Active Ownership

We invest a significant portion of our own money and time into the portfolio companies. Hence, we have a very strong incentive to make the investment work. This does not mean that we will or want to micromanage or take management positions, but it does mean that we are a simple phone call or email away to discuss strategy or debate choices. We take pride in knowing our businesses well and are therefore confident to focus on the things that matter and avoid lengthy board meetings with endless reports.

Focus

We see our companies perform best when they focus and spend time on developing and executing on their strategy. We see it as natural that owners should do the same to reserve availability and actively look for ways to help our companies get better. We therefore only have up to five platform companies at any given time.

Value Creation

We are meticulous about understanding underlying markets and customer behaviour, trends, and grow into segments with tailwind. Understanding the basic drivers gives significant strategic optionality and unique development tracks that can deliver niche protection, recurring revenues, enjoy above market growth and attract talented team members. Coupled with experience, strong management and a vast network, we are sure to create value.

Flexible Strategies

We have developed and worked with small and large companies. Each one has unique challenges and opportunities. We have developed software from scratch to complement existing services, done M&A roll-ups, developed new products and sales channels, bundled tech and services. Our point is that we rarely think a cookie-cutter approach will deliver and we have to adapt our thinking to each company to drive value creation. We want to deliver solid companies that can handle a downturn and take advantage in upcycles and for this there is no “one size fits all”.

Lasting Partnerships

We are not a classic investment fund and will not have a standard investment horizon. This allows us to always think and make decisions for the long term. This does not mean that we will not exit or create liquidity for our co-shareholders, but rather that we don’t have to work against an artificial timeline. Sometimes strategies take a short time to execute, other times longer. We think the investment should be realised when the company is ready or a perfect opportunity presents itself.

More than Financial Engineering

We have access to both debt and equity capital through our network, but consider this to be a tool, rather than a playbook. We want to contribute industry experience, customer network, access to talent, financial solidity and clear messaging. All intangible, but in our view critical to build quality businesses.

Investment Size

• Equity checks of EUR5-20m on our own

• We can look at smaller tickets if there is a visible plan to take committed capital into our sweet spot over 12 months. Smaller companies where the seller is active in a management position but want to leave are not of interest

• On larger transactions we can partner with our investor network to execute transactions of up to EUR300m

• All positions are majority investments