

Thibaut Claes
Thibaut is the General Manager of FNX Ventures, a venture capital fund focused on dual-use technologies at the intersection of security, defense, and civilian applications.
He has spent more than a decade working alongside startups, from incubators and accelerators to venture capital funds such as WING, Serena, and SRIW/Wallonie Entreprendre. His experience spans both early operational support and institutional investing.
Thibaut’s core focus is early-stage companies, particularly the critical phase where first customers are secured and the business model begins to crystallize. His investment approach goes beyond capital deployment: he favors a human-centric, hands-on style aimed at enabling disciplined execution and long-term value creation rather than short-term optics.
He positions himself as a direct, supportive, and demanding investor, with a strong emphasis on integrity, clarity, and transparency in founder–investor relationships. He believes technology’s transformative potential depends as much on strategic rigor and governance as on innovation itself.
Over the years, Thibaut has served on more than 35 boards of technology startups, ranging from small founding teams to more structured organizations. He is known for acting as an early “radar,” identifying strategic, operational, and governance risks by closely analyzing the downstream impact of key business decisions.

