Karmijn Kapitaal
Karmijn Kapitaal is a Dutch private equity fund manager, founded in 2010 and headquartered in Amsterdam, that invests growth capital as an active long-term partner in Dutch SMEs with positive social impact and diverse management teams, with Fund III targeting €100M.
- Company typePrivate
- Founded2010
- HeadquartersAmsterdam, Netherlands
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Karmijn Kapitaal does
Karmijn Kapitaal is a Dutch private equity fund manager founded in 2010 by three women — Cilian Jansen Verplanke, Hadewych Cels, and Désirée van Boxtel — and headquartered at Koningin Wilhelminaplein 56 in Amsterdam. It is the first Dutch PE fund explicitly focused on diversity and inclusion, B Corp certified since September 2023, and positions itself as an active long-term partner to Dutch SMEs with positive social impact and diverse management teams. The firm invests growth capital in both minority and majority positions and supports portfolio companies with strategy, operational improvements, working-capital and risk management, acquisitions, and access to expert networks in marketing, e-commerce, retail, and finance.
Karmijn's core product is its investment funds — Fund I and Fund II combined were worth €135M and are fully invested, while Fund III targets €100M (maximum €120M) and is anchored by €15M commitments each from the European Investment Fund and Invest International. The active portfolio of 25+ Dutch SMEs spans childcare and talent development (UniKidz), sustainable tree management (InvesTree), elevator services (Elite Liften en Roltrappen, now part of UP), heritage digitization (Picturae), healthcare technology (Tover/Tovertafel), security services (Met WA Beveiliging, SecurityXpert, now combined in Curantis Veiligheidsgroep), IT and identification (BPI Services), art services (Business Art Service, Kunstveiling), fashion (King Louie), craft brewing (Jopenbier), and interior design (POLSPOTTEN).
The revenue model follows standard closed-end PE economics: management fees on committed/invested capital from institutional and other Limited Partners, plus carried interest on realized returns above the hurdle rate. Distribution is direct — Karmijn sources, evaluates, and executes bilateral investments in Dutch SMEs, using M&A advisors such as Oaklins and Marktlink on individual transactions. Recent strategic activity through 2024–2026 includes add-on acquisitions in healthcare security, international expansion support for portfolio companies, and successful exits such as Aquilum Groep to Colbe and UP to Orona.
Karmijn Kapitaal firmographics
Firmographics- Name
- Karmijn Kapitaal
- Legal name
- Karmijn Kapitaal
- Website
- https://karmijnkapitaal.nl
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Karmijn Kapitaal is a Dutch private equity fund manager, founded in 2010 and headquartered in Amsterdam, that invests growth capital as an active long-term partner in Dutch SMEs with positive social impact and diverse management teams, with Fund III targeting €100M.
- Ownership category
- akta.pro rank
Karmijn Kapitaal industry classification
Industry- Product category
- Private Equity Fund Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Multi-Sector / Generalist Growth Equity (FSANACAO)
- akta.pro secondary industry
- Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)
Keywords
Where Karmijn Kapitaal is headquartered
LocationHeadquarters
- HQ city
- Amsterdam
- HQ country
- Netherlands
- HQ region
- Europe
Offices1 record
Markets served
Karmijn Kapitaal business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Private Equity Fund Management: Karmijn Kapitaal raises capital from institutional and other investors (Limited Partners) into closed-end private equity funds, investing management fees on committed capital and generating carried interest on realized returns above the hurdle rate. The fund targets Dutch SME companies in minority and majority positions, seeking sustainable growth and value creation before exit.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Karmijn Kapitaal product offering
Product offeringCore offering
Karmijn Kapitaal operates a Dutch private equity fund (Funds I, II and III) that provides growth capital, management buyout/buy-in financing, and active long-term partnership to Dutch small and medium-sized enterprises (SMEs). The firm invests in both minority and majority positions and supports portfolio companies on strategy, operations, acquisitions, internationalization, and professionalization while targeting companies with diverse management teams and positive social impact.
