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Single Family OfficePuts its own capital into companiesLAST VERIFIED Oct 2026 · 6 SOURCES

Software Holding & Finance

Also known as SHF

Aarschot investment company (SHF) set up by entrepreneur Leo Billion after selling Elbicon in 1995; seed and early-stage stakes in Belgian technology and biotech start-ups.

USEFUL FOR Founders · Co-investors

Family & background

HEADQUARTERS
Aarschot, Belgium
FOUNDED
1996
OUTSIDE CAPITAL
No — own capital only

Investment approach

SECTORS
Software & SaaSBiotech & Life SciencesHealthTechDeep Tech
GEOGRAPHY
Belgium
STAGES
SeedSeries A
ROUTES
Companies (own capital)
STRATEGIES
Venture capital

Overview

Software Holding & Finance (SHF) was started by Leo Billion after he sold his Elbicon group, a maker of automated visual inspection systems, in 1995. Its website describes it as a Belgian venture capital provider making hands-on seed and early-stage investments in local emerging-technology companies in IT, software, telecom, biotech, pharma and new materials. Listed holdings include Arenco, Option, Silicos, Target and XenICs, with exits such as CoWare (to Synopsys) and Eonic (to Wind River). The company remains active in the Belgian register, with Marc Mommaerts's company appointed managing director in December 2023.

Investment thesis

Seed and early-stage investments in local emerging-technology companies (IT, software, telecom, biotech, pharma, new materials), with hands-on support in management, finance, legal and sales.

Holdings & investments (9)

  • Arenco Pharmaceutica
    Biotech & Life Sciences
  • Option
    Deep Tech
  • Silicos
    Biotech & Life Sciences
  • Target
    Software & SaaS
  • XenICs
    Deep Tech
  • Capricorn
    Exited
  • CoWare
    Software & SaaS · Acquired (Synopsys, 2010)
  • Eonic
    Software & SaaS · Acquired (Wind River Systems, 2001)
  • Sirius Communications
    Deep Tech · Exited

People

  • Leo Billion
    Founder and Chairman · source
  • Marc Mommaerts
    Managing Director · source
  • Dirk Smolders
    Financial Manager · source

Frequently asked questions

Software Holding & Finance is a single family office based in Aarschot, Belgium, founded in 1996.

Software Holding & Finance invests its own capital into companies. Its stated asset mix includes venture capital.

Software Holding & Finance invests at Seed and Series A stages in Software & SaaS, Biotech & Life Sciences, HealthTech and Deep Tech.

Key people at Software Holding & Finance include Leo Billion (Founder and Chairman), Marc Mommaerts (Managing Director) and Dirk Smolders (Financial Manager).

Software Holding & Finance's holdings and investments include Arenco Pharmaceutica, Option, Silicos, Target, XenICs, Capricorn, CoWare and Eonic, among others.

No. Software Holding & Finance invests its own capital and does not raise money from outside investors.