Amsterdam-based student-run VC fund ASIF makes its first investment in the fintech app Dyme

asif

The Amsterdam Student Investment Fund – or ASIF – is a new VC fund that is run for students, by students, to empower young entrepreneurs. The fund is managed entirely by students, and was set up to invest exclusively in startups founded by students or recent graduates in Amsterdam. Of the €1 million managed by ASIF, half is provided by the University of Amsterdam, while the other half has been raised from various private investors with connections to the Amsterdam startup ecosystem.

In addition to the investing activities of the fund, ASIF organizes a range of events where students can learn about entrepreneurship and VCs, meet startups and other potential employers, and network with like-minded students. The goal of ASIF is to engender a more diverse, accessible startup scene in Amsterdam, and to build bridges between the city’s booming entrepreneurial ecosystem and its student community.

Only a year old, ASIF made its first investment last week in the fintech startup Dyme.

Dyme gives users an overview of their recurring expenses and enables them to switch or cancel subscriptions with one click from within the app. The money raised from ASIF will be used to make the app available throughout the Netherlands.

Former board member Gijs Schot noted that: “After a year of preparation and months of research, we have found a party with enormous potential – a very innovative start-up that we really believe in and fully support.”

Dyme co-founder Joran Idema explains: “Because of the growing number of subscription services, complicated contracts and direct debits, more and more people are losing sight of their finances. As a result, many people end up spending too much money- and not even realizing it! We do not just show users what they are spending and how much they can save; we do that and also enable them to act on this information with just one click.”

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