A new year starts with energy and ambition — and it’s the perfect moment to reflect on what we have built together. For Value Factory, the past year was defined by focus, growth and further professionalisation. We strengthened our foundation in AgriTech and FoodTech and sharpened our ClimateTech focus, with additional attention for sustainable building innovations. We also realised exits and generated solid returns. With a strengthened team, we are now even better positioned to support founders with focus and accelerate impact.
A sharper investment strategy: AgriTech & biobased innovation reinforce each other
In 2025, we further refined our strategy with a clear focus on the intersection of AgriTech and sustainable, biobased innovation. These domains are inherently connected — a key insight reinforced through our investments in Dealin.Green and FC-I. Agriculture produces the raw materials needed for biobased building materials, which the construction sector urgently needs. The built environment faces major challenges, from sustainability to affordability, and biobased materials are an essential part of the solution. By connecting these markets, we unlock an economic opportunity while creating meaningful societal impact.
More and better dealflow
We also saw clear progress at the front end of the fund. Over the past year, we assessed a large number of leads — significantly more than in previous years — and the quality clearly improved. Propositions increasingly matched our focus and the profile where Value Factory adds value. At the same time, we further strengthened our due diligence process, with additional attention to teams through our Founder DNA-scan. And with a structured methodology to zoom in on technology, financials and commercial viability, we can assess even more sharply whether a startup has strong potential.
Progress within the portfolio
We continued expanding our portfolio and made new investments in, among others, FuelFWD, Cano-ela, ThuysVers and Struck. We also reinvested in Proba, Corvus, FC-I, and Growficient to prepare them for the next phase. At the same time, we had to say goodbye to one portfolio company — a painful but unavoidable reality in venture capital, where learning and sharpening are part of building a strong fund.
Several companies made important progress this year in product development, market validation and commercial traction — supported by focused input from our Value Makers. From strategy and fundraising to financial control and commercial strategy, we help founders move faster and make better decisions. We also mapped the SDG contributions of all our ventures, further embedding our impact vision into fund policy.
Exits and returns
This year, we also achieved a successful exit from an early investment that no longer matched our investment focus. In addition, investors received the first returns from our biobased investments — an important confirmation that financial value and sustainable impact can reinforce each other.
SPV / deal-by-deal structure
2025 was also the year we introduced our new SPV (special purpose vehicle), or deal-by-deal structure. This enables investors to participate in specific opportunities alongside the fund. Healthy Fridge was our first SPV investment and marks an important step in expanding our investment capabilities.
Team and organisation
Within the team, several changes took place as well. We said goodbye to our legal student team members Hadassa and Maarten, who made a valuable contribution. At Value Factory, they were given the opportunity to gain practical experience and develop further before moving on to the next step in their careers.
In the meantime, we welcomed Babette and Eva as new legal student team members. Sander joined at the start of 2025; he takes on CFO roles within our portfolio companies and also supports the fund. Lastly, Jolanda Ravenek joined early last year as Managing Partner.
