Rubio Impact Ventures, an Amsterdam-based impact venture capital firm, has closed over €70 million in commitments for its third impact fund, backed by the European Investment Fund (EIF), Invest-NL, Oost NL, Brabantse Ontwikkelings Maatschappij, ING, and the NN Social Innovation Fund.
The Dutch government’s RVO agency has also provided support through an innovation loan under its Seed Capital scheme. The fund aims to invest in approximately 30 companies addressing pressing climate and social challenges, thereby increasing Rubio’s total managed assets to €220 million.
Machtelt Groothuis, co-founder of Rubio, said, “In an era of accelerating climate change and social challenges, the most valuable companies of the future are the ones building real solutions for global problems. The launch of our third fund reflects that the impact investing model is recognised, the opportunity is clear, and the urgency has never been greater.”
Backing “champions of change”
Rubio was co-founded by Machtelt Groothuis and Willemijn Verloop, who bring together backgrounds and a shared determination to link financial return with positive social impact. The firm’s vision is centred on identifying and supporting “champions of change”: entrepreneurs developing scalable solutions to humanity’s most urgent problems while delivering compelling financial returns.
The fund focuses its investments around three core strategic themes: circular economy, people power, and healthy systems.
Portfolio companies highlight this breadth: Sympower uses smart peak-shaving technology to enhance grid flexibility and reduce reliance on fossil fuels; NoPalm Ingredients develops circular palm oil alternatives that support rainforest conservation; and Olio offers a platform for sharing surplus food digitally. Renewaball, another portfolio company, innovates to reduce the environmental footprint of sports equipment, exemplifying Rubio’s diverse approach to impact.
Rubio distinguishes itself with an impact measurement framework and governance structure developed in partnership with the European Investment Fund. Rubio’s first fund exceeded its impact targets by 117% while delivering competitive financial returns.
For instance, Sama surpassed its impact goals by 400%, accompanied by a 630% increase in enterprise value, whereas Sympower saved over 300,000 tons of CO2 while its enterprise value grew by 780%.
What’s next?
Looking forward, Rubio intends to expand this impact investment model across Europe, balancing returns and impact over a portfolio now exceeding 40 companies. The firm emphasises collaboration with mainstream venture capital partners to deepen sector expertise and geographic reach, while sharing insights to nurture the impact investing ecosystem.
By 2030, Rubio wants to position impact investing as a mainstream asset class, with plans to ensure impact commitments continue post-exit and require acquirers of portfolio companies to honour these goals.
