Dutch private equity firm Karmijn Kapitaal has hit the first close of its first private equity fund, which will focus exclusively on companies that have a balanced management team of men and women.
The fund, which received commitments from more than 30 investors including the European Investment Fund (EIF), will invest in small cap management buy-outs and growth finance. The target size of the fund is €50m.
The companies have to show an extensive track record and turnovers between €5m and €50m, and must be headed by a mixed team of men and women, according to the firm.
The fund’s concept is unique in Europe, and over 100 companies have already contacted the firm, the first of which is due to be announced mid-March.
The current investor base consists of family offices and high net worth individuals. The EIF has signed up to the fund as anchor investor, participating in the second close, expected in Spring 2012. The EIF contributes 33 per cent of the total fund.
“The rationale of this focus is the fact that mixed managed companies show a better performance and reach higher financial results. These conclusions are shown by extensive research by McKinsey, Catalyst and others” said Hadewych Cels, one of the three women founders of the firm.
“Different people have different views, management styles and priorities, and these different styles lead to more balanced decision making. Additionally, the fact that our founders are women, gives us easy access to the women in the management teams, leading to proprietary dealflow.”
The Karmijn founding team, next to Cels, consists of Cilian Jansen Verplanke and Désirée van Boxtel. The team have more than 20 years of financial and investment experience, with ABN AMRO, Rabobank and private equity boutiques.
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