Capital Mills Announces First Close of RBF Fund 2
Backed by returning and new investors
Fund News, RBF
This first close underlines confidence in our RBF model
Capital Mills is pleased to announce the successful first close of its second revenue-based financing (RBF) fund, RBF Fund 2. The fund has secured strong commitments from both returning investors and new limited partners, underlining ongoing confidence in Capital Mills’ unique approach to non-dilutive, growth-oriented financing for technology companies.
Non-dilutive RBF strategy to boost European tech
The first close marks a significant milestone for the Capital Mills team and its investor network, enabling the immediate deployment of capital to innovative growth companies across North-Western Europe. Building on the strong track record and investment strategy of its fully invested predecessor, the new fund further strengthens Capital Mills’ position as a long-term partner of choice for ambitious technology entrepreneurs.
The fund provides growth loans ranging from €250k to €2.5M, offering founders the flexibility to secure the right level of non-dilutive financing tailored to their stage and needs. Reflecting a flying start, four investments have already been completed under RBF Fund 2 and will be announced shortly. These show the strong demand from founders for flexible, non-dilutive growth capital in the region.
"RBF Fund 2 allows us to continue offering flexible financing structures that are directly linked to recurring revenue, ensuring alignment and sustainable growth without founder dilution"
René Delsing
Partner at Capital Mills
"Our goal is to empower founders to accelerate growth while maintaining ownership and control of their business"
Barry de Kock
Partner at Capital Mills
Investor backing and next steps for RBF Fund 2
Investors in RBF Fund 2 include family offices, and experienced private investors from the Capital Mills network, providing a diversified and resilient capital base. The fund will remain open to further commitments ahead of its final close in Q3 2026.
About Capital Mills
The Netherlands – based Capital Mills is a venture capitalist founded in 2015 and backed by a group of experienced entrepreneurial investors. Focused on long–term collaboration and active support it invests in fast-growing B2B SaaS companies with state-of-the-art technology and ambitious founders.
