10 Sep henQ gets a fresh cash injection, launches its 3rd fund @ € 50 million
henQ III: ‘Investing from seed stage and up to 10 million euros’
Venture capital firm henQ launches its third fund with a record value of 50 million euros
Amsterdam, September 10, 2015 – Amsterdam-based venture capital firm henQ announces the launch of its third fund, henQ III, with a record value of 50 million euros. The funds will be used by henQ partners Herman Hintzen, Coen van Duiven and Floris van Alkemade to invest in promising software startups. “henQ is the only Dutch VC firm that dares to invest in early stage companies that are looking for seed investments from 100k upwards and has the ability to continue to invest in next rounds up to 10 million euros,” says Van Duiven.
Despite the risks, henQ always looks to invest at an early stage. According to henQ’s partners, this is necessary to make sure that ambitious young companies come to fruition as soon as possible. Practically all Dutch VC firms refrain from investing until a startup has already proven itself, but henQ differentiates itself by getting involved from the very early stages. And it has the capacity to invest up until and including the point where a company is ready for the large international investment firms, especially in the USA. “henQ has the network, experience and resources to do so,” says Van Duiven. “We can create a real gateway to international success, and to the USA in particular.”
Fruitful investments in fast-growing tech companies such as Mendix, Xite, SEOshop and Boostermedia, as well as successful exits like Wakoopa, Immidio, Mirror42, BackupAgent and Videostrip have put henQ on the map. Moreover, the current portfolio includes promising startups like Studytube, Monolith and Housing Anywhere. “We have 75 million euro’s under management which makes us the most prominent early stage player in the Netherlands,” says Van Duiven. “ There is an increasing need for this type of capital and the expertise we offer.”
The henQ III fund focuses on growing (Dutch) software companies with a scalable B2B platform generating recurring monthly revenue. Thanks to its participation in startups like SEOshop, henQ has acquired knowledge and experience in building marketing software solutions designed for SMEs. “This is still an unexplored market, which is difficult to penetrate, where we can add a lot of value,” says Van Duiven. henQ III is backed by several (software & internet) entrepreneurs and family offices who share both their network and part of their capital to stimulate entrepreneurial success. The European Investment Fund also contributes to henQ III.
The henQ team expects to finance up to twenty companies out of henQ III, most of which will be added to the henQ portfolio as a qualifier (with a seed investment of 100-500k). Successful companies can have access to follow-on financing up to 10 million euros. As part of its strategy henQ co-invests with other (international) firms, especially in the geographies were its startups are expanding. “By investing together, we leverage runway, effectiveness and operational strength for our startups,” says Van Duiven. “This enables them to scale-up faster. For doing so, henQ is on the outlook for entrepreneurial teams with “guts, ambition and perseverance.”