Press release October 31, 2019
Venture fund helps scale-ups with growth plans underway
The Borski Fund has raised 21 million euros to invest in scale-ups with a woman at the helm. The Borski Fund is the first Dutch venture capital fund that focuses on stimulating female entrepreneurs in the Netherlands. ABN Amro, ING and Rabobank have jointly committed to the fund. The banks each invest five million euros.
International and national data shows that scale-ups of female entrepreneurs find it difficult to obtain growth capital. The Borski Fund is changing this and sees opportunities. With this new funding, the ambition is to invest in companies that need growth capital, for example to get started with innovations in HR and Femtech. Over the next five years, 15-20 companies can be helped further.
The Next Women, an entrepreneurial network aimed at female entrepreneurs, and StartGreen Capital, the largest fund manager in sustainability in the Netherlands, are responsible for the Borski Fund. Simone Brummelhuis is founder of The Next Women and also initiator and fund director of the Borski Fund. “Venture capital investors are predominantly men, who often have a tendency to invest in like-minded people. So there are also women who do not knock on the door of these parties at all, which means that women do not always receive the risk capital they deserve. ”
This new source of funding is being used to boost the strength of female entrepreneurs and teams with diversity and help their businesses grow. “The ambition to open a venture fund under the banner of The Next Women has always been there. We have now seen that there is plenty of interest and sufficient deal flow. Now, together with Laura Rooseboom from StartGreen Capital, it is time for the next step with the Borski Fund. I am glad the time has come! ”
Daphne de Kluis, CEO Commercial Banking at ABN AMRO: “In practice, we see that female entrepreneurs have more difficult access to capital. Only a few percent of all start-up and scale-up financing goes to female entrepreneurs. We are happy to contribute to the Borski Fund and are convinced that the fund will make a positive contribution to female entrepreneurship in the Netherlands. ”
Annemein Kolk, Director of Large Business at ING in the Netherlands: “Female entrepreneurs deserve more attention from investors and banks. Research shows that although women generally have less capital available than male entrepreneurs, they still generate more than twice as much turnover on the invested capital. By giving these entrepreneurs more financial scope with the Borski fund, potential is mobilized, which now remains unused. ”
Jan van Nieuwenhuizen, Wholesale Director at Rabobank: “It is a good step that the three major Dutch banks have jointly committed themselves to the Borski Fund. In addition to the strong business case that will generate returns, the fund gives a boost to female entrepreneurship in the Netherlands. There are certainly opportunities here that are currently underutilized. ”
In addition to the three major banks, Van Lanschot, family offices and a large number of informal investors also invest. The latter will also be involved in the companies in which the Borski Fund will invest. The fund has the ambition to attract even more investors in the coming year.
Read more about the Borski Fund on the website www.borskifund.com