Rubio Impact Ventures

Every investment firm is unique—and so is its impact journey. In the spirit of B Corp Month, HPE Growth asked fellow investors how they are using business as a force for good. One of them is our very own Alexandros Matthiessen. In the interview, Alex explains why real impact investing requires more than ESG compliance—for us, it’s about setting ambitious, measurable impact goals that drive systemic change. Intentional & measurable impact is at the core of everything we do. We work closely with portfolio companies to set impact targets 𝘁𝗵𝗮𝘁 𝗴𝗼 𝗯𝗲𝘆𝗼𝗻𝗱 traditional ESG metrics, driving deeper, long-lasting results. B Corp is a strong ESG framework that helps us measure progress and align actions on important ESG topics. For us, this is strong external validation that we have our own house in order 🙂 Alongside Alex, Semmy Tissen (Somerset Capital Partners), Brigitte van der Maarel (Karmijn Kapitaal), and Ayoni Guda (HPE Growth) also shared their B Corp perspectives. Curious to hear more from Alex and the other interviewees? Check out the full piece below.👇

𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝗿𝗲𝗮𝗹 𝗶𝗺𝗽𝗮𝗰𝘁 𝗹𝗼𝗼𝗸 𝗹𝗶𝗸𝗲 𝗯𝗲𝗵𝗶𝗻𝗱 𝘁𝗵𝗲 𝘀𝗰𝗲𝗻𝗲𝘀? 👀 Our latest Impact Report shares it all, revealing the impact metrics that drive our investment decisions. Take tiney, our portfolio partner, which is revolutionizing childcare. Their mission is to ensure every child, regardless of background, has access to affordable, high-quality early education, while also creating sustainable career opportunities for a diverse group of childcare entrepreneurs. Together with Tiney, we have chosen to track multiple targets to measure output, outcome & impact: 💚 Number of people educated & empowered to run a childcare business via Tiney. 💚 Number of children provided with quality childcare through Tiney. Exactly one year ago we started investing in Tiney, so it's still early days for initial results, but they have already empowered 600 childminders and delivered quality early education to over 7,000 children, enabling parents—especially mothers—to return to or remain in the workforce. Discover how Tiney is reshaping early education—and explore the methodology behind our impact approach. You’ll find the link to the impact case in the first comment ⤵️ #impact #impactinvesting #vc #case #transparency #impactreport

It’s B Corp Month. For us, this is a time to reflect on progress—not to show off a badge 🥇. Because being a B Corp isn’t about the certification itself—it’s about constantly raising the bar. So we did what we always do: keep improving. This year, we leveled up—recertifying & boosting our B Corp score by 5%. 🍄🍄🍄 No shortcuts, no cheat codes—just one way to play: keep challenging ourselves, keep improving, and keep proving that business can be a force for good. Next level? Still loading… but we’re on it. 🚀 #Impact #ImpactInvesting #VC #BCorp #LevelUp

🚀 Big things are happening in our portfolio! Vytal Global has secured another €8 million, bringing their total growth funding to €14.2 million over the last 6 months. ♻️ Vytal is proving that reuse beats single-use—not just for the planet, but also in cost and convenience. In the past year alone, their tech-driven packaging system has powered 7,000+ partners across 17 countries, revenue has more than doubled 📈, and they’ve expanded into large-scale events—from UEFA Euro 2024 Fanzones to major entertainment and sports partnerships. And with new franchise partners in Albania, Greece, the UAE, and South Africa, and fresh capital to scale in Europe and the US, Vytal is taking circular packaging mainstream. As long-time investors, we’re excited to continue supporting Vytal on this journey. With Inven Capital and NRW Ventures now joining Emerald Technology Ventures, GRAZIA EQUITY, Kiko Ventures, Rubio and Chi Impact Capital, Vytal is ready for the next growth leap. Big congratulations to Dr. Tim Breker, Fabian Barthel, Josephine Kreische, and the entire Vytal team—your impact is unstoppable! 🚀 #impact #impactinvesting #vc #circulareconomy #sustainability

𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗪𝗼𝗺𝗲𝗻’𝘀 𝗗𝗮𝘆 𝗶𝘀 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝗷𝘂𝘀𝘁 𝗮 𝗱𝗮𝘁𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗰𝗮𝗹𝗲𝗻𝗱𝗮𝗿—𝗶𝘁’𝘀 𝗮 𝗽𝗼𝘄𝗲𝗿𝗳𝘂𝗹 𝗿𝗲𝗺𝗶𝗻𝗱𝗲𝗿 ✨𝘁𝗵𝗮𝘁 𝘄𝗵𝗲𝗻 𝘄𝗼𝗺𝗲𝗻 𝘀𝘂𝗰𝗰𝗲𝗲𝗱, 𝗲𝗻𝘁𝗶𝗿𝗲 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗳𝗹𝗼𝘂𝗿𝗶𝘀𝗵. At Rubio, we proudly partner with impact entrepreneurs who make a tangible difference in women’s lives every single day. From nurturing childcare and life-saving healthcare solutions to sustainable agriculture and financial empowerment, these four stories show that true transformation happens when women have the support, resources, and freedom to shape their futures: 𝗙𝗮𝘆𝗲 (tiney) After 17 years in the classroom, Faye yearned for a more child-led approach. With Tiney’s guidance, she built a warm, curious environment where children truly explore—proving that sometimes the bravest step is to start anew. 𝗟𝗼𝗲𝘀 (SkinVision) Loes, 22, noticed a suspicious mole but hesitated to seek help—until the SkinVision app flagged a potential risk. One quick photo and a timely follow-up led to life-saving care, showing how technology can empower us to take charge of our health. 𝗖𝗮𝗿𝗼𝗹𝗶𝗻𝗮 (Wakuli) For years, Carolina struggled to earn a fair price for her coffee beans. Through Wakuli, she now accesses a direct market and stable income, reinvesting in her family farm. One cup at a time, she’s driving sustainable growth in her community. 𝗔𝗻𝗮 (Female Invest) As a single mother, Ana once felt investing was out of reach. Thanks to Female Invest’s practical lessons and supportive community, she built up her savings—and her confidence. Now, she’s charting her own financial path and inspiring others to follow suit. These are just a few examples of what’s possible when women have the right tools and support. Let’s keep celebrating—and championing—them well beyond International Women’s Day. ❤️ We also want to recognize the entrepreneurs, investors, mentors, and advisors who drive real change behind the scenes—like Camilla Cloëtta Falkenberg, Anna-Sophie Hartvigsen, Emma Due Bitz, Hélène Hoogeboom, Anna Chojnacka, Shireen Davies, Wendy Gonzalez, Josephine Kreische, Tessa Clarke 💚, Saasha Celestial-One, Lisa Hehenberger, Heleen Dura - van Oord, Astrid De Reuver, Jolanda Degen, and the unstoppable women on the Rubio team: Ilonka Jankovich, Machtelt Groothuis, Kirstin Valkonet, Talita Ferguson, Eline de Haan, Tamara Obradov and Willemijn Verloop. #impact #impactinvesting #vc #InternationalWomensDay #WomenEmpowerment

Two years ago, Alexandros Matthiessen joined Rubio as Finance Director. As of this year, he’s officially our CFO—leading our finance and impact strategy & reporting. 🚀 With >13 years in finance at ao HSBC & EY, Alex has built a career on making numbers work. At Rubio, that means ensuring impact investing is as rigorous as traditional finance—because scaling solutions for a better world starts with knowing how to measure both returns and real change. And managing & reporting on impact is one of the domains where Alex excels as can be seen in our recently released Impact Report (link in the comments). 💪 As Alex puts it: “The global challenges in energy, food, agriculture, and health present unprecedented market opportunities. We back entrepreneurs who can deliver both measurable impact and strong financial returns. Their innovations will drive the sustainable transition our world needs.” From structuring investments to making sure our portfolio companies have the financial foundations to scale, Alex keeps everything on track—both in euros and in impact. His work ensures that financial strategy and impact goals go hand in hand, aligning capital with long-term value creation. And when he’s not deep in spreadsheets, he’s out chasing the wind (literally) as a dedicated kitesurfer. Call it CFO, call it Chief Value Officer—either way, we wouldn’t want to do this without him. ❤️

