Due Dilligence
Walvis Participaties is a venture capitalist that invests in Dutch internet technology companies. Walvis Fund III focusses on companies in (early) growth stages and with global ambitions. They received a funding request for a minority equity stake in a Dutch online platform that wants to expand their proposition globally. Walvis asked SparkOptimus to conduct a commercial due diligence to evaluate this proposition.
SparkOptimus has the required (digital) expertise to conduct thorough outside-in analyses of online companies. Their concise report gave us the confirmation of our own analysis that we are making the correct investment decision
SparkOptimus conducted in-depth interviews with the Dutch CEO to validate all aspects of the global proposition. We also interviewed employees in key positions to understand the current operations, the ambition for expansion, and the roll-out plans. Furthermore, we reviewed internal documentation on, e.g., financial model, organizational structure, and sales strategy. We conducted an outside-in evaluation with specific focus on several key concerns, such as a business case sensitivity analysis.
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We summarized our conclusions in a concise presentation, focusing on our observations around proposition & market, technology, and organization, and flagged issues that needed resolving for a successful expansion. Based on the comfort provided by our report, amongst others, Walvis Participaties made the decision to invest in the Dutch online platform.
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VNAB is the trade association of the Dutch co-insurance market, which represents the interests of 96 insurers & brokers. They facilitate large commercial high-risk insurances in the Netherlands through different types of services: supply relevant IT technology products, guarantee knowledge transfer between members, and function as a physical meeting center. SparkOptimus & VNAB jointly defined a vision to work towards the optimal, predictable, and digitally enhanced co-insurance chain for an excellent customer experience. This vision was iterated with members in round table discussions, where they subscribed to the ambition, while expressing the need for a business case before committing to the joint effort.
Biocodex, a global family-owned pharmaceutical company, expanded into the consumer health sector by acquiring IPRAD, a large women's health business, in 2020. Recognizing the growing shift towards online shopping, Biocodex sought to strengthen its ecommerce capabilities. They initiated 3 major projects: e-retail, direct-to-consumer (D2C), marketplace selling, led by a global ecommerce & digital team. These early initiatives highlighted opportunities for further alignment among stakeholders regarding the urgency, current state, and future direction of Biocodex's ecommerce efforts.
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Budget Thuis is a leading energy and telecom services provider in the Netherlands, committed to providing reliable services at affordable prices. Serving more than a million customers, Budget Thuis holds a prominent position in the industry. Recognizing the substantial potential of Generative AI to enhance internal processes and the customer experience, Budget Thuis faced challenges in realizing its value independently. Therefore, they asked SparkOptimus’ support in identifying and prioritizing company-specific use cases, rapidly testing and proving the value by collaboratively building, testing, and improving MVPs, and designing an organizational setup for long-term, sustainable (Gen) AI innovation.
