€ 64 mln for IQCapital at fund expansion InnovationQuarter
InnovationQuarter’s own fund – IQCapital – will be expanded with € 63.6 million to a total size of € 140 million. This will give IQCapital more room to accelerate the growth of innovative Zuid-Holland scale-ups and startups, to invest early in deep- and high-tech propositions and to further strengthen the investment climate. The additional fund capital comes from the Ministry of Economic Affairs & Climate Change and the existing shareholders of InnovationQuarter.
InnovationQuarter is by far the most active investor in South Holland. Its own fund IQCapital has made over 90 investments in more than 50 companies since its inception in 2014. In total over € 70 million was invested in these companies to date. Most capital was invested in the Life Sciences (33%), Digital Technology (24%) and Hightech (20%) sectors. In addition, investments are made in other strong sectors in South Holland: Energy, Circular, Aerospace, Maritime, Horticulture and Cybersecurity.
Every euro yields three to four euros in co-financing
IQCapital is known for its large network of co-investors. Every euro that InnovationQuarter invests yields an additional 3 to 4 euros from co-investors. Over 80 different co-investors have already invested approximately € 230 million in the portfolio companies of IQCapital.
Solving major societal challenges, in the Netherlands and the world, is not possible without investments in breakthrough technologies. For example, thanks to investments from InnovationQuarter, hundreds of billions of heart muscle cells have already been grown from stem cells (Ncardia, Leiden), one million plastic packaging units have been saved (Pieter Pot, Rotterdam) and 25 million digital systems have been protected from hacking (Cybersprint, The Hague).
Innovation takes money, patience and collaboration
“Groundbreaking technologies provide the solutions to our societal challenges. Those technologies require money, patience and collaboration. And that’s exactly what we can offer from InnovationQuarter,” says Liduina Hammer, head of Investments at InnovationQuarter. “Our shareholders have also felt that urgency and have given us their trust. We are extremely grateful for that. With this additional fund capital we can help more scale-ups and startups to the next phase and invest even more in deep tech and high-tech propositions. We will not do this alone, but together with our companies, co-investors and shareholders. Because making an impact is something you do together.”
“In recent years, together with our partners, we have carefully built a successful ecosystem for innovative entrepreneurs in South Holland,” said delegate Meindert Stolk. “With this, we can make the difference on major issues such as the energy transition, circular economy and digitalization. By contributing almost € 15 mln extra to IQCapital as a province, we are making this possible.”
€ 150 mln for the national network of ROM’s
The fund expansion follows the announcement by the Ministry of Economic Affairs and Climate Change, last September, to strengthen the fund capacity of the regional development corporations in the Netherlands with € 150 million, under the condition of equal contributions by the co-shareholders. InnovationQuarter has a broad shareholder base: the Ministry of Economic Affairs and Climate, South Holland province, the municipalities of The Hague, Rotterdam, Delft, Leiden, Zoetermeer, Drechtsteden and Westland, TU Delft, Leiden University, LUMC, Erasmus MC and HEID (Holdingfonds Economische Investeringen Den Haag).
The € 63.6 million fund increase (€ 31.8 from EZK and € 31.8 from the other shareholders of InnovationQuarter) is the proportional share for South Holland based on the gross regional product.
See also: InnovationQuarter celebrates investment in 100th company
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