Product overview
Karmijn Kapitaal is a Dutch private equity fund founded in 2010 by three women, operating as an active long-term investment partner for Dutch SMEs. The fund targets companies with diverse management teams and positive social impact, providing not only capital but also strategic support, operational improvements, acquisition assistance, and access to expert networks. The portfolio spans multiple sectors including childcare services (UniKidz), sustainable tree management (InvesTree), elevator services (Elite Liften), heritage digitization (Picturae), healthcare technology (Tover/Tovertafel), security services (Met WA, SecurityXpert), IT/identification solutions (BPI Services), art services (Business Art Service, Kunstveiling), fashion (King Louie), craft beverages (Jopenbier), and interior design (POLSPOTTEN). Fund III has a target size of €100 million with a maximum of €120 million, following fully-invested Funds I and II totaling €135 million.
Differentiator
Problem solved
Functional benefit
Products and services
- Karmijn Kapitaal Private Equity Fund (Funds I, II and III) A Dutch closed-end private equity fund providing growth capital, management buyout/buy-in financing and active long-term partnership to Dutch SMEs with diverse management teams and positive social impact. Raises capital from institutional Limited Partners and earns management fees plus carried interest.
- UniKidz Investment (majority stake acquired 2024-07-18) Private equity investment in UniKidz, a Dutch childcare and talent development organization operating 28 locations focused on developing children's and young adults' talents through sports, creativity, science, and skills programs.
- InvesTree Investment (majority stake acquired 2024-04-11) Private equity investment in InvesTree, a tree management and conservation company investing in sustainable tree management through tree inspections, growth research, and transplantability analysis.
- Tover (Tovertafel) Investment Private equity investment in Tover, developer of the Tovertafel (Magic Table), a serious games system using smart projectors for people with dementia and intellectual disabilities, deployed in over 5,000 care institutions across 16 countries.
- BPI Services Investment Private equity investment in BPI Services, an IT company specializing in identification applications and Smart Sensoring for Dutch government, National Police, border control, healthcare institutions, and corporate clients such as KPN, Kuehne+Nagel and Secure Logistics.
Quantifiable outcome
- B Corp certified — meeting the highest standards of social and sustainable impact
- +2 more outcomes
Companies that use Karmijn Kapitaal
Customer profileNamed customers12 records
Segments1 record
Ideal customer profiles1 record
Karmijn Kapitaal technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Karmijn Kapitaal partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered minor and core.
- OronaminorOrona, one of Europe's largest independent elevator companies, acquired UP B.V. (the group formed through Karmijn's investment in Elite Liften & Roltrappen and the subsequent add-on of Van Noort Liften). Karmijn exited its investment as part of this transaction.
- MarktlinkcoreMarktlink acted as the M&A advisor facilitating Karmijn Kapitaal's acquisition of SecurityXpert and the subsequent partnership with Met WA Beveiliging under Curantis Veiligheidsgroep. Marktlink supported SecurityXpert throughout the process from initial succession planning through to completion of the acquisition and partnership formation.
- Colbe: The Work Wellbeing NetworkminorKarmijn Kapitaal sold Aquilum Groep to Colbe (formerly Zorg van de Zaak). Karmijn had supported Aquilum since 2020 with a buy-and-build strategy that included seven strategic acquisitions. The sale represents Karmijn's exit from Aquilum, with the company now joining Colbe's work-wellbeing network.
- OaklinscoreOaklins served as the M&A advisor supporting Karmijn Kapitaal in the acquisition of a majority stake in UniKidz, a childcare and talent development organization. Oaklins facilitated the transaction to enable UniKidz's further expansion across the Netherlands.
- Svetlana Lalić (UniKidz Founder)coreUniKidz founder Svetlana Lalić and her management team continue to lead UniKidz alongside Karmijn Kapitaal as an active shareholder. The investment supports UniKidz's growth strategy and expansion across the Netherlands.
- Level20minorKarmijn Kapitaal team members, including Managing Partner Brigitte van der Maarel, are actively involved with Level20 — a non-profit organization dedicated to increasing the number of female investment professionals in private equity. Karmijn's founders are also actively committed to inclusivity and diversity outside of the firm.
