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Capital Mills is an entrepreneur-led growth capital firm founded in 2015 and based in Gorinchem, the Netherlands. The firm focuses on providing funding solutions to ambitious scale-ups, particularly in the software sector. Capital Mills supports companies through various stages of growth by offering both equity investments and non-dilutive funding options, making them a unique player in the European tech landscape.
As of now, Capital Mills manages over €50 million in assets across a portfolio of more than 20 companies. The firm primarily invests in late seed and Series A stages, targeting tech-enabled growth companies in Europe. Their office in Gorinchem serves as the central hub for operations, and they have built a strong base of 60 experienced entrepreneurial investors as limited partners.
Since its inception, Capital Mills has established itself as a key player in the funding ecosystem for software startups, focusing on companies with predictable revenue streams and significant growth potential. Their dual-path funding approach allows them to cater to a diverse range of financing needs, further solidifying their reputation in the market.
Capital Mills invests in European tech-enabled growth companies, particularly in the software sector. Their investment strategy includes flexible funding options such as debt funding and equity investments, with check sizes ranging from €500,000 to €2,500,000 for equity and up to €1,250,000 for revenue-based financing. They also provide loans ranging from €250,000 to €2,500,000 based on future cash flow.
The firm specifically targets companies with predictable monthly revenue, such as subscription or license models, that have a minimum of €75,000 in monthly recurring revenue or gross margin. Additionally, they seek firms that demonstrate significant year-on-year growth, with a target growth rate of over 20%. This focus on predictable revenue streams and substantial growth potential positions Capital Mills as a preferred partner for ambitious software startups in Europe.
Capital Mills has a diverse portfolio of over 20 fast-growing software startups across Europe. Notable companies in their portfolio include:
These companies represent a mix of innovative solutions in the SaaS and fintech sectors, showcasing Capital Mills' commitment to supporting high-growth potential startups. The firm has not publicly confirmed any exits from its portfolio, but its active investment strategy continues to expand its influence in the European tech market.
Erwin van der Veen - Partner. Erwin has extensive experience in venture capital and has been instrumental in shaping the investment strategy at Capital Mills.
René Delsing - Partner. René brings a wealth of knowledge in the software sector, having worked with various startups and scale-ups prior to joining Capital Mills.
Gijs den Hartog - Founder & Partner. Gijs is an active speaker at industry events and has played a key role in developing the revenue-based financing model at Capital Mills.
Barry de Kock - Managing Partner. Barry oversees the firm's operations and investment strategies, ensuring alignment with the firm's goals.
Lise van Mourik - Investment Associate - Controller. Lise supports the investment team with financial analysis and portfolio management.
To pitch Capital Mills, founders should use the preferred channel available on their website at capitalmills.nl/en/invest/. The pitch deck should include detailed information about the business model, market opportunity, financial projections, and the specific funding needs. Capital Mills appreciates concise and well-structured presentations.
Response times can vary, but founders can expect to hear back within a few weeks after submission. Warm introductions are beneficial but not mandatory.
In December 2024, Capital Mills welcomed two new partners to the firm, expanding its leadership team. This move is expected to enhance the firm's investment capabilities and broaden its reach in the European market.
Capital Mills is actively deploying its latest revenue-based financing fund, Fortibus 7, which targets B2B software companies. The fund aims to invest in over 15 companies within the next 12-24 months, with initial investments already made in notable startups such as Drimpy, GladCloud, and PressPage.
Since 2019, Capital Mills has closed 12 revenue-based financing investments totaling approximately €4 million across its prior Fortibus funds, demonstrating its commitment to supporting high-growth software startups.
What are Capital Mills' investment criteria?
Capital Mills invests in European tech-enabled growth companies, particularly in the software sector. They focus on firms with predictable monthly revenue, a minimum of €75,000 in monthly recurring revenue, and a year-on-year growth rate exceeding 20%.
How can startups apply or pitch to Capital Mills?
Startups can pitch to Capital Mills through their website at capitalmills.nl/en/invest/. They encourage founders to provide detailed information about their business model, growth metrics, and funding needs.
What makes Capital Mills different from other investors?
Capital Mills offers a dual-path funding approach, providing both equity investments and revenue-based financing. This flexibility allows startups to choose the best financing option for their growth stage, which is not commonly offered by many venture capital firms.
What is the geographic scope of Capital Mills' investments?
The firm primarily invests in tech-enabled growth companies located in Europe, with a specific focus on the Netherlands, Belgium, Germany, and Ireland.
What is the typical check size for investments?
Capital Mills typically invests between €500,000 and €2,500,000 for equity investments. For revenue-based financing, they provide loans ranging from €250,000 to €1,250,000 based on future cash flow.
What kind of post-investment involvement does Capital Mills have?
Capital Mills adds value to its portfolio companies by providing strategic guidance and access to a network of experienced entrepreneurial investors. They are actively involved in supporting their portfolio companies through various growth stages.
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