No Such Ventures Research
Investment Thesis
No Such Ventures describes itself as a community-powered VC that connects Europe's most accomplished entrepreneurs to its most promising founders. It backs European software-first companies that build Europe's success in three ways: unifying its fragmented markets into a single market, strengthening its competitiveness through digitization and automation, and defending its sovereignty. The firm frames its mission as scaling the best startups into global successes from Europe, and it launched its debut fund under a European sovereign-tech banner.
Stage Focus
The firm writes early-stage tickets. Its two most recent announced deals are both Seed rounds (Duqu, EUR 1.5M, and Ynteq, EUR 2.5M), and the portfolio dates back to 2020. Its own materials say it can lead, co-lead and follow rounds. Follow-on investments are made in portfolio companies such as Trustoo and Vendora.
Check Size
The website states tickets of EUR 500k to EUR 5M into European start-ups. Because part of each deal is raised deal-by-deal from the collective, the founder sees a single combined ticket and one investor on the cap table.
Lead Tendency
The firm leads frequently. Press posts say it led the Duqu, Ynteq, Tap Electric, Naq, Trustoo follow-on and Vendora follow-on rounds. It also took part in rounds such as TAGGRS and Magic Lane. Lead tendency is rated as both lead and follow, with leading most common.
Recent Activity
- Announced the first close of No Such Fund I at EUR 15M, targeting EUR 30M at final close.
- Led the EUR 2.5M Seed in Ynteq (AI-native platform for industrial maintenance), reported as the first investment from No Such Fund I (September 2026).
- Led the EUR 1.5M Seed in Duqu alongside Curiosity VC (a lending and leasing software company).
- Led a EUR 4M round in Tap Electric (EV charging, Q2 2026) and invested in Proprty.ai (AI for property operations, Q2 2026).
- Invested in troy (debt collection, Q3 2025).
Portfolio Highlights
The portfolio lists 14 companies on its companies page: Tap Electric, Proprty.ai, troy, TAGGRS, Magic Lane, Naq, Propel, Contentoo, Bryq, Blackbear, Goboony, Stratex, Trustoo, Vromo and Vendora. Goboony merged with Yescapa to form Europe's largest campervan rental platform. Ynteq and Duqu are newer investments announced through the stories page. The mix is software and platform businesses across HR-tech, data and privacy, compliance, marketplaces, mobility and proptech, mostly in the Netherlands and wider Europe.
Team
- Reinder Lubbers, Founding Partner: Olympic rower, former COO of 24i, started his career in investment banking at Kempen & Co.
- Thijn van Helvoirt, Partner: Former IPO lawyer at Linklaters, founded shared-mobility scale-up Check.
- Jakob Binder, Investor: Computer science and finance background, started in corporate finance at Van Lanschot Kempen.
- Wietske Helle, Finance Director: Former VP Structured Finance at ING, founded EatQ.
- Montana Craven, Investor: Former M&A at Rabobank, led sales at Scaler.
- Nikki Lynch, Friso Lassche and Loet van Ettinger, Junior Investors: Neurobiology and AI startup operator background, finance and innovation consulting background, and financial economics background respectively.
Decision Process
The firm describes a flexible approach that focuses on fundamentals rather than checklists. It runs legal process and due diligence in parallel with selecting collective members to join each deal, and its fund guarantees each commitment 100% so that speed is not lost while deal-by-deal capital is raised. Decisions look partnership-based, with a small team led by the founding partner.
Founder Preferences
The firm favors founders with a distinct story, a contrarian view of their market or an exceptional tech architecture. Its values are Original, Flexible, Focused and Fit. Founders gain access to more than 180 accomplished entrepreneurs in the collective, including founders from Adyen, Booking and Flowtraders, who add capital and operating help.
Geographic Focus
Europe, with the Netherlands and Benelux as the home market. The firm also publishes an annual Benelux VC Landscape report and holds community events such as No Such Bootcamp on November 4.
Gaps
Headquarters location, AUM and exact decision timeline are not stated on the site and were left out rather than guessed.