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NIB Capital Private Equity NV
NIB Ventures Program Description
NIB Capital Private Equity (NIB) is a Dutch investment firm that exclusively manages the private equity and venture capital allocations of Stichting Pensioenfonds ABP and Pensioenfonds PGGM, the two largest Dutch pension funds, with about €148 billion and €49 billion in retirement funds, respectively. Operating out of offices in Amsterdam, Antwerp, Frankfurt, London and New York, the NIB Capital Private Equity program totals approximately €11.5 billion.
GSA was selected in September, 2002, to manage a program for NIB with a mandate of providing early access to the next generation of potential blue-chip US and Canadian venture capital funds. The program was formed as a $100 million discretionary fund-of-funds which GSA expects to deploy over approximately one year in 10-12 funds.
Under the program, Grove Street's role is to seed relationships with new and emerging venture groups at $5 million to $15 million each. As these teams develop, Grove Street will facilitate relationship building between the fund manager and NIB. When these teams return to market for their next fund, NIB will have the option of transferring the most promising relationships into the NIB core portfolio.
NIB's U.S. unit, based in New York, will continue to directly manage investments in buyout funds, mezzanine funds, and established, top-tier venture funds. In this core program NIB typically invests between €25 million and €75 million in early-stage VC funds and between €25 million and €150 million in buyout funds and between €20 million and €50 million in mezzanine funds.
Investment Criteria for the NIB Program
- Program's mandate covers new and emerging US venture capital teams
- It is expected that the program will invest in 10 - 12 funds
- Commitments range from $5 to $15 million
For more information about NIB: http://www.nibcapital.com/
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