hardware (robotics, devices and systems where the durable edge lives in software). In practice the portfolio spans legal tech (Henchman, exited to LexisNexis), food/feed compliance AI (Backbone), AI-native consumer research (Conveo), fintech/workplace pensions (Warren), hospitality revenue AI (Otamiser), global employee benefits (Happl), and now AI compliance/enterprise security (ZeroDrift) and space tech / laser wireless power (ORiS) — its first two US and SpaceTech bets respectively.
Stage Focus
Strictly pre-seed and seed. Fund IV targets 25-30 new companies at these stages across Europe and, increasingly, the US.
Check Size
First-cheque range of €250K-2M per the firm's own site and press materials, consistent across recent rounds (Backbone €4M pre-seed, ORiS €5M pre-seed, ZeroDrift $10M seed).
Lead Tendency
Mixed but frequently the initiator: Pitchdrive led Backbone's €4M pre-seed and co-led ORiS's €5M pre-seed and ZeroDrift's $10M seed alongside other institutional investors (Earlybird, Reign Ventures, a16z Speedrun). It also continues to invest in follow-on rounds of existing portfolio companies (Conveo's $50M Series A, its second check into the company since first backing it in July 2024).
Recent Activity
Highly active through 2026: Otamiser $2M follow-on (Feb), Happl $11M Series A (May), ZeroDrift $10M seed co-lead and new NY office launch (June), Fund IV close at €60M (June), Warren €10M seed (June), ORiS €5M pre-seed co-lead (July), Conveo $50M Series A follow-on (September), Backbone €4M pre-seed lead (September). Fund status: actively deploying from Fund IV.
Portfolio Highlights
+70 companies backed since 2020 across Funds I-IV, which the firm states rank in the top 10% of venture funds globally through Fund III. Notable: Henchman (acquired by LexisNexis, 2024), Conveo (YC-backed, $55.8M+ raised, 400+ enterprise customers including Google, Unilever, AB InBev, Canva), Happl (global benefits OS, Moelis/Kainos/Hootsuite customers), Warren (~100 Belgian employer customers within a year of launch), ZeroDrift (founded by Accern founder Kumesh Aroomoogan, backed by a16z Speedrun), ORiS (Politecnico di Torino spinout, first Pitchdrive SpaceTech bet), Backbone (founded by Henchman/Showpad/Rydoo alumni). Other portfolio names visible on the public portfolio grid include ZeroDrift, Planet B, Food Amigos, Bizzy, NineID, 1Deploy, Heltia, Donna, Gro, Keaz, Peepel, Introw, Fixform, Powernaut, Pleasefix.ai, Claimit, Wonnda, Emerge, MAAT, Belli, and Greenspark.
Team
- Boris Bogaert — Co-founder & Managing Partner
- Koen Christiaens — Co-founder & Managing Partner (ex-Rydoo)
- Wim Derkinderen — Co-founder & Managing Partner
- Emily Kegels — Partner
- Alexine Capiau — Partner
- Ruth De Vits — Startup Lead
- Bram Troch — Operations
- Xhun Cedillo — Legal
- Jonas Dhaenens — Co-founder & Board Member, Chairman (founder of team.blue)
- Lorenz Bogaert — Co-founder & Board Member
The firm also runs a mentor pool of 20+ operators (from Deliverect, Lighthouse, Showpad, Teamleader, Silverfin/Ravical, Henchman, Loop Earplugs, Mobile Vikings, Foodbag, Smooved, StarApps, Spott, Sofico, TRIA Advisory, Horizons Ventures) who actively support portfolio companies alongside capital.
Decision Process
Partnership model across three co-founding Managing Partners plus two additional Partners; investment decisions run through this core partnership rather than a solo GP or large investment committee.
Founder Preferences
Founders who default to building with AI rather than bolting it on, and who show strong execution and domain obsession. Several recent bets are repeat founders or teams with direct experience at prior Pitchdrive portfolio companies (Backbone's founders came from Henchman, Showpad and Rydoo), reflecting a preference for the fund's own network and previously validated operators.
Geographic Focus
European-focused by mandate (Belgium HQ in Antwerp, plus offices in Ghent, Amsterdam, Berlin, Barcelona and London), now deliberately expanding into the US via a new New York office and its first US investment (ZeroDrift).