A group of sixentrepreneurs and angel investors have announced today the launch of their first fund, aiming to support Dutch early-stage tech startups.
Named the Dutch Operator Fund I, it has raised €2mn in capital. The amount is backed by the team itself and a loan from the Seed Business Angel scheme of the Netherlands Enterprise Agency (RVO).
Investments will range between €75K and €200K, with the possibility of follow-up funding.
The fund targets startups in the (pre-)seed phase. “There is a need for this in our country, because for many institutional investors, investing in this stage is often ‘too early,’” said Geert-Jan Smits, one of the fund’s founders.
According to data from Dealroom, Dutch startups raised $162.6mn in pre-seed and seed rounds in the first two quarters of 2024. The equivalent amount for Series A was $186.4mn and $407.5mn for Series B.
Investment criteria
The Dutch Operator Fund I’s focus areas are software, SaaS, circular economy, and tech related to applications in climate, health, retail, food, and travel.
The fund is looking for companies that have developed their own technology. They also need to have a scalable business model and demonstrate initial commercial traction.
Other criteria include a clearly defined market and target audience and founding teams of two to four people — and preferably, second-time founders.
In addition to the capital, the team says it will contribute its own entrepreneurial experience and network.
Behind the Dutch Operator Fund are Sjoerd van Berkel, Jeroen Bertrams, Quinten Selhorst, Geert-Jan Smits, Rutger Teunissen, and David Vermeulen. Combined, they have founded and scaled 30 companies and realised 13 exits.
The group of six founded the fund earlier this year in Amsterdam. Interested startups can begin applying for the first round starting today.
Other Netherlands-based funds that target early-stage startups are the Dutch Founders Fund, LUMO Labs, and Newion.