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Solo

Investment fund

Mibiton Solo gives young Life Sciences organisations with (the prospect of) a turnover or a first round of funding the opportunity to invest in equipment or facilities for an amount of up to € 500,000.

Financial lease

These are investments in, for example, laboratory equipment, a clean room or (medical) equipment that has been developed independently.

We offer an investment (financial lease) that must be redeemed within four years, including a market-based interest on the outstanding amount. After one year, you can (partially) repay the outstanding financing early without penalty. We can agree on a grace period of up to one year if required for the cash flow of your company.

Conditions and Benefits

Applications will only be processed if the following conditions are met:

  • The fund is open to organisations engaged in Life Sciences, such as biomedical sciences, chemistry, food, agro or environmental technology.
  • The fund is primarily intended for SMEs, although we do not necessarily exclude foundations.
  • The fund is not intended for starters who are at the very beginning of a development path. They are better off making use of Early Stage Funding, such as RVO (state agency for entrepreneurs in the Netherlands) or NOW (the Dutch organisation for scientific research).
  • The applicant is able to demonstrate that it has sufficient cash flow to finance its other operational activities. For example, because the organisation has concluded a first customer contract or has (nearly) accomplished a funding round for operational costs.
  • Organisations that are already leasing equipment commercially and need to use additional equipment for a relatively high-risk investment can also apply.
  • The fund is open to start-ups that have closed a first round of financing with another (venture capital) investor.

What is the procedure of the application?

We will go through the steps with you.

Quickscan

First please complete our online Quick-scan form. Our investment manager Kees Recourt will check the application against the fund's criteria. After a positive assessment, we will send you an invitation for an online introductory interview.
 

Introduction

During the online introductory interview, we discuss the intended investment, conditions and procedure. This is followed by a positive or negative assessment.

Request

After a positive assessment, you and Kees Recourt will draw up a complete application. This will be made up of a business plan and financial information, including a solid cash-flow forecast. During the process, Kees Recourt will visit your company. No later than two weeks before the board meeting, all documents will be available electronically (see Calendar).

Board meeting

During the board meeting, you will be asked to explain the application verbally.

Decision

Within two weeks after the board meeting, you will receive the decision in writing. One of the following four decisions will be given: a) unconditional rejection, no second chance; b) rejection, however, with the possibility to reapply if you meet specific conditions; c) award under conditions, such as obtaining additional funding; d) unconditional award.
The process takes two months maximum. We treat the investment application confidentially at all stages. A confidentiality statement is available upon request.

Progress monitoring

After the grant, we would like to receive a quarterly cash-flow forecast. Every year, your company must issue a report with financial data and information about the use of the equipment or facilities. Our fund manager Mr Recourt will visit your company annually and report to the Board. If the term of the financing needs to be extended, this will be negotiable.

End of repayment

After repayment, you can take over the equipment or facilities for a small amount.

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