7 best performing Dutch venture capital funds by IRR
According to PitchBook’s second quarter 2021 European Business Report, capital raised by European venture capital funds is expected to exceed 2020 figures by the end of the year. Sponsors and general partners are confident in their ability to find quality investment opportunities among a wide range of startups across all sectors of the continent, said Nalin Patel, PitchBook Senior Analyst, EMEA Private Capital.
In this blog post, we take a closer look at the top performing venture capital funds in the Netherlands. In particular, we highlight the best venture capital funds across the country by IRR, or internal rate of return, as of September 9, 2021.
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Top 7 Dutch venture capital funds by IRR *
* Based on PitchBook data as of September 8, 2021; data is subject to change frequently
BioGeneration Ventures II
- IRR: 104%
- Vintage: 2012
- Fund size: â¬ 15m
- Closing date: December 2012
Based in Naarden, The Netherlands and led by Founder and Managing Partner Edward van Wezel, BioGeneration Ventures II is a venture capital fund that invests in early stage, early and late stage healthcare companies. The fully invested fund has committed capital to Cristal Therapeutics of Maastricht and Oss-based Synaffix, two drug discovery startups, among other companies.
Angel Acrobator Fund
- IRR: 88%
- Vintage: 2011
- Fund size: â¬ 2.4 million
- Closing date: January 2019
Amsterdam-based venture capital firm Acrobator Ventures manages the Acrobator Angel Fund, which tends to make start-up and start-up investments in IT startups. The fund team is made up of co-founder and general partner Bas Godska and co-founder and managing partner Joachim Laqueur. Recent investments have included the Berlin-based financial software Monite, the Singaporean time-tracking app Clockster, and the Omdena Bay region collaborative AI platform.
FORBION Capital Fund IV
- IRR: 71.28%
- Vintage: 2018
- Fund size: â¬ 360m
- Closing date: September 2018
Based in Naarden, FORBION is a venture capital firm that works closely with entrepreneurs to build life science companies with technologies and products designed to transform people’s lives. FORBION IV focuses on healthcare opportunities in the EU and UK, as well as North America. The fund has eight active investments, including Naarden-based drug discovery start-up Azafaros, German biopharmaceutical company Catalym and Montreal drug developer Inversago, among others.
FORBION Capital Fund III
- IRR: 44.04%
- Vintage: 2015
- Fund size: â¬ 183m
- Closing date: April 2016
A member of the FORBION family of funds, FORBION III provides capital to healthcare venture capital start-ups, and in particular to drug, device and diagnostics companies. About 70% of the fund will go to Europe, with the rest to be allocated to the United States and Canada. Active investments of FORBION III include Brighton, UK-based Enterprise Therapeutics, Escalier Biosciences from Nijmegen and NorthSea Therapeutics from Amsterdam.
Newion II investments
- IRR: 33%
- Vintage: 2011
- Fund size: â¬ 48m
- Closing date: April 2011
Newion Investments II of Amsterdam is a venture capital fund with a fund strategy to invest primarily in early and late stage IT startups. Of the fund’s eight active investments, the most recent include social advertising platform The Next Ad and employee management software L1NDA, both based in Amsterdam. The Luxembourg-based European Investment Fund, a fund of funds, is a sponsor of Newion Investments II.
FCF I Co-investment fund I
- IRR: 30.77%
- Vintage: 2009
- Fund size: â¬ 54m
- Closing date: September 2010
Another fund managed by FORBION, FCF I Co-Invest Fund I is a fully invested general co-investment fund led by Operating Partner Sander van Deventer. In addition to FORBION, the Oslo, Norway-based insurance company, Kommunal Landspensjonskasse is a sponsor of FCF I, which allocates capital equally between start-up and development venture capital healthcare companies. The fund has two former investments: Xention, a UK-based drug discovery company, and Rhein Biotech, a DÃ¼sseldorf-based biotechnology company, Germany.
- IRR: 30.30%
- Vintage: 2009
- Fund size: â¬ 9m
- Closing date: October 2009
henQ II is an early stage venture capital fund managed by HenQ, an Amsterdam-based venture capital firm. The fund seeks to invest in young technology companies which offer a scalable product and which are managed by strong teams. The fund, which targets growing international markets such as new media, mobile telephony and software, has seven former investments, including Dutch group SEOshop and CWR Mobility.
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