365 Capital Fund I closes at €165m exceeding target of €150m – Press release
Today, 365 Capital Management, a new Netherlands focused lower mid-market private equity firm, announces the final close of its debut fund, 365 Capital Fund I with commitments of €165m.
365 Capital Fund I is a generalist fund that aims to acquire platform companies which are active in attractive markets, subsequently driving growth and margin improvement through a combination of buy-and-builds and organic growth investments.
The team employs a dual sourcing strategy: ‘bottom-up sourcing’ in selected parts of the value chain of selected markets (incl. but not limited to Horticulture and Education), and ‘intermediary and network based’ whereby the team takes advantage of its network, reputation, relationships, and track-record. 365 Capital is focused on proprietary deals as well as (limited) auction processes run by intermediaries. The team takes an institutional and analytically rigorous approach to sourcing, diligence, and value creation. Active portfolio company support is central to its approach.
The team started fundraising with a first close in September 2020 at €72m. At the start of the fund, 365 Capital invested in two companies: post-graduate education platform business Academica Lifelong Learning (sourced through ‘bottom-up sourcing’) and sleep specialist Swiss Sense (sourced through ‘intermediary and network-based sourcing’).
365 Capital is backed by a range of family offices, multi family offices, foundations, and high net worth individuals across Europe. Within 6.5 months after its first close the fund marked its final close at €165m, well above its initial target of €150m. The fund targets circa 8 portfolio companies with total equity tickets in the €10-30m range per company over the ownership period.
365 Capital was founded by Boudewijn Molenaar, Steven Albers, Hayo van Houten and Reinaert Molenaar in September 2019 forming a complementary, experienced, and ambitious Dutch team based in Amsterdam. The team is supported by its Advisory Board consisting of Robert Thole and Derk Haank. The first additions were made to further strengthen the team in Q1 2021, and we envisage to add additional team members in 2021 to arrive at 8 people in total by the end of the year.
The team is advised by legal advisor Jack Berk at Cleber Advocaten in connection with establishing 365 Capital and the fundraising process for 365 Capital Fund I.
For further information, contact:
365 Capital (contact@365capital.com)