“Classical entrepreneurship does not drive me. I have no problem working under a boss and did not have the urge to start a business from a young age.” Speaking is Cesco van der Vliet from the rapidly growing Altix, founded in 2023. He worked in private equity, was a true investor. His large network of entrepreneurs helped him at the start of his company. Altix focuses on making private equity accessible to individuals by setting up funds that in turn invest in various specialized private equity funds. “They came to me: ‘I want to invest in private equity.’ There were hardly any parties doing this. And those were generally unnecessarily expensive or had little experience with private equity, and sometimes the unfortunate combination of both. That’s why we started helping them ourselves.”
Starting for himself was a big step for Van der Vliet. “I was doing well as an investor at Gate Invest and had just had a baby. Still, we took the plunge.” The goal is to set up a new fund every year, with three funds within three years everything is going according to plan. The team now consists of seventeen FTEs. “We are building something bigger, in the Netherlands, Belgium, and maybe one or two other countries. One billion in assets under management, that’s what we are aiming for.”
Healthy stress
Van der Vliet was ready for something new after his last job in private equity. “I would regret it if I didn’t do it. If you have started a business, even if you have failed, it is good for you. You learn so much from it; afterwards, you come to the table with a different experience, whatever you do next.” Contrary to what everyone thinks, failing with a business is not necessarily seen as negative according to Van der Vliet. “The private equity market I come from often views it this way: these failed entrepreneurs had courage and daring and learned many lessons. The opportunity cost for me to start for myself was therefore manageable. This shows that I am more of an investor than a pure entrepreneur; I think long before I do something and am a bit more risk-averse than the typical entrepreneur.”
To start, Van der Vliet and his partner Tom Boersma (33) raised money from angel investors. “Tom and I paid ourselves nothing; we had to invest.” The investors had given themselves twelve months to raise 50 million for the first fund. The first months were exciting. “We started off well in January, but the summer was very quiet then. That was stressful, although it was healthy stress. After that, it really took off. After a year, I was sure we had a proposition we could build on.” Altix raised 61 million in that first year from entrepreneurs and others who wanted to invest at least a hundred thousand. “It was the fomo effect: at one point, everyone we had been talking to for months wanted to join. That was great! Since then, it has been a completely different experience.”
Strategy and hassle
The former hockey international - he played one international match - finds entrepreneurship “extremely challenging.” “There is a lot involved. Fortunately, I do it together, which is much less lonely. We have so many good conversations, it’s a relief to be able to share everything.” Van der Vliet and Boersma started Altix together with three others. “We all have the same mindset: we want to get the best out of ourselves and the company every day. How do you maintain that DNA and the associated core values as you grow quickly? That is the most important entrepreneurial question for me at the moment. At this stage, you cannot afford any mis-hires.”
Mental switch
How does Van der Vliet build his company? “Ensuring that the focus is right, that’s what I’m most concerned about. What are our objectives and how do we ensure we stay aligned? What is the rhythm of the organization? I need to consciously allocate time to know how everyone is doing, both professionally and personally. I find that important.” He continues: “I motivate by giving attention. By providing feedback, everyone can develop. It’s a matter of giving responsibility and guiding well. That motivates. Enthusiasm, humor, and personal interest are also important. And all of that can work very well together because we are working with a great team on a very good product. We are democratizing private equity and really adding something. And everyone within Altix is part of this whole.”
Morally on the same page
Van der Vliet can also be critical of his own functioning. “I can sometimes postpone things that benefit me in the long term but don’t yield anything in the short term because I find them less relevant at that moment. That often turns out to be inconvenient later. My partner Tom does not have that at all. He is always focused on the long term. That combination works very efficiently and pleasantly. Fortunately, he already knew me..”
Choosing a good partner is essential according to him. “I couldn’t have started this with just anyone. You have to make decisions all the time: agreeing with each other or sometimes not. That has to match. How do you do business and interact with each other? We have talked a lot about that. Morally, we are on the same page: we find this fair, this not. That makes it frictionless. Although we are not always in agreement on certain aspects, and that is also good.”
