Social Impact Ventures holds final close on €40m

The final closing was held thanks to new commitments from ASN Venture Capital Fonds (part of ASN Bank's ASN Beleggingsfondsen) and ASR Nederland, committing €3m and €5m respectively.

The fund's target, originally set at €35m, was raised to €40m due to strong interest from investors.

The announcement comes after the fund announced a second close on €30m in April, with €19m new commitments from the European Investment Fund (EIF) and institutional investors. In July 2015, the fund had also held a first close on €11m.

Investors
In addition to institutional investors ASN and ASR, EIF and a group of institutional investors also backed Social IV Fund I.

The fund operates as a cooperative, with investors becoming members. The initial group of early members were families, high-net-worth individuals and foundations.

Investments
Social IV focuses on small and medium-sized enterprises with a positive social impact on Dutch society. Its goal is to invest in approximately 15-20 companies in the next couple of years.

The fund brands itself as the largest "independent impact fund" in the Netherlands, providing growth capital to social enterprises with a stable business model, and a positive and measurable impact on people and the environment.

After its founding in 2014, the fund invested in a number of businesses, including Taxi Electric, a 100% electric taxi company employing people aged 50 and over, and waste collection company Afval Loon – which pays people to recycle their waste.

People
Social Impact Ventures – Warner Phillips, Helmer Schukken (partners).
Group Asset Management – Jack Julicher (director).
ASN Beleggingsfondsen (ASN Bank) – Stephan Langen (senior manager).

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• Benelux
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• Benelux
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