KLM and Schiphol have backed a second Mainport Innovation Fund, alongside Delft University of Technology, Port of Amsterdam and NS Dutch Railways.
Airline operator KLM, airport company Schiphol Group and rail network manager NS Dutch Railways have committed capital to the €18m ($20m) Mainport Innovation Fund II (MIF II).
The fund is also backed by Delft University of Technology and Port of Amsterdam. Part of the $20m was provided by the Netherlands Ministry of Economic Affairs’ Seed Capital initiative.
MIF II is the successor to Mainport Innovation Fund, the limited partners of which included KLM, Schiphol, Delft University and financial services provider Rabobank.
The fund will focus on Netherlands-based startups in the transport, aviation and logistics sectors. Apart from equity funding, it will also offer access to the networks of its LPs and support for product launches and international expansion efforts. MIF II expects to invest in 10 to 15 startups over the next six years.
Thijs Gitmans, fund manager of MIF II, said: “We can provide businesses with a unique platform, together with our partners. This method proved to be successful in our first Mainport Innovation Fund and demonstrated that it can help businesses get ahead in a very short period of time.”
This article first appeared on our sister site Global Corporate Venturing.
