The Modular Company

VC and PE Services

Welcome to The Modular Company BV

The Modular Company was established in 2007 to serve as the vehicle for a number of activities, over time our focus has shifted to providing services to investors, mostly Venture Capital and Private Equity funds. We are located close to Amsterdam, the capital of the Netherlands and central to the business centers of Europe.

Our customers range from small angel investors (5M, 10 investments) up through mid-sized and several larger funds (100 million to 1 billion invested funds).


The services we provide are varied:

  • Technical Due Diligence
  • Competitive review
  • Code audit
  • Subscription base analysis

With Technical Due Diligence being our main focal point. To date we have done about 130 contracts, the vast majority in Western Europe with the occasional exception being made for clients outside the continent.

Technical Due Diligence

We work with small teams of typically 4 to 6 individuals on any particular job. Who works on the job is dependent on the specialization required and/or customer preference.

We have done due diligence work in the following domains:

  • Administrative Software
  • Advertising Technology
  • Content Distribution
  • Embedded software development
  • Production of appliances
  • E-commerce
  • Travel
  • Point-of-sale systems
  • Construction IT
  • Flower distribution
  • Media (print, online)
  • New Mobility
  • Medical IT
  • Business analytics and support
  • Financial Technologies
  • Consumables
  • Sports wearables
  • Temp agencies IT
  • Government and semi-Government
  • Analytics
  • Recycling
  • Telecommunications
  • Archival services
  • Video production
  • (Recreational) Gaming
  • Hosting
  • Social Media

Because each company is unique, we spend quite a bit of effort on tailoring our process to the target company, we feel that this is the only way to perform the task properly.

Our Process

We try very hard to keep our process as light as possible for the target companies. There are some really good reasons to do this: for one the target company usually has a lot on their plate already. Often they are running their company with the pre-funding resources, for another, they are possibly going through many of these due diligence processes and it all adds up. Having a process that is as light as possible for the target tends to give our customers a leg up in the negotiations and can help set the stage for a good relationship between the investors and the target company in the future.

The way we work is that the company - and the investor - sends us whatever documentation they already have, nothing needs to be prepared specifically for us. This can be done using a dataroom if desired, or through some other secure means of communication. Then, for two days (usually the Monday and the Tuesday) we will do our homework. During that time our ‘standard’ questionnaire will get customized specifically for the target.

For this reason we do not share our lists of questions with the target prior to the interview, which usually takes place on Wednesday. If the interview is more than 50 Km away from Amsterdam we travel on Tuesday evening to ensure our timely arrival on the day of the interview.

No special preparations are required on the part of the target, other than that we usually like to do the interview at the company HQ, and that we like to take a short break for a sandwich around 1 pm or so. The morning session is typically allocated to company specific questions, the afternoon session is to run through a large number of standard questions to collect data about the company’s practices and processes.

Then, on Thursday and Friday we prepare our report, which typically is sent out in draft to the client on Friday evening with a follow up on Saturday to process any feedback received.

In exceptional cases (for instance: a company larger than the ones that we normally look at or a new domain) we will take two weeks, with one full week extra spent in preparation. Of course this will always be decided in close collaboration with you, the customer.

The Report

Our reports tend to be on the dry side, no fancy graphics, stock images or eye candy, no powerpoint presentations and no fluff. A typical report will be between 10 and 20 pages.

  • two to three pages of Executive Summary, written as non-technical as we can manage
  • a conclusion, typically two paragraphs with our analysis of whether or not we support this deal based on the evidence gathered
  • 5 to 8 pages of expansion on the ES, touching no all the topics we have looked at
  • 3 to 10 pages of advisories, things that we believe the company should do, why and how

A sample report is available on request for prospective customers.


A typical due diligence will touch on a wide range of topics, here is a sample of what can come up during the interview:

  • Team
  • Risks
  • Backups
  • Security
  • Compliance
  • Development
  • Intellectual Property
  • Competition
  • Scaling
  • Testing
  • Planning
  • Production


Our 2019 fee for a complete tech due diligence excluding expenses such as travel and hotels is 35000,- Euro ex VAT per week. If you are inside the European Union you will need to be VAT registered to be able to receive a VAT free invoice, if you are located in the Netherlands then we will invoice you inclusive VAT and you can reclaim it in the usual way.


Because we are a relatively small company with quite a few customers we are usually booked at least a few weeks ahead. If you have a very urgent job please let us know as early as possible. That way the chances of getting your job done when you want are maximized. Because of our rigid schedule we do exactly one job every week, which simplifies scheduling a lot, as soon as you reserve a slot you are sure your job will be done, when it will start, when the interview will take place and when you will have the report on your desk.


Our management team consists of:

And a large number of other colleagues as well as specialists that we can call on for their specific domain knowledge if a job should require it.


Our customers are located in the Netherlands, Belgium, The United Kingdom, Germany, France and The UAE. Depending on the nature of the target you have in mind we will be delighted to connect you to the appropriate reference(s), but to protect the privacy of our customers we do not list their contact information here.


You may contact us via email: Jacques Mattheij or Marco van der Does, please include a brief description of the job you have in mind and the proposed timeframe, for more urgent matters you may contact us at +31 (0) 6 30 366 241, but keep in mind that on Tuesday afternoon and Wednesday we are typically hard to reach due to ongoing work.

Looking forward to making your acquaintance and working with you!

Our VAT Number is: BTW NL8059.84.458.B.01