Wallonia invests €20 million in FNX ventures: boosting innovation in security technologies

Wallonie Entreprendre (WE) and the Herstal Group have jointly launched FNX ventures, a €20 million investment fund to support innovative startups in cybersecurity, dual-use technologies, and new materials

This collaboration represents a significant investment in the future of technological innovation and economic growth in Wallonia and beyond. By supporting startups in key sectors such as cybersecurity and advanced materials, FNX ventures is set to catalyse innovation, job opportunities, and strengthen Wallonia's position as a hub of technological excellence.

Key highlights of FNX ventures

• Led by BioWin and involving 26 partners, FNX Ventures aims to support early-stage startups in Belgium, France, and Germany.
• With a focus on cybersecurity, dual-use technologies, and new materials, FNX Ventures provides initial investments ranging from €200,000 to €500,000, with potential for further funding up to €2 million per company.
• The fund targets companies with scalable business models operating in the security and protection industry, including areas such as artificial intelligence, robotics, advanced electronics and computing, cybersecurity, and physical security.
• WE and the Herstal Group offer financial support and tailored industrial and commercial guidance to startups backed by FNX Ventures, ensuring comprehensive assistance throughout their growth journey.

Significance of FNX ventures

• FNX Ventures plays a pivotal role in nurturing young technological enterprises, particularly in the fields of security and sustainability, by providing financial contributions and tangible support.
• The Herstal Group, a global leader in small arms and firearms, brings its renowned brands such as FN, Browning, and Winchester to the venture, further enhancing its industry expertise and network.
• With its headquarters in Herstal and owned by Wallonia Entreprendre, the Herstal Group employs 3,000 individuals across its subsidiaries in multiple countries, underscoring its commitment to driving innovation and economic development in the region.

This venture underscores the commitment of both WE and the Herstal Group to fostering entrepreneurship and driving forward the region's technological advancement agenda.