Good prospects for 2024
In the past year, a number of large, new Venture Capital Funds have been set up, particularly in the life sciences, with Forbion Ventures Fund VI and Gilde Healthcare Venture & Growth VI, both with a size of around 750 million euros. In the rest of the market, depending on the specific sector, it was more challenging in 2023 to pick up new VC funds. We saw, for example, more commitment from Dutch pension funds such as Gilde Healthcare, Forbion and Innovation Industries, among others. For example, PME and PMT from the metal sector, together with a British pension fund, put around 110 million euro in the Gilde Healthcare Fund, and was involved in the ‘first close’ of 200 million euro of the new fund (with a ‘target’ of 475 million euro) from DeepTech investor Innovation Industries.
Many funds that were previously established also have room to invest. For example, Venture Capital Funds 2023 started with a record amount of “Dry Powder”, which, given the lower investments in 2023, was not fully deployed. Finally, the interest of wealthy persons (High Net Worth Individuals, HNWIS) to invest in funds has increased, as can be seen in the increase of so-called “umbrella funds” that make it possible to invest in, among other things, venture capital. Combined with the expectation that the interest rate will not rise further, 2024 offers a good prospect to structurally grow investments in startups and scaleups. In any case, the year is beginning on an upward trend, starting with the investment of 355 million euros in Picnic.
“We saw only a few big surprises in the last quarter. After a difficult period, the market has appeared to stabilize and we are seeing signs of growth. A positive development that one has not yet seen anywhere else in the world,” said Lucien Burm, president of the Dutch Startup Association. “We are therefore optimistic as we dive into 2024. The interest rates seem to have reached their highest point and there may be more ‘limited partners’ in venture capital funds. We expect Dutch startups to reap the benefits. “
“In the Netherlands, we see that private investor venture capitalists were less active in 2023, but this was partly compensated by the activities of InvestNL,” said Maaren Cleeren, managing director of Techleap. “InvestNL is therefore increasingly emerging as the backbone of Dutch start-up investments in Deeptech. Other local investments such as those from regional development companies have also remained relatively consistent. If investments follow from venture capitalists, then the coming year will look promising for Dutch startups. ”
Check all 2023 investments here.
More information about each Q4 investment, check Dealroom.
Techleap: Mark van Gemeren, email@example.com 0654921042
DSA: Lucien Burm, firstname.lastname@example.org 0615077510
Golden Egg Check: Thomas Mensink email@example.com 0652108818 (data)
About Quarterly Startup Report – to ensure that the structural view of Dutch startup investments is consistent, complete and transparent, dealroom.co, the Dutch Startup Association (DSA), Golden Egg Check, KPMG, NVP, the Regional Development companies (ROMs) and Techleap.nl has collected all investment data, synchronized it, and made it available in an insightful quarterly report. The full startup quarterly report, which contains the most important trends and data on all reported deals, is available here.