European venture capital is experiencing a dynamic evolution, and our very own Johan van Mil, co-founder and managing partner of Peak, stands out as a driving force in the industry. As a serial entrepreneur turned investor, Johan has a unique perspective on the transition from building businesses to empowering others to do the same. From modest beginnings to a €66 million fund, Johan’s journey offers valuable lessons for aspiring entrepreneurs and venture capitalists alike.
From Entrepreneur to Investor
Johan van Mil’s career began as an entrepreneur, building and scaling companies across various sectors, from email marketing platforms to data marketplaces. His passion for entrepreneurship led him to write a book and teach at universities, inspiring students to pursue entrepreneurial paths rather than traditional corporate careers.
The idea for Peak emerged organically as Johan started receiving requests to invest in startups. Lacking sufficient capital, he partnered with friends to form a small investment fund. “We started with our own limited company and pooled resources to invest in promising businesses,” Johan recalls. This collaborative spirit set the foundation for what would eventually become Peak.
The Birth of Peak
The name “Peak” carries an interesting backstory. Initially met with skepticism by some partners due to the existence of another similarly named firm, the team decided to embrace the risk as a badge of future success. “If we get sued, it means we’ve made it big,” Johan recounts with a smile. This bold mindset exemplifies Peak’s entrepreneurial ethos.
The early days of Peak were a far cry from the streamlined operations of today. The partners met once a month in the evenings, reviewing pitches and making investment decisions collectively. While progress was slow, the team’s innate ability to identify high-potential startups laid the groundwork for their eventual success.
Scaling to New Heights
Over the years, Peak transitioned from a side project to a full-time venture. Johan became a managing partner six years ago, leading the firm’s evolution into a professional fund with a focus on fast-growing marketplaces, platforms, and SaaS companies.
The growth of Peak’s funds reflects this transformation. From an initial €800,000 fund, Peak has scaled to a €66 million fund, with a robust team of 10 professionals. “We’ve shifted from a hobby project to a fast-paced investment firm,” Johan explains.
A Unique Approach to Funding
Unlike many venture capital firms, Peak is funded entirely by entrepreneurs rather than institutional investors. This decision aligns with their mission to remain entrepreneurial, not just in how they invest, but also in how they operate.
The firm’s LP base includes 100 individuals across all funds, with 60 in the latest fund. These investors, many of whom are seasoned entrepreneurs themselves, provide not only capital but also a wealth of experience and networks. “Our community of LPs strengthens the fund from day one,” Johan notes, highlighting the importance of creating a circular ecosystem where investors remain actively involved.
Building a Collaborative Ecosystem
Despite the size of the LP base, Johan acknowledges the challenges of maintaining close communication with such a large group. The team balances this by fostering meaningful engagement opportunities, ensuring that LPs feel connected to the fund’s mission and outcomes.
This collaborative approach reflects Peak’s broader philosophy: to empower entrepreneurs by providing not just capital, but also guidance and support from those who have walked the same path.
Looking Ahead
Johan van Mil and the team at Peak continue to champion entrepreneurship across Europe, leveraging their unique perspective as founders-turned-investors. Their journey serves as a testament to the power of collaboration, risk-taking, and staying true to one’s values.
For aspiring entrepreneurs and investors, Johan offers a simple but profound piece of advice: “Stay entrepreneurial in everything you do—whether you’re building a company or investing in one.”
Building an Efficient and Collaborative Investment Process
Johan van Mil, co-founder of Peak, shares his insights on how the fund leverages specialized tools and a strong network of limited partners (LPs) to optimize its operations and investment strategy. The use of automation for reporting and capital calls has streamlined operations significantly, but perhaps more impressive is the detailed mapping of LPs’ expertise. This allows Peak to match companies with the right LPs for advice, particularly when exploring specific sectors or markets.
Van Mil highlights the importance of feedback from experienced entrepreneurs. “The impact and feedback from LPs who are themselves entrepreneurs is incredibly valuable,” he notes, underscoring the collaborative nature of Peak’s approach. While the fund doesn’t involve LPs in final investment decisions, their insights on specific industries or sectors are instrumental. For example, Peak has relied on LPs’ expertise in niches like the diamond and jewelry industries to understand unfamiliar markets better.
Engaging with Founders and the Evolution of the Market
Peak has embraced a hands-on, proactive approach to engaging with founders, a shift necessitated by a changing market. As van Mil explains, “Gone are the days when founders would simply come to you. Today, you need to actively connect with and support founders long before they’re fundraising.” This approach includes attending co-working spaces and maintaining an active presence in key markets like Berlin and Stockholm.
Van Mil emphasizes the value of being present during critical moments for founders, whether they’re expanding to new markets or facing internal challenges. He sees this as a vital differentiator for VCs: “It’s not just about providing money; it’s about being there during pivotal moments.”
Scaling Funds While Retaining Entrepreneurial Spirit
As Peak grows, balancing fund size with its entrepreneurial ethos remains a key focus. With its fourth fund hosting 60 LPs, the team has been selective in inviting LPs who bring strategic value. Van Mil is clear about the importance of maintaining flexibility, even allowing smaller-ticket LPs with unique expertise to join. “We’ve seen smaller LPs provide immense value that goes beyond their financial contribution,” he explains.
