Last week we have received news from the AFM that the EuVECA label has been granted for our new fund: Quadrum Investment Fund III.
The EuVECA label has been issued under the Venture Capital regulation. Private Equity fund managers, who primarily invest in SMEs, can apply for an EuVECA label under the Venture Capital regulation. The label is only issued by the AFM (the Dutch Authority for the Financial Markets) when an investment fund and its managers are able to meet a specific set of quality requirements and ongoing obligations. With the EuVECA label in place, Quadrum Capital is able to offer institutional investors in any of the member states of the European Union the opportunity to invest in Quadrum Investment Fund III.
Based on the current commitment of existing and new investors a first close of Quadrum Investment Fund III is scheduled for October of this year. Institutional investors will join the investor base in a follow-up round. We expect to reach our target fund size of 200 million euros within the first six months of 2021.
As per the start of Quadrum Investment Fund III, four new investments are lined-up to enter into the portfolio. We have signed Letters of Intent for these pending acquisitions and are currently in the process of reaching completion.
With the launch of Quadrum Investment Fund III, 2020 is set to become another milestone year in the successful history of Quadrum. Since the beginning of the year, Quadrum realised a successful exit with the sale of VanWonen Holding to ActivumSG. In addition, Quadrum has acquired the number one social media agency in the Netherlands (Blauw Gras) and added the company to our digital agency platform (Born05), Bark Packaging has become part of our packaging group and CSN has been acquired to further strengthen our position within the IT domain.
In order to facilitate the strong growth of our fund, we have strengthened the investment team. Robert Faber (former manager at PwC) and Rob Tuinte (former associate at Main Capital Partners) will join the team as Investment Managers and with Tim Smeets (former analyst at ING Corporate Finance) and Dennis de Buijzer (former analyst at Waterland Private Equity) we managed to attract two experienced analysts. With these new professionals, we have a well-balanced team in place for the next growth phase of Quadrum Capital.
We look forward to further developing the partnership with our investors and stakeholders.
On behalf of the Board, Arjan Hoop, Peter Oostenenk, Rien Nagel