This morning, the Rubio headquarters was filled with energy as we hosted a dynamic Investor & Founder Breakfast alongside Brighteye Ventures, DFF Ventures (Dutch Founders Fund), Dutch Edtech, Endeit Capital, Peak, and No Such Ventures. Together, we brought a vibrant group of entrepreneurs and investors shaping the future of learning and work. ☕🚀 🎤 The event opened with inspiring remarks from Ilonka Jankovich (Rubio), who reminded us that, despite many challenges, there is a lot of positive momentum in Europe. From meaningful change to people uniting with purpose, the energy was undeniable—and it set the tone for some truly engaging discussions throughout the morning. 🎤 First up was the founder panel, featuring Marieke van Iperen (Settly), André Haardt (Chapter), and Eugene Lubbers (Prets), led by Ata Şenkon (Rubio). They shared how AI is making their industries more cost-efficient. By accelerating global mobility, consumer empowerment, and the energy transition, their startups are driving a more sustainable and inclusive future. 🎤 The investor panel—featuring Maarten Engelen (DFF), Tea Elezi (Peak), and David Guérin (Brighteye)—was moderated by Jitske van Os (Dutch Edtech). They zoomed in on what makes a startup stand out. Beyond traction, deep market insight and mission-driven execution are essential. Founders who truly understand their problem space and have the drive to solve it are the ones investors want to back. And just as investors assess startups, founders should do their homework too—finding the right investor fit is crucial to long-term success. With so many valuable insights shared, one thing is clear: the future of learning & work is full of opportunity. Whether you’re an investor looking to support impactful businesses or a founder building the next breakthrough, this space is evolving rapidly—and collaboration is key. If you’re working on something exciting in this space, let’s connect! 👇 #impact #impactinvesting #HRTech #HR #VC #AI #EdTech

“𝙄 𝙠𝙣𝙤𝙬 𝙬𝙚’𝙧𝙚 𝙖 𝙗𝙞𝙜 𝙛𝙞𝙨𝙝, 𝙨𝙤 𝙞𝙩’𝙨 𝙤𝙣 𝙪𝙨 𝙣𝙤𝙩 𝙩𝙤 𝙨𝙘𝙖𝙧𝙚 𝙤𝙩𝙝𝙚𝙧𝙨 𝙤𝙪𝙩 𝙤𝙛 𝙩𝙝𝙚 𝙬𝙖𝙩𝙚𝙧.” 🐋 It’s a refreshingly frank way for Invest-NL CEO, Rinke Zonneveld, to describe the role of major public financiers in today’s impact ecosystem. In our latest ‘Follow the Impact’ interview, Rubio Founding Partner, Machtelt Groothuis and Rinke share how synergy, friction and a sharp focus on both climate and social impact are redefining what venture capital can (and should) achieve. From embracing tension and tackling “crazy” valuations to proving that long-term public capital needn’t be slow or bureaucratic, this candid conversation sheds light on public-private collaboration, Europe’s climate-tech focus (and why social impact can’t be left behind), and the power of measuring what truly matters. Read the full interview (link in the first comment ⤵️) to see how Invest-NL and Rubio collaborate—and sometimes challenge each other—to broaden the scope of impact investing and drive meaningful change. #impactinvesting #impact #vc #interview #followtheimpact

