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Since 2007 Amsterdam-based SET Ventures has invested in digital technology for a carbon-free energy system by backing pioneering founders with capital, community, and insights. SET Ventures invests in companies with sustainable solutions and a strong digital DNA leading the systemic change of how energy is generated, distributed, stored, and consumed in sectors such as distributed infrastructure, energy retail, buildings, mobility, and industry as well as enabling technologies.

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Frequently Asked Questions

At what stages do you invest?

We are an investor with a strong focus on accelerating early growth. Typically, that would be a Series A round, but since not everyone has the same definition, we allow ourselves some flexibility towards late seed or a company that has already progressed further along that trajectory. We like to call that Series A (+/-).

How much do you invest?

We usually invest €2 to 5 million in rounds that range from €3 to 10 million. We reserve substantial follow-on capital to follow the winners and can deploy up to €15 million in a single portfolio company.

What does a typical investment round look like?

We like to lead or co-lead investment rounds. We can bring together a syndicate of like-minded investors or work together with relevant parties that you have identified. We like to be represented on a board and ensure the balance between investors and founders through an independent chairperson with strong industry expertise.

What industries do you invest in?

Energy is everywhere: the energy transition breaks down barriers and cuts across all sectors. We invest in digital technologies that advance us toward a carbon-neutral energy system. Check out this page to find out more.

What countries do you invest in?

We invest across all of Europe, with a concentration in the North West (Netherlands, UK, DACH) as the region where we have seen the most digital energy innovations.

What do you want to see before you invest?

The honest answer is: it depends on your business. In a software company defined by the ability to execute and momentum, we need to see product market fit and evidence of healthy sales economics. But we have also invested in companies with strong intellectual property with nothing more than a prototype backed by awesome customer demand.

How can you help me become successful?

We guide portfolio companies on their journey through our expertise and a strong community. We can help you tap into first-class support in areas like business development, hiring and operational expertise. What is important: they are as passionate about the road to a carbon-free future as we are!

Why are you different?

We didn’t jump on climatetech as the latest trend until yesterday. Since 2007, we have been building our reputation as Europe’s leading independent energy venture capital investor. We understand this industry and bring our own experience of success and failures. We have the conviction and patience to be a trusted partner for determined entrepreneurs.

What does the process look like?

Please send your pitch deck to us here. We’ll try to respond within a few days whether we are the right investors for your company. Once we engage, we will schedule a series of meetings over the course of a few weeks to reach an initial conclusion and map out the full process that includes due diligence and legals.

Do you sign an NDA?

Regardless of the paperwork, we are committed to respecting the confidentiality of the information you share with us. If you insist on executing a Non-Disclosure Agreement, we are willing to do so after we have established there is a realistic chance of us working together. That means you will have to share enough to get us excited!

To avoid undue legal reviews, we will only sign the SET standard NDA which is based on terms commonly accepted in the industry.

What do you look for in a founder?

You have a deep drive and intrinsic motivation to be an entrepreneur as well as a growth mindset that supports personal growth. We look for people who have demonstrated achievement and perseverance in business or other pursuits. As a leader, you are committed to building strong teams and helping others succeed.

What is your commitment to achieving real impact?

Our mission is to advance a carbon-free energy system by backing pioneering founders with capital, community & insights to generate outsized financial and impact returns for limited partners and the planet. SET has made a commitment to transparent impact reporting to make this measurable.

Furthermore, the principals of SET Ventures have agreed to link their compensation to the achievement of impact outcomes, in close partnership with European Investment Fund.

Why did you reject me?

That’s an unavoidable part of our job. We invest in less than 1% of the teams that we talk to. We have a narrow investment focus that allows us to be experts in what we do, but it means we pass on many interesting companies that fall outside. Plus, we also may be wrong in many cases. When we decline to participate, we try to give you as much insight into our thinking as we can. If you liked talking to us, please keep us updated on your progress.

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