Establishment of the National Investment Institution (NII) good for the Netherlands
The Netherlands is facing major economic and social challenges. Investments in technology, digitalisation, energy, innovation and resilience are essential to strengthen our earning capacity and our international competitiveness. That is why PME supports the ambition behind the National Investment Institution (NII).
In the Netherlands, we have a unique combination of entrepreneurship, technical knowledge and innovative strength. With companies such as ASML, NXP and Philips, strong technical universities and an innovative industry, our country has everything it needs to maintain a leading position in the future. A powerful NII can help better connect public and private parties and accelerate the move from innovation to economic impact.
PME has been investing in Dutch innovation, venture capital and high-tech companies for years. In doing so, the pension fund contributes to the development of new technologies, economic growth and the strengthening of Dutch industry. For example, PME recently invested in the AI chip company Euclyd in Eindhoven via the Strategic Partners Fund (together with PMT and Innovation Industries). Euclyd develops AI chips that are up to a hundred times more efficient than the current standard chips from Nvidia.
Alae Laghrich, chair of the Executive Board of PME: ‘The Netherlands produces and develops world-class technology. The challenge is to ensure that its economic value is also created and retained here. The National Investment Institution can help to bring knowledge, entrepreneurship and capital together more effectively so that more Dutch companies can grow into European and global champions.’
‘For PME, a strong Dutch high-tech and industrial base is directly connected to the future of our participants. For years, we have been investing in innovative companies that work on the technologies of tomorrow. A strong NII can further strengthen this development and contribute to a stronger Dutch economy. It is important that the government ensures that the core capital of the NII is further expanded in the coming period, so that the institute’s scope for action can grow.’
‘This is good for the Netherlands, good for the sectors in which our participants work and good for our future prosperity.’
Since 2017, PME has been investing in start-ups and scale-ups that contribute to the Dutch innovation and technology sector. The pension fund has been involved since the foundation of Innovation Industries and DeepTechXL. It also invests via the Strategic Partners Fund (together with Innovation Industries, MN and PMT) and Keen Venture Partners. In total, PME has committed more than €350 million to innovation and the high-tech industry within the Netherlands. This commitment will be further expanded until 2030. In this context, we are already working well with Invest NL, and we will continue to work well with the NII with the same intention.