Next week, on March 5, we’re co-hosting the Founders & Investors Breakfast at the Rubio headquarters in Amsterdam! 🥐☕ Together with Brighteye Ventures, DFF Ventures (Dutch Founders Fund), Dutch Edtech, Endeit Capital, Peak, and No Such Ventures, we’re bringing together HRTech founders & investors for a morning of sharp insights, meaningful connections, and—of course—great coffee. Kicking things off, Ilonka Jankovich (Rubio) will open the session, setting the stage for discussions on the State of the VC markets, AI (obviously!), Green Skills, and what it really takes to scale and succeed in 2025. 🎤 Investor perspectives: Maarten Engelen (DFF Ventures), Tea Elezi (Peak) & Benoit Wirz (Brighteye) will share what they look for (and what they don’t!) when investing in training, placement, and productivity solutions. 🎤 Founder insights: Marieke van Iperen (Co-founder and CEO Settly), André Haardt (Chapter) & Eugene Lubbers (Prets) will bring real-world lessons from the frontlines of Just Transition—with Ata Şenkon (Rubio) facilitating the discussion. One small detail… 🫣 We have limited capacity, but drop a comment and we'll see what we can do! #impact #impactinvesting #HRTech #HR #VC #AI

Looking at all the reported impact metrics, you might think we are solving the world’s biggest challenges overnight. But as we all know, reality tells a different story. The vast majority of impact funds attribute 100% of a portfolio company's impact, an approach that results in inflated impact figures and an overly optimistic view of progress toward global goals like net zero and the SDGs. We decided we needed to be more transparent about our real attribution (𝗮𝘁𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻 𝗿𝗲𝗳𝗹𝗲𝗰𝘁𝘀 𝘁𝗵𝗲 𝗽𝗼𝗿𝘁𝗶𝗼𝗻 𝗼𝗳 𝗶𝗺𝗽𝗮𝗰𝘁 𝗹𝗶𝗻𝗸𝗲𝗱 𝘁𝗼 𝗼𝘂𝗿 𝗿𝗼𝗹𝗲 𝗮𝘀 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀) as we believe attribution can improve transparency and accountability, it validates additionality, and it guides resources toward the most impactful interventions, moreover it can foster trust through credible reporting. 𝗦𝗼, 𝘄𝗲 𝘀𝗲𝘁 𝗼𝘂𝗿𝘀𝗲𝗹𝘃𝗲𝘀 𝘁𝗵𝗲 𝘁𝗮𝘀𝗸 𝘁𝗼 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝗸𝗲𝘆 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀: 𝘄𝗵𝗮𝘁 𝗮𝗿𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝗺𝗲𝘁𝗵𝗼𝗱𝘀 𝗳𝗼𝗿 𝗺𝗲𝗮𝘀𝘂𝗿𝗶𝗻𝗴 𝗮𝘁𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻? 𝗔𝗻𝗱 𝗵𝗼𝘄 𝗱𝗼 𝘁𝗵𝗲𝘆 𝗿𝗲𝗳𝗹𝗲𝗰𝘁 𝗲𝗮𝗿𝗹𝘆-𝘀𝘁𝗮𝗴𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀’ 𝗰𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀?  The results can be found in this article for Impact-Investor.com, where our Founding Partner Willemijn Verloop and Lisa Hehenberger (Professor at the Esade Centre for Social Impact & Impact Advisory Board Member since 2019 of Rubio). Rubio has started to report on attribution- prorated on equity in our recently released Impact Report 2024. This is a practical first step, because it only shows part of our attribution, but it's implementable today. We believe it's crucial to recognize this as an interim solution while the field works toward better ways to also measure and incorporate non-financial contributions. But until such methods are developed and standardized, impact investors should be transparent about both the contribution of their financial investment and their non-financial support while acknowledging the limitations of current attribution methods. However opinions on the subject of attribution are diverging, so please let us know your thoughts on our findings via the comments! Read the full column in the first comment 👇 And a special shoutout & thanks to Christine van Tuyll van Serooskerken who did most of the heavy lifting on the research into this topic! #impact #impactinvesting #attribution #transparency