Noshaq

Noshaq provides equity, quasi-equity, and structured financing to companies at every stage — from seed and startup through expansion and late-stage growth. The firm focuses on businesses that contribute to the economic development of Liège and the Walloon region, operating across seven priority sectors. Unlike a conventional venture or growth equity firm, Noshaq carries a public-interest mandate tied to regional transition.

Noshaq's deal flow is structurally embedded in the Walloon ecosystem through long-standing relationships with regional public agencies, research institutions, local banks, and industry networks. The firm's 60-person team maintains a high-touch presence across the Liège economic corridor, generating proprietary visibility into early-stage and growth companies before they reach broader private markets.

Noshaq describes its approach as investing itself alongside its capital, offering operational support and sector expertise to portfolio companies. While specific governance practices are not publicly detailed, the firm's emphasis on accompaniment and its long-duration relationships suggest active board-level involvement, particularly in earlier-stage and growth-equity positions.

Noshaq functions as both a fund manager and an ecosystem architect for the Liège region. The firm collaborates with public agencies, research centers, and financial institutions to structure favorable conditions for company creation and growth. Its two-building headquarters — one historic, one modern — symbolizes the firm's role in transitioning Liège's industrial heritage into a diversified technology and services economy.