Despite interest from institutional investors, van Mil aims to keep Peak’s next fund entrepreneurial. He believes this approach allows Peak to stay nimble and closely connected with founders and LPs, reinforcing its brand as an entrepreneurial fund.
Decision-Making: Speed, Collaboration, and Trust
Peak’s decision-making process is designed for speed and collaboration. Investment decisions are not bogged down by lengthy internal approvals; instead, the team acts quickly when an opportunity excites them. This agility was evident when van Mil cleared his schedule to meet a promising team in Berlin over a weekend. “That speed and commitment are hallmarks of an entrepreneurial fund,” he explains.
Weekly pitch sessions involve the entire team, ensuring diverse perspectives and transparency. Van Mil believes this inclusive approach fosters trust among founders and strengthens Peak’s reputation.
Staying Focused on Seed and Pre-Seed Investments
Peak’s investment thesis revolves around the seed and pre-seed stages, a space where the fund can add the most value. Van Mil describes this phase as “fascinating,” providing opportunities to deeply engage with founders during a critical growth period. While Peak occasionally participates in Series A rounds, its primary focus remains on early-stage investments, reserving capital to support portfolio companies in later rounds.
This focus has allowed Peak to maintain a high investment pace, with 22 new investments made in just two and a half years. The team leads most of its deals, which van Mil sees as a testament to their entrepreneurial approach. Building networks and sourcing engines in key geographies like the Benelux, Nordics, and DACH regions has been critical to this strategy.
Balancing Growth with Flexibility
Looking ahead, van Mil acknowledges the challenges of scaling funds while retaining Peak’s entrepreneurial DNA. He stresses the importance of clear communication with LPs and robust back-office operations to manage growth effectively. “If you set a clear goal, it’s achievable,” he says confidently.
While van Mil is open to learning from larger players, he’s wary of following traditional VC paths too closely. “Peak has a unique brand and approach,” he explains, adding that the team aims to remain daring and unconventional as they expand.
A Distinctive Brand in Venture Capital
For Johan and his team, a strong brand isn’t just a nice-to-have—it’s a critical lever for growth. “The brand is key for a VC,” Johan explains. “It’s often neglected, but for us, it’s a way to distinguish ourselves from the rest.”
Six months ago, Peak transformed, dropping “Capital” from its name and adopting a sharper, more modern identity. This change was not just cosmetic; it reflected a deeper ethos of direct and approachable communication with founders and LPs. The redesign, led by Johan’s colleague Madeline, emphasized standing out in a crowded market while maintaining authenticity.
“Brand visibility is essential,” Johan adds, highlighting that the success of Peak’s portfolio is also a cornerstone of their brand. With 37 investments, 11 exits, and a strong track record in their last fund, Peak is carving a niche as a bold, daring player in the European market.
Scaling Across Europe
Though Peak began in the Netherlands—a small market by global standards—it has grown into a pan-European VC. This expansion has been fueled by strategic hires, including Indra Sharma, who now leads their efforts in Stockholm, and a new team member heading their German office. Johan emphasizes the importance of having the right people in the right places to tap into local ecosystems and unlock deal flow.
Yet, it’s not just about geography. For Johan, being a trusted partner to founders is central to Peak’s approach. Raising capital is challenging for entrepreneurs, and Johan ensures Peak delivers value from the first conversation. Through a founder-focused NPS survey, they continuously refine their processes to provide meaningful feedback, even to those they don’t invest in.
The Role of Content: The Big Exit Podcast
One of Johan’s passion projects is The Big Exit, a podcast where he interviews European tech founders about the often-overlooked journey of exiting a company. “Exiting is such an important moment for founders,” Johan reflects. “It’s also an area where there isn’t enough high-quality content.”
The podcast has featured a wide array of entrepreneurs, from Emma Tracey of Honeypot to the founder of Signavio, who sold the company to SAP for €1.2 billion. While the podcast aims to inspire and educate founders, it’s also proven to be a valuable networking tool for Johan, helping him connect with new founders, potential LPs, and industry peers.
A Philosophy of Focus
Johan attributes much of Peak’s success to a relentless focus. “Don’t try to please everybody. Look for alternative ways to get things done. Give 100% on one big goal and don’t move on before it’s done,” he advises.
This philosophy translates directly into Peak’s operations. Each partner focuses on their core strengths—whether that’s sourcing deals, closing them, or guiding founders through exits. Johan’s entrepreneurial background has given him a unique perspective on running a VC firm, allowing him to lean into what he does best and delegate the rest.
Looking Ahead
Johan’s vision for Peak is ambitious: to become one of Europe’s top VCs, particularly in their chosen niches of SaaS, marketplaces, and platforms. While he acknowledges the challenges ahead, he’s confident that Peak’s brand, people, and portfolio will drive them forward.
On a personal note, Johan remains deeply invested in helping founders succeed. “Running a company is great, but it’s also really hard,” he says. Whether through direct mentorship, bold investments, or inspiring content, Johan and his team at Peak are committed to making the entrepreneurial journey a little bit easier—and a lot more impactful.
Want To Learn More About Exiting Your Company?
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