1.Introduction
SET Management B.V. (the Manager, we or us) provides you with this external privacy notice (Privacy Notice) on behalf of the Manager and the funds as further detailed in Schedule 1 (the Funds).
In the context of our activities as an independent investment company, we collect, hold, use and/or otherwise process personal data. Based on applicable data protection and privacy law (such as the General Data Protection Regulation (GDPR) and the Dutch GDPR Implementation Act (UAVG)), the Manager qualifies as controller with respect to the personal data that we process in that context.
We understand that your privacy is important and that you care about how your personal data is used. We respect and value your privacy and will only collect and use personal data in the manner and for the purposes as described in this Privacy Notice and that is consistent with our obligations and your rights under the applicable legislation and regulations.
2. Joint controllership
In the context of our activities in relation to the Funds for which we act as Manager we shall qualify as joint controller together with each of the individual Funds and we will process your personal data in accordance with this Privacy Notice. A complete overview of these Funds is included in Schedule 1.
We will serve as your first point of contact with respect to the collection and processing of your personal data and/or questions relating to this Privacy Notice. Please find our contact details in paragraph 14 below.
3. Information about us
SET Management B.V.
Registered in the Netherlands with the Dutch Chamber of Commerce (Kamer van Koophandel) under number 53866142
Address: Keizersgracht 756, 1017 EZ Amsterdam
4. What does this Privacy Notice cover and whose personal data do we process?
This Privacy Notice is intended to ensure compliance with European and Dutch privacy legislation and regulations, including but not limited to the GDPR and UAVG.
This Privacy Notice is relevant for anyone whose personal data we may process in the context of our (business) activities, including but not limited to:
- investors and prospective investors in the Funds and individuals acting for, or on behalf of, or otherwise providing us with personal data with regard to (prospective) investors in the Funds (Investors);
- directors, authorized representatives, employees and/or (other) contact persons of our current and former contracting parties, including (potential) investee companies and/or business partners;
- directors, authorized representatives, employees and/or (other) contact persons of our current and former advisers, consultants and service providers; and
- visitors of our website.
- hereinafter collectively referred to as: “you”
This Privacy Notice explains on what legal basis we may process your personal data and:
- what personal data we collect;
- for what purposes and how we may use/process such personal data;
- how we collect the personal data;
- how we store the personal data;
- for what period we store the personal data; and
- what your rights are under the applicable data protection and privacy legislation.
We encourage you to fully and carefully read this Privacy Notice. From time to time, it may be necessary to amend this Privacy Notice. This may be necessary, for instance, in case of changes in legislation and regulations or if our activities change in such a manner that the ways how we process personal data are affected. The most recent version of this Privacy Notice will always be available on our website www.setventures.com. Furthermore, if applicable, the most recent version of the Privacy Notice will be available to Investors in the investor subscription portal. You may also ask us to send you a copy of the most recent version of this Privacy Notice.
In the event that the Privacy Notice will materially and/or substantially change, we will actively inform you of this change and provide you with the new version of the Privacy Notice.
Note: where you provide us with personal data regarding another individual than yourself (e.g. a representative, director or UBO of the company you represent), please provide the concerned individual with (a copy of) this Privacy Notice, prior to providing his/her personal data to us.
5. How do we collect your personal data?
We may collect your personal data in different ways:
- directly from you, for example when you provide us with your personal information by telephone, email or other correspondence;
- directly from you, for example when you engage in business with us, for example by subscribing to our Funds as an Investor;
- directly from you when you visit our website, which may include information you provide to us by means of contact forms on that website;
- from third parties, for example tax authorities, credit agencies, governmental and competent regulatory authorities, external advisers, head hunters, recruitment agencies;
- from the company you work for or your (legal) representative(s); and
- otherwise, for example, from public sources such as the trade register, public directories or your website.
- Legal bases for processing
We process your personal data based on one of the following legal grounds:
- the processing is necessary for the performance of a contract to which you are party (or in order to take the necessary steps prior to entering into a contract with you);
- the processing is necessary to comply with our legal obligations;
- the processing is necessary for the purposes of the legitimate interests pursued by us; and
- the processing is based on consent.
