Interview Freerk Smit

Diversity, in the broad sense, is something that fits me intrinsically"

Freerk Smit is a down-to-earth man from Groningen. The no-nonsense, open way of working and communicating at Karmijn immediately appealed to him when he started at Karmijn nine years ago. Freerk has been a partner at Karmijn since July 2021 and is part of the investment committee. He serves as CFO and, together with Cilian Jansen Verplanke, maintains contact with investors.

Freerk: "Diversity, in the broad sense, is something that fits me intrinsically. Early in my career, I became convinced that teams composed of diverse people with different viewpoints and ways of thinking solve problems better and often more efficiently. A key condition is that you give each other's diversity space and dare to acknowledge it – only then will it work to your advantage." Freerk and Niels Molewijk started at Karmijn at the same time when the team only consisted of the founders Cilian Jansen Verplanke, Hadewych Cels, and Désirée van Boxtel. Freerk explains how it went: "When Niels and I started at Karmijn, suddenly two men were added to the all-female team. That was something to get used to for both us and the founders. We brought our knowledge and experience to the table and started sharing our vision. In a broader team, trust had to be built and some things had to be let go of, but that went smoothly. Nine years later, the investment team has further expanded and changed, with Désirée stepping back and Brigitte van der Maarel becoming Managing Partner. It's good that everyone can contribute their knowledge and experience within our team, it makes us strong."

International Experience and Career

Freerk: "I started my career at Rembrandt F&O and then worked for Rabobank in Mozambique and for Heiploeg in both the Netherlands and India. I also studied in the United States before that. Due to the extended time and broad experiences in different countries, I feel like a global citizen. From the experience of working in Mozambique and India, where the needs are very basic, I gained a broad societal perspective and a sense of humility.

Entrepreneurship was something I was taught during my youth, at the kitchen table. As was my experience with Private Equity. In Mozambique, I worked for two years with a team on setting up a commercial bank, with Rabobank being one of the largest stakeholders. There wasn't really a playbook for that. There was a vision and strategy, but turning that strategy into reality was the big challenge. That's when the testing begins, mistakes are made, and adjustments are necessary. It was an interesting period, and I love that challenge in my work. Among other things, from my time at Heiploeg, I bring a lot of practical experience from an SME setting to my current work. This allows me to quickly assess the impact of a solution or decision on the company itself. Models are ultimately mostly theoretical; the decisions you make always have an impact on the workforce."

Inner Conscience

Colleagues call him "the inner conscience of Karmijn," a role that suits Freerk well. This refers to both his personality and the fact that, from his CFO and Investor Relations perspective, he sees all the deals coming through. Freerk oversees the big picture and, above all, is not afraid to ask critical questions. From this added value, he contributes to better deals, where the interests of various stakeholders are taken into account.

Freerk: "At Karmijn, we really look at the people and build strong relationships with entrepreneurs and management teams. Finding the balance between what serves us and what serves the other is not always easy and clear when you're close to it. From previous work experiences, I've learned to carefully consider everything in complex situations, take everyone's interests into account, weigh them, and then decide. I don't get nervous quickly from deadlines and can wait if that is better. I aim for the best choice based on everything we know."

Balance in the Team

Freerk: "I also watch over the interests of our investors and the agreements we've made with them. With new deals or decisions, I naturally take those considerations into account. Ultimately, they want to see a financial return. From my role, I observe with a helicopter view and ask myself: is this realistic, or is it an assumption? Is it worth it if we do this, do we want to do this, and is this the right moment? Within our team, with a diversity of qualities, experiences, and leadership styles, everyone has their own role."