/* Firm company workspace: Overview + Oversight (Valuation + Structure). */ /* ---- generators so every company has a coherent story ---- */ function buildBridge(c) { if (c.id === "helios") return VCP.heliosBridge; const entry = +(c.ev * 0.64).toFixed(0); const growth = +(c.ev * 0.30).toFixed(0); const margin = +(c.ev * 0.10).toFixed(0); const mult = +(c.ev * 0.05).toFixed(0); const nd = +(c.ev - c.equity).toFixed(0); let cum = entry; const steps = [{ name: "Entry valuation", value: entry, cumulative: entry, kind: "start" }]; steps.push({ name: c.multipleType === "ARR" ? "Revenue (ARR) growth" : "EBITDA growth", value: growth, cumulative: cum += growth, kind: "up" }); steps.push({ name: "Margin improvement", value: margin, cumulative: cum += margin, kind: "up" }); steps.push({ name: "Multiple expansion", value: mult, cumulative: cum += mult, kind: "up" }); const adj = c.ev - cum; // reconcile to current EV steps.push({ name: "Net debt change", value: -Math.abs(nd), cumulative: cum = c.ev, kind: "down" }); steps.push({ name: "Current enterprise value", value: c.ev, cumulative: c.ev, kind: "end" }); return { type: c.multipleType + " multiple", steps, summary: { entryValuation: entry, currentValuation: +c.ev.toFixed(0), netDebt: nd, equityValue: +c.equity.toFixed(0), stake: c.stake, stakeEquityValue: +(c.equity * c.stake / 100).toFixed(1), totalValueCreated: +(c.ev - entry).toFixed(0), realisedReturn: 0 }, entry: { revenue: +(c.invested * 0.5).toFixed(1), ebitda: +(c.invested * 0.08).toFixed(1), multiple: c.entryMultiple, margin: 14, invested: c.invested, date: c.entryDate }, developments: { [VCP.QUARTERS[3]]: "Valuation held in line with plan for " + c.name + ". See quarterly pack for detail.", [VCP.QUARTERS[2]]: "On-plan quarter.", [VCP.QUARTERS[1]]: "Baseline.", [VCP.QUARTERS[0]]: "Baseline." }, }; } function valTimeline(c) { if (c.id === "helios") return VCP.heliosValuationTimeline; return VCP.QUARTERS.map(q => { const f = QFACTOR[q]; return { q, ev: +(c.ev * f).toFixed(0), equity: +(c.equity * f).toFixed(0), mm: +(c.mm * (0.85 + 0.15 * f)).toFixed(2), irr: Math.round(c.irr * (0.85 + 0.15 * f)) }; }); } /* ---- legal structure: tidy-tree auto-layout + realistic PE stacks ---- */ function layoutStructure(entities) { const NODE_W = 200, HGAP = 38, VGAP = 122; const children = {}; entities.forEach(e => { if (e.parent) (children[e.parent] = children[e.parent] || []).push(e.id); }); const root = entities.find(e => !e.parent); const pos = {}; let leaf = 0; function dfs(id, depth) { const kids = children[id] || []; let x; if (!kids.length) { x = leaf * (NODE_W + HGAP); leaf++; } else { const xs = kids.map(k => dfs(k, depth + 1)); x = (Math.min(...xs) + Math.max(...xs)) / 2; } pos[id] = { x, y: depth * VGAP }; return x; } dfs(root.id, 0); const nodes = entities.map(e => ({ ...e, x: pos[e.id].x, y: pos[e.id].y, w: NODE_W })); const edges = entities.filter(e => e.parent).map(e => ({ from: e.parent, to: e.id, own: e.own != null ? e.own : 100, vote: e.vote != null ? e.vote : (e.own != null ? e.own : 100) })); return { nodes, edges }; } const reg1 = s => "NL" + (8600 + s.charCodeAt(0)) + ".71.2" + (10 + s.charCodeAt(1) % 80); const reg2 = s => "NL" + (8400 + s.charCodeAt(1)) + ".33.1" + (10 + s.charCodeAt(0) % 80); const heliosStructure = (() => { const ents = [ { id: "nb", name: "Northbridge Capital B.V.", country: "NL", reg: "NL8112.45.901", role: "Fund manager", board: ["P. Janssen (Managing Partner)", "S. Bakker (Director)"] }, { id: "coop", parent: "nb", own: 100, name: "Northbridge Fund I Coöperatief U.A.", country: "NL", reg: "NL8221.06.334", role: "Fund vehicle", board: ["Northbridge Capital B.V. (Director)"] }, { id: "topco", parent: "coop", own: 75, vote: 80, name: "NB Helios TopCo B.V.", country: "NL", reg: "NL8634.71.220", role: "HoldCo · sweet equity", capTable: true, board: ["P. Janssen", "A. Visser (CEO)", "Stichting STAK Helios"] }, { id: "midco", parent: "topco", own: 100, name: "NB Helios MidCo B.V.", country: "NL", reg: "NL8634.71.221", role: "Shareholder loans", board: ["P. Janssen", "S. Bakker"] }, { id: "bidco", parent: "midco", own: 100, name: "NB Helios BidCo B.V.", country: "NL", reg: "NL8634.71.222", role: "Senior facility", board: ["P. Janssen", "I. Mol (CFO)"] }, { id: "opco", parent: "bidco", own: 100, name: "Helios Software B.V.", country: "NL", reg: "NL8459.33.118", role: "Platform · OpCo", board: ["A. Visser (CEO)", "M. de Wit (CCO)", "I. Mol (CFO)"] }, { id: "de", parent: "opco", own: 100, name: "Helios Analytics GmbH", country: "DE", reg: "HRB 274119", role: "Operating subsidiary", board: ["L. Bergman (Geschäftsführer)"] }, { id: "uk", parent: "opco", own: 100, name: "Helios Insights Ltd", country: "UK", reg: "UK 11820934", role: "Bolt-on · 2024", addOn: true, board: ["A. Visser", "R. Hughes (MD)"] }, ]; return Object.assign({ workspace: { name: "Helios fund-holding structure", type: "Fund / SPV", registration: "NL" } }, layoutStructure(ents), { capTable: { entity: "NB Helios TopCo B.V.", rows: [ { holder: "Northbridge Fund I Coöperatief U.A.", cls: "Ordinary A", inst: "Equity", own: 75, vote: 80 }, { holder: "STAK Helios Management (sweet equity)", cls: "Ordinary B", inst: "Equity", own: 18, vote: 15 }, { holder: "De Vroom Participaties B.V. (CEO co-invest)", cls: "Ordinary A", inst: "Equity", own: 7, vote: 5 }, ], }, instruments: [ { entity: "NB Helios TopCo B.V.", type: "Sweet equity (Ordinary B)", holder: "STAK Management", amount: "18%", note: "3-year vesting" }, { entity: "NB Helios MidCo B.V.", type: "Shareholder loan note", holder: "Northbridge Fund I", amount: "€14.0M", note: "PIK 8%" }, { entity: "NB Helios BidCo B.V.", type: "Senior facility (Term + RCF)", holder: "Bank syndicate", amount: "€22.0M", note: "E + 450bps" }, ], kyc: [ { name: "UBO register extract.pdf", entity: "NB Helios TopCo B.V.", modified: "2025-04-02" }, { name: "Shareholders agreement (STAK).pdf", entity: "NB Helios TopCo B.V.", modified: "2021-05-19" }, { name: "Facilities agreement.pdf", entity: "NB Helios BidCo B.V.", modified: "2021-05-20" }, { name: "Deed of incorporation.pdf", entity: "Helios Software B.V.", modified: "2021-05-20" }, { name: "Handelsregister extract.pdf", entity: "Helios Analytics GmbH", modified: "2024-11-14" }, ], }); })(); const kasparStructure = (() => { const ents = [ { id: "nb", name: "Northbridge Capital B.V.", country: "NL", reg: "NL8112.45.901", role: "Fund manager", board: ["P. Janssen", "S. Bakker"] }, { id: "coop", parent: "nb", own: 100, name: "Northbridge Fund I Coöperatief U.A.", country: "NL", reg: "NL8221.06.334", role: "Fund vehicle", board: ["Northbridge Capital B.V."] }, { id: "topco", parent: "coop", own: 70, vote: 75, name: "NB Kaspar TopCo B.V.", country: "NL", reg: "NL8640.55.118", role: "HoldCo · cap table", capTable: true, board: ["P. Janssen", "E. Schmidt (CEO)", "STAK Kaspar"] }, { id: "bidco", parent: "topco", own: 100, name: "NB Kaspar BidCo B.V.", country: "NL", reg: "NL8640.55.119", role: "Acquisition · senior debt", board: ["P. Janssen", "T. Reinder"] }, { id: "plat", parent: "bidco", own: 100, name: "Kaspar Foods B.V.", country: "NL", reg: "NL8112.90.554", role: "Buy-and-build platform", board: ["E. Schmidt (CEO)", "Group CFO"] }, { id: "a1", parent: "plat", own: 100, name: "Van Dijk Bakkerijen B.V.", country: "NL", reg: "NL8233.41.020", role: "Add-on · 2021", addOn: true, board: ["J. van Dijk (MD)"] }, { id: "a2", parent: "plat", own: 100, name: "De Vries Sauzen B.V.", country: "NL", reg: "NL8401.77.331", role: "Add-on · 2022", addOn: true, board: ["K. de Vries (MD)"] }, { id: "a3", parent: "plat", own: 90, vote: 90, name: "Nordic Snacks AB", country: "SE", reg: "SE 556987-1122", role: "Add-on · 2023", addOn: true, board: ["A. Lindqvist (VD)"] }, { id: "a4", parent: "plat", own: 100, name: "Alpen Feinkost GmbH", country: "DE", reg: "HRB 188204", role: "Add-on · 2024", addOn: true, board: ["M. Bauer (GF)"] }, ]; return Object.assign({ workspace: { name: "Kaspar buy-and-build structure", type: "Fund / Platform", registration: "NL" } }, layoutStructure(ents), { capTable: { entity: "NB Kaspar TopCo B.V.", rows: [ { holder: "Northbridge Fund I Coöperatief U.A.", cls: "Ordinary A", inst: "Equity", own: 70, vote: 75 }, { holder: "STAK Kaspar Management (sweet equity)", cls: "Ordinary B", inst: "Equity", own: 22, vote: 20 }, { holder: "Founders (rollover)", cls: "Ordinary A", inst: "Equity", own: 8, vote: 5 }, ], }, instruments: [ { entity: "NB Kaspar TopCo B.V.", type: "Sweet equity (Ordinary B)", holder: "STAK Management", amount: "22%", note: "ratchet on exit" }, { entity: "NB Kaspar BidCo B.V.", type: "Senior + acquisition facility", holder: "Bank syndicate", amount: "€38.0M", note: "buy-and-build accordion" }, { entity: "NB Kaspar BidCo B.V.", type: "Vendor loan notes", holder: "Add-on vendors", amount: "€6.5M", note: "deferred consideration" }, ], kyc: [ { name: "UBO register extract.pdf", entity: "NB Kaspar TopCo B.V.", modified: "2025-03-30" }, { name: "Platform SPA.pdf", entity: "Kaspar Foods B.V.", modified: "2019-11-12" }, { name: "Nordic Snacks SPA.pdf", entity: "Nordic Snacks AB", modified: "2023-06-18" }, { name: "Alpen Feinkost SPA.pdf", entity: "Alpen Feinkost GmbH", modified: "2024-04-09" }, ], }); })(); function genLegal(c) { if (c.id === "helios") return heliosStructure; if (c.id === "kaspar") return kasparStructure; const s = c.short, stake = c.stake, vote = Math.min(100, stake + 5); const growth = c.typeDeal === "Growth"; const carve = c.typeDeal === "Carve-out"; const ents = [ { id: "nb", name: "Northbridge Capital B.V.", country: "NL", reg: "NL8112.45.901", role: "Fund manager", board: ["P. Janssen", "S. Bakker"] }, { id: "coop", parent: "nb", own: 100, name: c.fundLabel + " Coöperatief U.A.", country: "NL", reg: "NL8221.06.334", role: "Fund vehicle", board: ["Northbridge Capital B.V."] }, { id: "topco", parent: "coop", own: stake, vote, name: "NB " + s + " TopCo B.V.", country: "NL", reg: reg1(s), role: "HoldCo · cap table", capTable: true, board: ["P. Janssen", "Management STAK"] }, ]; let opcoParent = "topco"; if (!growth) { ents.push({ id: "bidco", parent: "topco", own: 100, name: "NB " + s + " BidCo B.V.", country: "NL", reg: reg2(s), role: "Acquisition · senior debt", board: ["P. Janssen", c.name.split(" ")[0] + " CFO"] }); opcoParent = "bidco"; } ents.push({ id: "opco", parent: opcoParent, own: 100, name: c.name + " B.V.", country: "NL", reg: "NL8459.33." + (100 + s.charCodeAt(0) % 90), role: carve ? "Carved-out OpCo · TSA" : "Operating company", board: [c.name.split(" ")[0] + " CEO", c.name.split(" ")[0] + " CFO"] }); if (c.typeDeal === "Buy and build") { ents.push({ id: "a1", parent: "opco", own: 100, name: s + " Bolt-on Group B.V.", country: "NL", reg: "NL8233." + s.charCodeAt(0) + ".010", role: "Add-on · 2023", addOn: true, board: ["Add-on MD"] }); ents.push({ id: "a2", parent: "opco", own: 100, name: s + " International GmbH", country: "DE", reg: "HRB " + (180000 + s.charCodeAt(1)), role: "Add-on · 2024", addOn: true, board: ["Add-on GF"] }); } else if (!growth) { ents.push({ id: "sub", parent: "opco", own: 100, name: c.name.split(" ")[0] + (c.sector === "Logistics" ? " Freight" : " International") + (c.id === "verbund" ? " NV" : " GmbH"), country: c.id === "verbund" ? "BE" : "DE", reg: c.id === "verbund" ? "BE 0644.221.118" : "HRB " + (190000 + s.charCodeAt(0)), role: "Operating subsidiary", board: ["Local MD"] }); } const mgmtOwn = Math.max(0, 100 - stake - 5); return Object.assign({ workspace: { name: c.name + " holding structure", type: growth ? "Fund / Growth equity" : "Fund / SPV", registration: "NL" } }, layoutStructure(ents), { capTable: { entity: "NB " + s + " TopCo B.V.", rows: [ { holder: c.fundLabel + " Coöperatief U.A.", cls: "Ordinary A", inst: "Equity", own: stake, vote }, { holder: "Management STAK (sweet equity)", cls: "Ordinary B", inst: "Equity", own: mgmtOwn, vote: Math.max(0, 100 - vote) }, { holder: "Founders co-invest", cls: "Ordinary A", inst: "Equity", own: 5, vote: Math.max(0, 100 - vote - Math.max(0, 100 - vote)) }, ], }, instruments: growth ? [{ entity: "NB " + s + " TopCo B.V.", type: "Preferred equity", holder: c.fundLabel, amount: VCP.fmtM(c.invested).replace("EUR ", "€"), note: "1x non-participating" }] : [ { entity: "NB " + s + " TopCo B.V.", type: "Sweet equity (Ordinary B)", holder: "Management STAK", amount: mgmtOwn + "%", note: "vesting" }, { entity: "NB " + s + " BidCo B.V.", type: "Senior facility", holder: "Bank syndicate", amount: VCP.fmtM(c.ev - c.equity).replace("EUR ", "€"), note: "E + 425bps" }, ], kyc: [ { name: "UBO register extract.pdf", entity: "NB " + s + " TopCo B.V.", modified: "2025-04-02" }, { name: "Deed of incorporation.pdf", entity: c.name + " B.V.", modified: c.entryDate }, ], }); } /* ---- Overview ---- */ function CompanyOverview({ state, go }) { const c = VCP.companyById(state.companyId); const [edit, setEdit] = useState(false); const fin = c.id === "helios" ? VCP.heliosFinancials : null; const tasks = VCP.allTasks.filter(t => t.company === c.id); const trend = VCP.trendOf(c.overallSeries); const links = VCP.quickLinks; return
{/* identity header */}

{c.name}

{c.status}
{c.typeDeal} {c.sector} {c.fundLabel} Entry {c.entry} {c.website}
{ setEdit(e => !e); if (edit) window.vcpToast?.("Company info saved"); }}>{edit ? "Save" : "Edit info"}
{/* key metrics at a glance — all 3 modules */}
At a glance · {state.period}
1 ? "var(--positive)" : "var(--danger)"} />
} mod="C" onClick={() => go({ route: "co-valuecreation", companyId: c.id })} /> go({ route: "co-collaboration", companyId: c.id })} /> 0 ? "var(--danger)" : "var(--ink)"} onClick={() => go({ route: "co-collaboration", companyId: c.id })} />
{/* financial metrics panel (honest) */}
Financial metrics
Sample data · production connects PowerBI
Connect PowerBI
{fin ? {fin.map(r => )}
MetricLEBudgetGrowth YoY
{r.metric} €{r.le}M €{r.budget}M +{r.growth}%
: } {/* quick links + open work */}
Quick links
window.vcpToast?.("Add custom link (demo)")} />
{links.map(l => )}
Open work
{tasks.slice(0, 4).map(t =>
{t.priority[0].toUpperCase()} {t.name} {t.due}
)}
; } function GlanceCard({ label, value, mod, sub, color, onClick }) { return
{label}
{mod}
{value}
{sub &&
{sub}
}
; } function finTh(align) { return { textAlign: align, padding: "6px", fontSize: 10.5, textTransform: "uppercase", letterSpacing: "0.04em", color: "var(--ink-soft)", fontWeight: 600, borderBottom: "1px solid var(--line)" }; } /* ---- Oversight: Valuation + Structure ---- */ function CompanyOversight({ state, go }) { const c = VCP.companyById(state.companyId); const [tab, setTab] = useState("valuation"); return
{tab === "valuation" ? : }
