To accelerate economic recovery the Fresh Closed SME Fund has secured a € 30 million commitment from the European Investment Fund (EIF) and the Dutch Government impact investor Invest-NL to unlock new financing for Dutch businesses, including in sectors impacted by the pandemic. The new financing is backed by the the European Guarantee Fund and the Dutch Alternative Credit Instrument (DACI) mandates. Additionally, investors of OHV Wealth management and SME platform Voordegroei made the fund launch possible. The fund, with a total target volume of € 50 million, is intended to stimulate the growth of Dutch SMEs. The fund is still open to new commitments from institutional and professional investors to commit alongside EIF and Invest-NL.

The investment of Invest-NL and the EIF is part of the Dutch Alternative Credit Instrument (DACI) initiative, recently launched by the Dutch government, Invest-NL and the EIF. DACI invests in debt funds with the aim of providing access to alternative financing sources for Dutch SMEs, mainly through non-bank lenders. This investment of Invest-NL and EIF in the context of the DACI initiative will fully benefit Dutch SME’s.

The Fresh Closed SME Fund is Fresh Funds second SME fund. At the beginning of 2021, a first open-ended SME fund was launched together with Dutch insurer De Goudse Verzekeringen in which both private investors and institutional parties invest in Dutch SME companies. This second fund builds further on this investment strategy and offers greater opportunities for companies through lower collateral requirements. Additionally, it targets companies in an earlier growth phase. The fund will mainly invest in growth, innovation, sustainability and digitisation and thus actively contribute to the maintenance and further development of Dutch scale-ups, family businesses and regular SMEs.

The new Fresh Closed SME Fund offers investors a highly diversified portfolio of loans with amounts ranging from € 100,000 to € 1.25 million. The selection of the loans has been outsourced to Voordegroei, a non-bank financier with relevant experience in selecting, analyzing and monitoring SME loans. With its focus on quality and a personal approach, Voordegroei has managed to expand its position as a financier of SME.

Bart Vemer, fund manager Fresh SME Funds:

“With this fund we are taking the next step in our ambition to make an active contribution to the development of Dutch SMEs through our SME funds. We see a lot of interest from professional investors and private investors to allocate to this asset class. Even before the official launch, we have raised most of the targeted € 50 million in commitments. The investment by EIF and Invest-NL provides an extra incentive and is also a signal to investors that SME loans are an interesting investment category. We also see the investments as a token of trust for our processes and working methods. With our funds, we offer Dutch SMEs an opportunity to realize their plans.”

Wouter Bos, CEO of Invest-NL:

”This investment is much needed for providing alternative capital to Dutch SMEs, enabling them to maintain and grow their businesses. Investments in innovation, sustainability and digitisation will further enhance the impact that Dutch SMEs can have in shaping the future of the Netherlands.”

Alain Godard, chief executive of the EIF:

“The EIB Group has worked extensively with InvestNL over the last few years, resulting in a number of funds aimed at supporting Dutch SMEs. I am glad to see the DACI working as intended to improve the access to finance of local companies.”

Background information

About EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. The main objective of the fund is to support micro-enterprises and SMEs by helping them access finance. The EIF designs and implements venture capital, growth capital, guarantee and microfinance instruments specifically targeting this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

More information: www.eif.org

About Fresh

The Fresh funds are managed by OHV Insitutional Asset Management, a subsidiary of OHV Wealth Management, which operates under the Dutch authority AFM license under the AIFMD regime. Wealth manager Oolders, Heijning & Voogelaar (OHV) was founded in 1932 and performs besides wealth management activities as an intermediary in the capital market for institutional parties. By combining the forces of Voordegroei and OHV, the services have been expanded further and the spectrum of financing options has broadened. This has created an ecosystem of various services and customer groups that have made this initiative possible.

For more information, visit www.freshfunds.nl

About Invest-NL

Invest-NL is an impact investor that focuses on companies and projects that make the Netherlands more sustainable and innovative. The focus is on a CO2-neutral and circular economy and on innovative, fast-growing companies, or scale-ups. Invest-NL supports innovative entrepreneurs with financing and advice according to one simple principle: impact is our goal, return is our means. As a Dutch partner for European investment institutions, Invest-NL is focused on cooperation and always works together with other investors. Invest-NL has its head office in Amsterdam and has 80 employees. For more information, visit www.invest-nl.nl

Press contacts

EIF: Richard Willis, r.willis@eib.org, tel.: +352 43 79 82155 / Mobile: +352 621 55 57 58
Website: www.eif.org - Press Office: +352 4379 21000 – press@eib.org

Fresh: Bart Vemer b.vemer@ohv.nl +31 636156322

Invest-NL: Paul Hartogsveld: pers@invest-nl.nl, +31 611589127