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Software Holding & Finance
Founded in 1996 and headquartered in Aarschot, Belgium, Software Holding & Finance is the family office vehicle for Leo Billion, the founder of Elbicon...
Software Holding & Finance
Founded in 1996 and headquartered in Aarschot, Belgium, Software Holding & Finance is the family office vehicle for Leo Billion, the founder of Elbicon Industries. Billion formed the firm the year after Barco acquired his optical-inspection business, converting a concentrated industrial exit into a diversified, self-funded investment platform. SHF operates as an evergreen venture capital provider, targeting seed and early-stage companies in IT, software, telecom, biotech, pharma, and new materials. The firm’s geographic focus centers on the Benelux region and broader Europe. SHF takes a hands-on approach, supporting portfolio companies with management, finance, accounting, legal, and administrative functions. Co-investment relationships include Capricorn Venture Partners, a frequent partner in Belgian technology and life-science startups. The firm is managed by Leo Billion as Founder and Chairman alongside Marc Mommaerts (Managing Director) and Dirk Smolders (Financial Manager, formerly of PwC). The team operates from its owned headquarters on Nieuwlandlaan in Aarschot. Leo Billion also serves on the board of the Flanders Business School. SHF’s structure stands apart from standard closed-end venture funds: the absence of LP-driven fund cycles creates a permanent capital architecture. This allows the office to provide patient support for founder-led businesses without the forced timelines of institutional venture vehicles.
General information
Firm type
Single Family Office
Year founded
1996
AUM
Undisclosed
Location
Region
Europe
Country
Belgium
City
Aarschot
Corporate office
Nieuwlandlaan 9, 3200 Aarschot, Belgium
Principals
Leo Billion
Founder and Chairman
Marc Mommaerts
Managing Director
Dirk Smolders
Financial Manager
Sector focus
Frequently asked questions
Who runs investment decisions at Software Holding & Finance?
Leo Billion as Founder and Chairman sets the overall direction, while Marc Mommaerts serves as Managing Director. Both are supported by Financial Manager Dirk Smolders, who brings prior senior audit experience from PwC. The firm’s small, hands-on team makes decisions collaboratively.
Is Software Holding & Finance structured as a single family office or does it operate more like a venture firm?
It is a single-family office by structure and ownership, but it operates with the investment mandate of an evergreen venture capital firm. Because the capital base is permanent — sourced from Leo Billion’s exit of Elbicon Industries — the office faces no institutional fund-life pressure. This allows SHF to hold positions and support founders over a longer horizon than most closed-end venture funds.
Where does the underlying wealth come from?
The wealth originates from Leo Billion’s founding and 1995 divestiture of Elbicon Industries, an optical-inspection company, to Belgian display technology firm Barco. Software Holding & Finance was established the following year to steward the proceeds.
What investment stages does Software Holding & Finance target?
The firm exclusively targets seed and early-stage investments. Its website describes a focus on local emerging technology companies, typically at the very beginning of their commercial development trajectories.
Does Software Holding & Finance co-invest alongside other firms?
Yes. Capricorn Venture Partners is a named co-investment partner, with the two firms frequently collaborating on Belgian technology and life-science startup deals. SHF’s early-stage, high-touch approach makes it complementary to other regional venture investors.
Which sectors does Software Holding & Finance explicitly avoid?
SHF does not publish explicit exclusions, but its stated focus is narrow: IT, software, telecom, biotech, pharma, and new materials. Consumer-facing businesses, heavy industry, and real estate are absent from its described mandate.
How is SHF involved with portfolio companies beyond providing capital?
SHF describes a fairly hands-on approach, offering operational support in management, finance and accounting, legal, sales, and general administration. The team structure — including a former PwC audit manager — reflects an ability to embed operational rigor inside young companies.
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