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
Karmijn Kapitaal competitors and assessment
Company assessmentDirect peers
- Holland Capital: Amsterdam-headquartered private equity firm investing in Dutch SMEs across growth and management buy-out transactions. Directly comparable to Karmijn in fund size, deal focus, and lower mid-market positioning in the Netherlands.
- Quadrum Capital: Dutch mid-market private equity firm acquiring majority and minority stakes in profitable Dutch SMEs. Overlapping geography, ticket size, and active partnering model makes it one of the closest direct comparables to Karmijn.
- Nimbus Investments: Utrecht-based PE investor focused on Dutch SMEs with healthy growth ambitions. Comparable sub-scale Dutch lower mid-market strategy and active ownership approach.
- Egeria Private Equity: Amsterdam-based mid-market private equity firm investing in Dutch SMEs with a long-term value-creation orientation. Closely comparable on horizon, ticket size and Dutch SME focus.
- Avedon Capital Partners: Dutch mid-market private equity firm focused on active partnerships with Benelux SMEs. Comparable active ownership model and lower mid-market deal sizing to Karmijn.
- Mentha Capital: Dutch mid-market PE firm investing in Dutch SMEs with growth capital and buyout tickets. Comparable strategy of value-creation through operational support in the Netherlands.
- Bencis Capital Partners: Amsterdam-based PE firm investing in Dutch SMEs in growth and buy-out contexts. Long-term, partnership-oriented approach aligns directly with Karmijn's investment style.
Broad incumbents
- Gilde Equity Management: Larger and more established Dutch PE platform backing Benelux SMEs. Operates in the same lower mid-market space but with greater AUM, multiple funds, and broader sector coverage than Karmijn.
- Waterland Private Equity: Pan-European PE investor with significant Benelux activity in mid-market buy-and-build. Comparable buy-and-build value-creation playbook to Karmijn but at substantially larger scale.
Emerging players
- Triodos Investment Management: Impact-led Dutch investment manager with private equity and private debt strategies. Comparable focus on sustainability, social impact and B-Corp-aligned values in private markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Karmijn Kapitaal social profiles
Digital presenceKarmijn Kapitaal compliance and trust
Trust signalCompliance1 record
Karmijn Kapitaal financial estimates
Financial estimateRevenue estimate
Valuation estimate
Karmijn Kapitaal leadership team
Management profileNumber of profiles
Profiles7 records
Karmijn Kapitaal funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Karmijn Kapitaal M&A and investment
M&A and investmentM&A9 records
Investments5 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Karmijn Kapitaal
What does Karmijn Kapitaal do?
Karmijn Kapitaal operates a Dutch private equity fund (Funds I, II and III) that provides growth capital, management buyout/buy-in financing, and active long-term partnership to Dutch small and medium-sized enterprises (SMEs). The firm invests in both minority and majority positions and supports portfolio companies on strategy, operations, acquisitions, internationalization, and professionalization while targeting companies with diverse management teams and positive social impact.
Is Karmijn Kapitaal a public or private company?
Karmijn Kapitaal is a private company. It is classified as management employee owned and is currently operating.
When was Karmijn Kapitaal founded?
Karmijn Kapitaal was founded in 2010. It employs 11 to 50 people.
Where is Karmijn Kapitaal based?
Karmijn Kapitaal is headquartered in Amsterdam, Netherlands, in the Europe region.
How does Karmijn Kapitaal make money?
One revenue line is on record: private Equity Fund Management.
Who are Karmijn Kapitaal's main competitors?
Direct peers on record are Holland Capital, Quadrum Capital, Nimbus Investments, Egeria Private Equity, Avedon Capital Partners, Mentha Capital and Bencis Capital Partners. Broad incumbents are Gilde Equity Management and Waterland Private Equity. Triodos Investment Management is listed as an emerging player.
Does Karmijn Kapitaal have an API?
No public API is recorded for Karmijn Kapitaal.
What industry is Karmijn Kapitaal in?
Karmijn Kapitaal's product category is Private Equity Fund Management. Its primary akta.pro industry code is FSANACAO, Multi-Sector / Generalist Growth Equity, with a secondary code of FSAAALAG, Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure). Its NAICS code is 523940 and its SIC code is 6282.