Karmijn Kapitaal, the Dutch PE fund investing in firms with diverse management teams and those open to diversifying, has received B Corp certification. With this certification, Karmijn Kapitaal is now part of a global community of companies that meet the highest standards of social and sustainable impact. "We are super proud that we are now B Corp-certified," says managing partner Brigitte van der Maarel. "This shows what we do and what we stand for in our industry. It's a nice cherry on top of our Karmijn ESG cake."
To obtain B Corp certification, various aspects of companies are analyzed and assessed, such as strategy and operations. Karmijn Kapitaal focuses on its role as a shareholder in dealing with portfolio companies. For Karmijn, it is natural to always put people at the center of its activities says van der Maarel: "Being people-centered means taking into account the joint shareholders, management and staff, and in a broader sense society. We always look with a broad stakeholder view, which is one of the reasons why we attach such great importance to diversity in teams, both in terms of gender and regarding leadership styles. We seek balance and look at what it takes to execute a portfolio company's growth plan and strategy. Diversity creates a perspective from various angles, resulting in more balanced and better decision-making."
Fuel for ambition
The certification process is intense, consisting of questions, steps, and verifications, which opens companies up to a fresh look inward. Recertification follows in three years, time Van der Maarel views as an extra incentive not to sit back: "Recertification is nice for us because it fuels our ambition to keep improving. So we score very well on inclusive culture, but also want to achieve the maximum possible on other aspects. What the B Corp certification indicates very nicely is where you are now and in which areas you can grow even further and create an even better company."
Helping entrepreneurs move forward
Helping entrepreneurs with a great idea and wonderful business move forward through value creation is what Karmijn Kapitaal aims to do. Recently, Karmijn announced a new closing of its third fund, which will be up to €120 million. The first two funds, accounting for €135 million, were fully invested in successful Dutch SMEs such as Aquilum, Haarlem-based Jopenbier and healthcare delivery group JOYinCARE. Karmijn focuses exclusively on management buyouts and growth capital, with enterprise values ranging between €10 million and €50 million.