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Sanoma Ventures: no more new investments

Sanoma Ventures has come to an end. The fund lasted more than three years, in which Sanoma invested in 18 startups, most of them Dutch and some of them Finnish. Now the board of the corporate has decided to stop investing again.

Fund manager Antoine Hendrikx “doesn’t necessarily have to repel the portfolio companies directly”, Emerce wrote.

Sanoma Ventures made some notable investments in Dutch startups like Peerby, Springest, Fosbury, VirtuaGym, Scoupy and SendCloud. In terms of success, the startups funded by Sanoma did so so. Fosbury got acquired, Springest does just fine and Scoupy was heavily plugged.

On the other hand, we still have to see if Peerby has a fruitful business model and the plug was pulled from ‘Netflix competitor’ WappZapp.

It remains unclear why Sanoma Ventures decided to stop investing in startups. But luckily, Emerce wrote: “the investments don’t have to be cashed quickly.”

Blow to corporates

Still, the news is another blow for corporates working with innovation and startups. Prior, Sanoma had to kill their Innovation Lab due to a reorganization and their intrapreneur startup Hubly failed to generate traction.

Also, another Dutch corporate, TMG, had to end their incubator TMG Startups after just one year, mainly due to a cultural misfit.

Image by Aaron Muszalski

Lorenz van Gool
Lorenz is co-editor-in-chief of StartupJuncture. As a freelance editor and journalist, he writes about startups, innovation and (e)-business. Loves to report from conferences. Really likes cleantech and journalism startups. You can ask him anything about dinosaurs. Twitter: @lorenzroman
  1. Sieuwert van Otterloo says:

    I am not sure I would call the performance of Sanoma Ventures ‘so so’. They only need one hit to make a return on investment so if Springest or one of the others break through, they could be back on track. Also what most media and corporates do not realise is that a venture fund has three main activities: buying – running/growing -selling. The fact that they stopped buying does not mean that they are out of business.

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