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Our Impact Report 2025 is now live!

Take a look at the positive progress we made with our portfolio companies in 2025.

Strategic philanthropy in a shifting global landscape

Rethinking philanthropy

Reframing philanthropy
Philanthropy as an impact lever
Impact stories
Learning and collaboration
Chapter select
Reframing philanthropy
Philanthropy as an impact lever
Impact stories
Learning and collaboration

Reframing philanthropy

Over the past year, philanthropy has faced a rapidly changing global landscape. Political shifts, rising polarisation and pressures on democratic institutions have limited civic space in many countries. Meanwhile, climate, biodiversity and social equality topics have lost political priority, and public funding for civil society has become less predictable. At the same time, humanitarian needs are rising, and the challenges are becoming increasingly complex and interconnected.

In this context, philanthropy must go beyond filling gaps. It must take risks, drive long-term change, and strengthen ecosystems for lasting solutions.

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Fresh Ventures - Designing the regenerative economy (learn more in the case studies below)
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TAG – Climate education in action (learn more in the case studies below)

Philanthropy as an impact lever

Philanthropy plays a distinct and complementary role alongside impact investing at VP Capital. Where impact investments are designed to scale proven solutions, philanthropy creates space for earlier action: to experiment, to address root causes, and to support higher-risk initiatives that are not yet investable. Such initiatives are often essential for shaping the conditions in which societal and environmental solutions can emerge.

Overview of the 2025 portfolio

In 2025, the total philanthropic contributions of VP Capital exceeded €1.6 million. Building on our venture philanthropy strategy introduced in 2024, we further strengthened the alignment between our philanthropic activities and investment priorities in 2025, in close collaboration with our trusted partner Telos Impact, a recognised leader in venture philanthropy.

Marije Rhebergen, Director of Impact & Communications, explains: ‘In practice, this means prioritising initiatives and early-stage organisations that contribute to one of our core strategic pillars – biodiversity, climate and social equality – while maintaining flexibility for emergency relief and local initiatives.’

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The philanthropic portfolio is structured around three interconnected levels of impact:

System change

Transforming the structures and behaviours that drive complex issues, addressing root causes for long-term, scalable solutions.

Direct impact

Funding organisations that deliver tangible, near-term outcomes for specific communities or issues.

Accelerators and ecosystems

Backing networks, incubators and capacity-building organisations that help early-stage initiatives develop into resilient, high-impact organisations.

This structure aims to combine long-term ambition with tangible results, while maintaining a diversified and forward-looking philanthropic portfolio.

Staying responsive in times of acute crisis

Alongside our strategic focus, we also remain committed to responding to acute humanitarian needs. Recent years have shown how quickly crises can escalate, while international attention and resources are often unevenly distributed. Conflicts in regions such as Gaza and Lebanon, as well as an underreported crisis like Sudan, continue to highlight the need for rapid and flexible philanthropic responses.

To enable timely action, we work with an emergency funding mechanism in partnership with the United Nations High Commissioner for Refugees (UNHCR) and the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). This structure helps enable resources to be deployed quickly when urgent needs arise, without undermining longer-term strategic commitments.

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Impact begins at home

Impact does not only take place globally – it also starts close to home. Through the Annetje van Puijenbroek Foundation, initiatives are supported that strengthen social cohesion and community resilience in Goirle and Hilvarenbeek. In 2025, the foundation marked its tenth anniversary, reflecting a decade of sustained local engagement.

Over the past ten years, the Annetje van Puijenbroek Foundation has backed a wide range of initiatives, including neighbourhood meeting spaces, volunteer-led social programmes and projects that strengthen informal care and social inclusion.

Annemiek van Puijenbroek, Chair of the Annetje van Puijenbroek Foundation, reflects: ‘Our long-term presence allows us to truly understand what is happening locally. We support initiatives that bring people together and help communities take care of each other. Impact starts with proximity, continuity, and shared responsibility.’

“Our long-term presence allows us to truly understand what is happening locally. We support initiatives that bring people together and help communities take care of each other. Impact starts with proximity, continuity, and shared responsibility.”

