5 questions for Rogier de Groot, Impact Investment Manager
What is it like to work for the DOEN Foundation? Our colleagues can tell you best themselves. And that’s why we’d like to introduce you to them! Today, we put five questions to Rogier de Groot, Impact Investment Manager DOEN Participaties.
You recently started as Impact Investment Manager at DOEN Participaties. Why did you apply for this role?
DOEN’s role as an impact-first and pioneering investor. Through previous jobs, I was already familiar with the impact investing landscape. During that time, I always saw DOEN as extremely entrepreneurial, forward-thinking and a role model for other impact investors. I was also drawn to the unique collaboration with Stichting DOEN. Together with early-stage entrepreneurs, we explore which financial instrument best helps them grow to the next phase and create more impact.
What stood out to you in your first week of work?
The drive of colleagues to create a better world, combined with social warmth, intelligence and a strong sense of entrepreneurship. I really notice that colleagues are committed to making investments work, and that drives them to go the extra mile. They’re passionate about their work and don’t see it as just a job. I really connect with that and feel lucky every day to work and invest alongside such dedicated impact-driven colleagues and entrepreneurs.
You haven’t been at DOEN very long yet. What do you find most striking or distinctive compared to other impact investors?
DOEN truly looks at start-up investments from an impact-first perspective. We can do this because we are a revolving fund and can stay involved for the long term. Where other funds expect returns after a few years, our investor, the Nationale Postcode Loterij, doesn’t demand that. This allows DOEN to genuinely support transitions and add value for entrepreneurs who need 7 to 10 years to bring about systemic change. Real change doesn’t usually happen within the short-term horizons of commercial (impact) funds. I see this daily in investments in hardware impact start-ups that are building innovative factories to realize their impact. These types of investments require patience, something many other (impact) investors lack, which is why they often pass on these impactful start-ups.
What has been the most special thing you’ve done so far at DOEN Participaties?
Recently, I was able to make an investment in a steward-owned company. This is a business model where the mission takes center stage, shareholder profits are limited and decision-making lies with stakeholders both inside and outside the company (so-called stewards). This is a very innovative model and truly pioneering work. In this model, capital (shareholders) is separated from decision-making (stewards). That’s very different from the traditional venture capital model, where investors gain influence through their financial investment. What’s interesting here is that the company’s mission is now guided by stewards who represent a variety of interests within the system in which the company operates and not just the financial interests of shareholders. As a result, the mission is often executed better and more strongly. At the same time, it’s a bit challenging, even as an impact investor, to give up your influence in decision-making.
Which investment is your favorite and why?
There are many partners I care deeply about, especially those developing high-impact technology. But I have a special interest in Oscar Circulair. With their inner-city waste collection, they create impact on many levels. They are transforming a very traditional market with an approach that is purely impact-driven.
Some of the benefits of Oscar Circulair:
1. Higher recycling rates for urban waste and a drastic reduction in non-recyclable residual waste.
2. Job creation for people with vulnerable positions in the labor market.
3. Electric waste transport in city centers, resulting in lower emissions.