For investment fund ScaleFund Gauthier van der Elst is constantly scanning the start-up landscape for new opportunities. Openthebox helps him with that: 'I trust it with my eyes. '
After ScaleFund I and ScaleFund II, it will soon be time for a third investment fund that will support young companies with around 20 to 30 million euros.
The Belgian ScaleFund is clearly soaring in start-up land. They focus on early stage companies that are between one and three years old and, above all, have a lot of growth potential.
Investing
“We are usually the first professional investor in these companies,” says Gauthier van der Elst.
“With a view to diversification, we are sector agnostic. We invest in companies with high growth potential. For example, we stand behind Wooclap, a tool used by speakers to interact with their audience. It already has millions of users in more than 100 countries and many Belgian and French universities use it. '
Also Moonbird, a hand-held device that acts as a high-tech breathing coach to address stress, sleep problems and anxiety disorders, is part of the Scalefund portfolio.
Coaching
“We were created at the initiative of Be Angels, which gives us access to a large network of experts,” says van der Elst. “We're actually going to help coach companies: how to scale from 5 to 50 employees? How do you determine the funding strategy for future fundraising? How do you go international? How can you revise your pricing strategy?”
“As an openthebox user, you get quick access to the information you need at that moment.”
Gauthier van der Elst, investment partner ScaleFund
Filter in the prospecting process
Van der Elst is constantly scanning the horizon of the start-up and scale-up landscape. “When I see a company in the press that I don't know yet, I want to know how it develops. I used to call them all the time to find out more. This is faster than first scouring the Belgian Official Gazette and the Crossroads Bank for Enterprises and the National Bank. But then it sometimes turned out that the start-up had just raised 3 million, or that it is too big for us or just too small. Now I've added a filter to my prospecting so I can quickly make an initial selection. '
That filter is openthebox.
A great tool, says van der Elst. “A lot of information is available on the web, but not necessarily in a readable or user-friendly format. Thanks to openthebox, all of this is conveniently bundled. The spidersweb function, which maps the connections between entrepreneurs, is certainly a huge help in my job. It gives me a clear overview of a company's equity, who the directors and investors are. That way, I know right away whether it's for us or not. '
Spiderweb shows all connections
“It used to be quite an obstacle course to find a company. Now I have the info I need in two clicks. ' As soon as van der Elst now hears about a new start-up, opentebox has become a reflex. “It gives me insight into the company and investment strategies, which saves me time and helps me to understand the Belgian ecosystem very well.”
“We use other software. For example, to be able to scan worldwide and look at current developments within companies. But this quickly comes at a price of tens of thousands of euros. Openthebox bundles public information and completes the picture. The risk is that the information is not up to date and that a new administrator is not published. But in general, the information is very accurate and also official, so you should be less critical than on other sites. I almost trust it with my eyes! So it's the perfect basis to build on. '
The advantages of openthebox according to ScaleFund:
- company information conveniently bundled
- ability to gain insights quickly
- official and accurate information
