Zeeuws participatiefonds

Who is the Zeeuws Participatiefonds for?

The Zeeuws Participatiefonds (ZPF) provides venture capital to growing entrepreneurs that have a substantial impact on the economy and employment in Zeeland. There is a strong preference for innovative businesses. We are looking for companies that are in the ‘early growth phase’ or companies that want to expand further.

To be eligible for an investment from the ZPF, companies must already be active on the market and have achieved turnover. Furthermore, entrepreneurs must be open to feedback from a ZPF expert who acts as a sounding board. Companies are preferably located in Zeeland, or at the very least have a proven impact on the economy and employment in Zeeland.

The ZPF is known for its:

  • Pro-active attitude, pragmatic approach with direct lines of communication and fast response.
  • Active role in the strategy development and guidance of the participating companies.
  • Knowledge of and experience with innovation and all related challenges.
  • Knowledge of the economy of Zeeland, including a broad network (in Zeeland).
Everything you should know

How the Zeeuws Participatie fonds works

Preference is given to companies with a proactive attitude and a pragmatic approach that can respond quickly.

An investment trajectory is intensive and requires that the entrepreneur makes sufficient time available and provides the relevant information. We strive for a short trajectory. Usually there is a deal within three to four months. This depends, of course, on the quality of the information provided.

The investment from the ZPF takes place through an equity interest, which may be combined with a loan. The maximum investment amount is €1,000,000.

- A business plan, approved by a financial expert, including a financial forecast for the next three to five years.

- The last 2 annual statements of accounts.

- Recent interim figures.

Based on the documents provided by the entrepreneur and several interviews with the entrepreneur and his/her team, a quick scan is performed. This quick scan is presented to the ZPF board and the Investment Committee.

If the quick scan results in a ‘go’, the drafting of the investment proposal can be started. This includes:

- Negotiations on the terms sheet (conditions with regard to valuation, control rights, exit, etc.).

- Team analysis, interviews and track record analysis.

- A due diligence, whether or not partly carried out by an external expert.

Finally, the entrepreneur and his or her team present themselves to the investment committee, after which the decision whether or not to invest is taken. This decision is communicated back to the entrepreneur the same day, after which, in case of a positive decision, the funds are usually made available within a week.

As a shareholder, we like to play an active role as a sounding board and, if needed, through hands-on guidance in various areas that are important in developing a strategy and rolling it out. This is always a customised process in consultation with the entrepreneur. As ZPF, we only want to invest in companies that are explicitly open to this.

The investment horizon of the ZPF is usually five years, after which an exit follows. Clear agreements are made about this at the start of the participation. An exit can take place by buying back the shares by the entrepreneur(s), the company, or by selling them to a strategic party. The exit strategy is discussed at the annual shareholders’ meeting.

Companies that have not yet achieved any turnover.

Companies active in real estate, the hospitality industry or retail (B-to-C).

Companies that do not have a sound record keeping and management information system.

Companies that do not consider CSR of paramount importance.

Companies that are in financial difficulties through their own fault.

Companies that are not open to feedback (also in the investment trajectory) and hands-on guidance.

Companies that do not have a clearly demonstrable impact on the economy/employment in Zeeland.

One-person businesses.

Companies that do not want a shareholder on board.

Get in touch

Contact our investment managers

Edwin van Houte

Manager Innovation Finance

Ralph Veerhoek

Investment Manager