October 1, 2020
Social Impact Ventures doubles fund size and renames to Rubio
Social Impact Ventures is launching a second, larger fund with a new name: Rubio Impact Ventures. The first closing of the new Fund at €55 million includes continued strong support from the European Investment Fund and comes with a €10m SEED Capital loan from Dutch RVO. The fund now has close to €100 million impact capital under management. The success of this first closing amidst a global pandemic signals the importance of impact investing and the trust placed in the investment strategy and frontrunner team. Building on its pioneering role, Rubio aims to further accelerate entrepreneurs with game changing solutions as it strongly believes that the most valuable companies of our time will be those solving society’s biggest problems.
Profit and purpose as a virtuous circle. Rubio’s first fund was founded in 2015 in response to strong demand from social entrepreneurs for growth capital and has been leading the charge in shaping the impact investing field. The €40 million Fund I has made 15 impact investments to date and has proven its investment thesis with 2 responsible exits with strong financial and impact returns. With a packed deal pipeline, the target for Rubio Fund II is to double in fund size while continuing to invest in the most ambitious entrepreneurs who are changing industries for the better. Rubio sees profit and purpose as a virtuous circle and the fund holds itself accountable for ambitious financial and impact targets. Rubio will continue to fundraise for a final close and aims for €140 million under management in 2021. The growth of the fund in the midst of a pandemic signals the trust of investors in the fund strategy and execution, as the largest investors in Fund I such as the European Investment Bank and Dutch insurer ASR, are increasing their stake and many new investors are coming on board.
Seed Capital: Rubio Impact Ventures won the SEED Capital tender of the Dutch enterprise agency RVO granting the maximum SEED Capital Loan of €10 million, which supports investments in innovative earlier stage impact entrepreneurs in the Netherlands.
European Investment Fund : The EIF participation in the Fund was made possible by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe of the European Commission. Alain Godard, Chief Executive of the EIF, stated: “This EIF investment underlines what is really important in business: people and impact. The European Investment Fund has supported Rubio Impact Ventures since 2016, as we believe in its strong approach to invest in innovative projects with a positive and fundamental impact on people and the environment. A European, environmentally-conscious, VC ecosystem that can contribute significantly to societal and economic change, should be a priority for all.” Paolo Gentiloni, European Commissioner for Economy, said: “Bright new ideas with a social mission need the right funding to get off the ground. With support from the Investment Plan for Europe, Rubio Impact Ventures in the Netherlands now has up to €100 million to give social enterprises a much-needed boost. A welcome contribution to building a more sustainable and socially inclusive economic model.”
Jack Julicher, CEO ASR Asset management & Chief Investment Officer “Rubio’s impact management has proven to be best in class and the fund is on track to prove its investment thesis creating both measurable impact and healthy returns. With this second fund they can accelerate their investing in companies with sustainable business models and systemic impact in the domain of circular solutions, people power and health living”
Helmer Schukken, Managing Partner Rubio “Impact investing is becoming the new normal and we are very excited that our current and new investors share our vision to invest in entrepreneurs that create impact and deliver financial returns. Together we can reshape industries in ways that move our planet forwards in a sustainable and inclusive way.”
About SEED The Dutch Ministry of Economic Affairs and Climate Policy aims to support technological and creative start-ups via the SEED Capital scheme. The ministry grants capital to selected venture capital funds that invest risk capital in innovative Dutch entrepreneurs.
About EIF/ EFSI The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment. The European Fund for Strategic Investments (EFSI) is the main pillar of the Investment Plan for Europe.
About Rubio Impact Ventures Rubio Impact Ventures was founded by Helmer Schukken, Warner Philips, Machtelt Groothuis and Willemijn Verloop. Rubio invests growth capital from €1-8 million in ‘iconic’ game changing ventures such as SkinVision, Van der Sat, OLIO and Samasource.