; } function ValuationView({ c }) { const tl = valTimeline(c); const bridge = buildBridge(c); const [selQ, setSelQ] = useState("25Q2"); const [edit, setEdit] = useState(false); const sel = tl.find(p => p.q === selQ) || tl[tl.length - 1]; const s = bridge.summary; return
window.vcpToast?.("Exported portfolio report to Word")}>Export to Word { setEdit(e => !e); if (edit) window.vcpToast?.("Valuation saved"); }}>{edit ? "Done editing" : "Edit"}
Equity value timeline
p.equity} format={v => "€" + v + "M"} selected={selQ} onSelect={setSelQ} height={170} />
Quarter detail · {selQ}
{edit && Editing}
{[["Invested capital", VCP.fmtM(bridge.entry.invested).replace("EUR ", "€")], ["Equity value", "€" + sel.equity + "M"], ["Money multiple", sel.mm.toFixed(2) + "x"], ["IRR", sel.irr + "%"]].map(([l, v]) =>
{l}
{v}
)}
Entry data
{[["Entry revenue", "€" + bridge.entry.revenue + "M"], ["Entry EBITDA", "€" + bridge.entry.ebitda + "M"], ["Entry multiple", bridge.entry.multiple + "x"], ["Entry margin", bridge.entry.margin + "%"]].map(([l, v]) =>
{l} {v}
)}
{/* value bridge waterfall */}
Value bridge · entry to {selQ}
Enterprise value attribution · {bridge.type}
€{s.totalValueCreated}M created
{[["Entry valuation", "€" + s.entryValuation + "M"], ["Current valuation", "€" + s.currentValuation + "M"], ["Net debt", "€" + s.netDebt + "M"], ["Equity value", "€" + s.equityValue + "M"], ["Northbridge stake", s.stake + "%"], ["Northbridge equity value", "€" + s.stakeEquityValue + "M"], ["Total value created", "€" + s.totalValueCreated + "M"], ["Realised return", "€" + s.realisedReturn + "M"]].map(([l, v]) =>
{l}
{v}
)}
{/* developments + docs */}
Quarterly developments · {selQ}

{bridge.developments[selQ] || bridge.developments["25Q2"]}
Valuation documents
window.vcpToast?.("Upload (demo)")} />
{[{ name: "Valuation workbook " + selQ + ".xlsx", by: "S. Bakker", modified: "2025-05-30", size: "1.4 MB" }, { name: "Bridge analysis.pptx", by: "Northvalue", modified: "2025-05-28", size: "3.1 MB" }].map((d, i) =>
{d.name}
{d.by} · {d.modified}
window.vcpToast?.("Downloading")} />
)}
; } function StructureView({ c }) { const data = genLegal(c); const [edit, setEdit] = useState(false); const [sel, setSel] = useState(null); const capTotal = data.capTable.rows.reduce((a, r) => a + r.own, 0); return
{data.workspace.name} · {data.nodes.length} entities
{edit && window.vcpToast?.("Add entity (demo)")}>Add entity} {edit && window.vcpToast?.("Add ownership (demo)")}>Add ownership} { setEdit(e => !e); if (edit) window.vcpToast?.("Structure saved · ownership totals validated"); }}>{edit ? "Save layout" : "Edit"}
Cap table · {data.capTable.entity}
{data.capTable.rows.map(r => )}
ShareholderClassInstrumentOwn.Vote
{r.holder} {r.cls} {r.inst} {r.own}% {r.vote}%
Total{capTotal}%
Funding instruments
{data.instruments.map((ins, i) =>
{ins.type}
{ins.entity} · {ins.holder}{ins.note ? " · " + ins.note : ""}
{ins.amount}
)}
KYC documents
{data.kyc.map((d, i) =>
{d.name}
{d.entity} · {d.modified}
window.vcpToast?.("Downloading")} />
)}
setSel(null)} width={400} eyebrow={sel && sel.country + " · " + sel.role} title={sel ? sel.name : ""}> {sel &&
{sel.country} {sel.capTable && Cap table entity} {sel.addOn && Buy-and-build add-on}
{[["Role", sel.role], ["Registration", sel.reg], ["Ownership by parent", sel.own != null ? sel.own + "%" + (sel.vote != null && sel.vote !== sel.own ? " (vote " + sel.vote + "%)" : "") : "—"]].map(([l, v]) => v &&
{l}{v}
)}
Management board
{(sel.board || []).map(m =>
{m}
)} {(!sel.board || !sel.board.length) && No board recorded.}
{sel.capTable &&
This entity holds the deal cap table. See the cap table panel for share classes, instruments, ownership, and voting.
}
}
; } Object.assign(window, { CompanyOverview, CompanyOversight, buildBridge, valTimeline, genLegal, GlanceCard });