- Annemiek van Puijenbroek, Chair of the Annetje van Puijenbroek Foundation

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Cultivating a culture of giving across generations

Passing on values across generations is an essential part of sustainable philanthropy at VP Capital. As a longstanding tradition, each family member receives an annual budget to donate to causes they personally care about, covering a wide range of issues from refugee support to environmental protection. This approach encourages personal involvement from an early age and helps nurture empathy and social awareness, supporting the next generation in developing as engaged stewards of philanthropic capital.

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TAG – Climate Education in Action

What if every child, everywhere, grew up not only understanding climate change – but knowing they can shape the solution?
That’s the ambition driving Take Action Global (TAG). Founded in 2019, TAG works...

Read more
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Casa Legal – Rethinking access to justice

What happens when the justice system is not designed for people’s complex realities?
Casa legal was founded in Belgium on a simple conviction: access to justice for people facing ...

Read more
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G1000 - Building democracy

G1000 is Belgium’s platform for democratic innovation, driven by one ambition: to make Belgium a model for inclusive and effective democracy. In 2025, that ambition felt more...

Read more
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HarvestCare - Food is medicine

In 2025, HarvestCare accelerated its mission to build an integrated Agri-Health system in the Netherlands, connecting agriculture and healthcare through practical...

Read more
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Fresh Ventures - Designing the regenerative economy

Since 2021, VP Capital has partnered with Fresh Ventures, a Dutch venture studio that co-founds businesses restoring soil health, ecosystems and human wellbeing...

Read more

Learning and collaboration

In 2025, learning from practice became a central aspect of our philanthropic approach. A dedicated philanthropy day, organised in collaboration with Telos Impact, brought together VP Capital’s philanthropic partners. The event fostered deeper collaboration and enabled the exchange of insights and lessons learned. By connecting organisations and facilitating open dialogue, we created a space for mutual learning, enhancing collective impact.

“Prioritising partnership over control and long-term learning over short-term proof.”

- Marieke Terhaar, Senior Associate at Telos Impact

Learning, partnerships and trust

We extended our collaborations with philanthropic partners, fostering trust, openness and shared learning. Several promising relationships were intentionally developed into multi-year partnerships, reflecting the conviction that meaningful change requires time, continuity and mutual understanding.

The focus was on learning from organisations working directly in the field. Their experience is essential in making strategic choices and ensuring philanthropic capital and impact investments remain relevant.

Reflecting on this approach, Marieke Terhaar, Senior Associate at Telos Impact, notes: ‘What stands out in VP Capital’s approach is how trust and learning is translated into practice. By prioritising partnership over control and long-term learning over short-term proof, VP Capital creates the conditions for more meaningful and sustained impact, without losing ambition.’

Looking ahead: deepening systemic and learning-oriented approaches

2026 promises to be a year full of challenges and opportunities. Navigating the unpredictable philanthropic landscape, with shifting political priorities, uncertain funding and pressure on civil society, will require us to remain both an agile and a reliable partner to the organisations we support.

We aim to strengthen our position in the ecosystem by using philanthropic capital more catalytically, and by evolving from a primarily thematic focus towards a more systemic strategy. This requires clearer learning objectives and a stronger ability to identify where interventions can have the greatest impact. At the same time, we must maintain sufficient focus and scale within complex systems. Placing trust and learning at the core of our approach will require clear roles and expectations, sustained relationships and meaningful non-financial support.

As Marije Rhebergen reflects: ‘Working more systemically means we don’t always have clear answers upfront. Our challenge is to make deliberate choices, stay close to our partners and keep learning together about what really works and where we can add the most value.’

How we navigate these questions in 2026 will be decisive in building learning partnerships and ensuring that our collaboration remains purposeful and effective.

The selection process: no one-size-fits-all 

So, how do we select the projects we support? While we actively explore relevant projects, Telos Impact, conducts sourcing, in-depth screening and due diligence, assessing criteria such as strategy, governance, finances, and impact potential.

Given the diverse and often long-term nature of the impact involved, Telos Impact avoids a one-size-fits-all approach and applies a tailored, case-by-case evaluation process, leading to a curated longlist of promising projects. These are submitted to our internal donation committee — composed of Guus van Puijenbroek, Jobien Laurijssen, and Marije Rhebergen, reflecting our impact investment themes and (family) values — for final decisions.