By the end of 2024 DOEN Ventures portfolio contained 68 businesses and funds, including start-ups and more mature companies. The team made two new investments and 13 follow-on investments during the year. Despite adverse economic forces, we continued to work to make an impact in the areas of sustainability and social inclusion. Thanks to our close ties with the Nationale Postcode Loterij, the VriendenLoterij and other financiers, we remain a pioneering supporter of sustainable innovation while at the same time exploring new opportunities.
A challenging year
DOEN Ventures’ 68 partners in 2024 included start-ups such as Bakers & Bananas and companies that had been around for a while, like Fairphone and Seepje. It was not an easy year: rising inflation and high interest rates meant many businesses struggled to raise funding. Consumers also proved less willing to pay more for sustainable products, and the circular transition came under pressure owing to a lack of clear political policies. Despite these challenges, we made two new investments: in SeaO2, which extracts carbon from the ocean, and the sustainable wholesaler InstockMarket. We also provided follow-on funding to 13 existing partners, including LeydenJar, Chocolatemakers, LocalTea and United Repair Centre.
Investing in impactful businesses
DOEN Ventures supports socially driven companies. A good example is Oscar Circulair, which aims to make cities waste-free. The company picks up valuable discarded materials using electric transport, processes them sustainably, and creates jobs for people who face difficulties finding work. Another example is Land Life, which works on large-scale landscape recovery projects. The organisation aims to make companies that harm nature pay for biodiversity restoration.
Lottery partnerships
One of DOEN Ventures’ major successes in 2024 was the strengthening of its cooperation with the Nationale Postcode Loterij and VriendenLoterij. This led to even more DOEN partners’ products being included in the lotteries’ prize packages. We also launched the Fair Future Challenge to actively seek out pioneers offering sustainable consumer products and services. The competition generates publicity for potentially impactful businesses while encouraging consumers to make more sustainable choices.
An important development in our investment strategy in 2024 was a shift towards the countries where the Postcode Lottery Group operates. This enables us to invest jointly with the lotteries, increasing our impact. We’re now focusing less on pioneers in East Africa and India, although we continue to manage our existing portfolio funds there.
Plans for 2025
In 2024, DOEN Ventures researched opportunities in the coffee and cosmetics markets. We also conducted a feasibility study for a creative and cultural impact fund to see how impact investing could be used to fund sustainable revenue models in the creative sector. In 2025, we’ll continue to make targeted investments and work even more closely with the lotteries in our ongoing efforts to build a sustainable, socially inclusive economy.
Back to the 2024 Annual Report