Overview
Two Rivers Capital (Two Rivers Capital B.V., Willemsparkweg 31, Amsterdam) was founded in 2025 by Maasbert Schouten - serial entrepreneur and CEO of Maasinvest - and investment banker Denzell Melles. The firm gives Dutch entrepreneurs and wealthy individuals indirect access to European mid-market private equity through carefully selected fund managers.
Clusterfonds I
The debut fund reached final closing at EUR 80.02 million in March 2026, 60% above its EUR 50 million target and fully raised within roughly five months. The fund-of-funds commits to around twelve specialised private equity funds that together invest in more than one hundred profitable European SME companies with an EBITDA of roughly EUR 1-8 million. It targets a net return above 15% IRR and a money multiple above 2.0x. The fund counts over one hundred participants, with more than 95% of committed capital coming from entrepreneurs; the founders committed EUR 10 million of their own capital.
Tax efficiency
Corporate participants investing through a Dutch entity can benefit from the participation exemption (deelnemingsvrijstelling), leaving profits untaxed at both fund and investor level.
Regulation
Two Rivers Capital is registered with the Dutch Authority for the Financial Markets (AFM) under the light regime of article 2:66a Wft. It does not hold a full AIFMD licence: there is no prospectus requirement and no ongoing AFM or DNB supervision.