# TIN Capital Fund Management

TIN Capital Fund Management is a Private Equity based in Amsterdam, Netherlands.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Amsterdam, Netherlands
- **Region:** Europe
- **Address:** Amsterdam, Netherlands
- **Founded:** 1998
- **Assets under management:** Undisclosed
- **Website:** tincapital.vc
- **LinkedIn:** https://www.linkedin.com/company/tincapital

## Regulatory record

- **Reports private funds:** No

## About

TIN Capital Fund Management was founded in 1998 by Michael Lucassen as a Netherlands-based private equity firm focused on early-stage technology investments. The firm positions itself as a specialist in B2B software, cybersecurity, and digital health, targeting companies at seed and start-up stages where institutional capital in the Benelux region remains relatively scarce. The firm's strategy centers on venture capital and growth equity for European technology companies, typically entering as a first institutional check. TIN Capital has deployed capital through a series of funds — the most recent, known as the European Cyber Tech Fund IV, held a first close at €60 million in early 2023 (per the firm, 2023). The fund targets cybersecurity, enterprise software, and AI/ML companies across the Netherlands, Belgium, and broader Northern Europe. Known portfolio companies include Codean, a Dutch security tooling startup, and i4talent, a digital talent platform (public record). The firm uses direct equity investments, often syndicating with other Benelux-focused venture firms rather than operating as a fund-of-funds or club-deal structure. Headquartered in Amsterdam, TIN Capital operates with a lean team structure typical of specialized European micro-VCs. The total team size and full roster are not publicly disclosed. The firm has occasionally been associated with government-backed co-investment vehicles, a common pattern for Dutch venture firms accessing the Seed Capital scheme managed by the Netherlands Enterprise Agency. In 2023, the firm closed its latest fund to continue investing in cybersecurity and dual-use software, reflecting a posture that aligns with broader European strategic-autonomy investment themes. TIN Capital's structural differentiator lies in its two-decade persistence in a funding niche — pre-Series A B2B software in the Benelux — that larger pan-European funds often bypass due to check-size economics. The firm maintains a narrow geography and stage focus, creating a sourcing advantage in a market where relationship-based deal flow and long-term founder trust serve as the primary competitive moat.

## Sectors

- Enterprise Software
- Cybersecurity
- AI/ML
- Digital Health

## People

- Michael Lucassen — Managing Partner

## Questions

### Who runs investment decisions at TIN Capital?

Managing Partner Michael Lucassen oversees investment decisions. He founded the firm in 1998 and is the primary named principal associated with the firm in public records. The full investment committee composition is not publicly disclosed.

### What stage of companies does TIN Capital typically invest in?

The firm focuses on early-stage rounds — primarily seed and start-up — across B2B software, cybersecurity, and digital health. TIN Capital often serves as a first institutional investor, writing initial checks for Benelux-based companies.

### Is TIN Capital's latest fund industry-specific?

The firm's latest vehicle, European Cyber Tech Fund IV, concentrates on cybersecurity, but the broader mandate includes enterprise software and AI/ML companies. The fund held a first close at €60 million in early 2023.

### Does TIN Capital invest outside the Netherlands?

Yes. While the firm is headquartered in Amsterdam, its investment scope covers the broader Benelux region and Northern Europe, with known investments in Dutch and Belgian companies.

### How does TIN Capital source its deals?

Deal flow comes through a long-standing network of Benelux founders, co-investors, and government-backed initiatives such as the Dutch Seed Capital scheme. The firm's two-decade track record in the region serves as the primary sourcing advantage.

## Related profiles

- [TIM Ventures](https://altss.com/profile/tim-ventures)
- [Tindall Capital](https://altss.com/profile/tindall-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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