If we process your personal data based on your consent (4) (which may be the case for marketing purposes) we hereby inform you that you have the right to withdraw your consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal.
6. What personal data do we collect and for what purposes do we use your personal data?
- Investors, investee companies and other business relations that need to be screened for anti-money laundering purposes
We collect and process (part of) the following personal data on you as an Investor and any ultimate beneficial owner within the structure (if applicable):
- name and date and place of birth;
- contact details, including addresses, phone numbers and email addresses;
- bank details and other financial data, such as: (annual) financial statements, (income) tax statements, taxpayer identification number and accounting data;
- information on your participations, investments, income, profits and losses;
- business contact details, company name and job title;
- copies of your passport, ID-card and/or other identification data;
- information from public registers, such as excerpts from the Dutch Chamber of Commerce (Kamer van Koophandel);
- information from external sources (search engines, sector specific news articles, social media) which we combine with the data that we collect from you ourselves, in order to construct a more comprehensive and accurate set of information on you;
- information relating to anti-money laundering and anti-abuse legislation, such as identification data and (where relevant) additional information if you are a regarded as a ‘politically exposed person’; and signatures.
| Purpose | Legal Ground |
| To (be able to) provide our services to you and/or our Investors and to comply with our contractual obligations in that respect. | 1 or 3 |
| To (be able to) administer, execute and/or manage your investment(s) in the Fund. | 1 or 3 |
| To comply with the legal obligations to which we are subject in relation to tax legislation, anti-abuse and anti-money laundering, KYC obligations, including on the basis of the Dutch Prevention of Money Laundering and Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme) and the Dutch Sanction Act (Sanctiewet 1977), obligations of the Dutch Act of Financial Supervision (Wet op het financieel toezicht) and other legal obligations. | 2 |
| To keep administrative records, for instance of investors, debtor and creditor administration, and relationship management. | 2 or 3 |
| Where the clients or data subjects act as a representative or agent of our investors, for the purposes of providing our services and/or administering, executing and/or managing investment(s) in the Fund. | 3 |
| For communication purposes, such as the processing of and responding to your requests, inquiries and complaints, the maintenance of business relations (if you are employed by our investors, participations, service providers or advisors). | 3 |
| To establish, exercise, or defend our legal position and rights. | 3 |
| For analytics and research purposes, for instance in relation to the prevention of fraud and abuse, but also to improve our services. | 3 |
| For marketing purposes, which in our view may be relevant for you, to send newsletters, press releases and to inform you of new investment opportunities if you are an investor in the Fund, or with based on your consent. | 3 and 4 |
7.2 Others
- We collect and process (part of) the following personal data on you as referred to under 4:
- name and date and place of birth;
- contact details, including addresses, phone numbers and email addresses;
- bank details and other financial data, such as: bank account details;
- business contact details, company name and job title;
- information from public registers, such as excerpts from the Dutch Chamber of Commerce (Kamer van Koophandel);
- information from external sources (search engines, sector specific news articles, social media) which we combine with the data that we collect from you ourselves, in order to construct a more comprehensive and accurate set of information on you;
- signatures.
| Purpose | Legal Ground |
| To identify you. | 1 and 3 |
| To (be able to) provide our services to you and/or our Investors and to comply with our contractual obligations in that respect. | 1 and 3 |
| In order to enter into and execute the agreement / services and the management of relationships resulting therefrom. | 1 and 3 |
| The execution of activities aimed at increasing/improving the client database. | 3 |
| To contact you / to communicate with you, for example via email correspondence and/or telephone calls. | 1 and 3 |
| Financial administration and tax administration purposes, to send you our invoices, to collect debts. | 1 and 2 |
| To establish, exercise, or defend our legal position and rights. | 3 |
| For purposes of business continuity. | 3 |
| For marketing purposes, to inform you of new or similar products or services and to run and coordinate promotional events. | 3 and 4 |
| To conduct research and analysis and to improve our services, products, webstore and the quality thereof. | 3 |
8. How long will we keep your personal data?
The personal data from Investors will be kept confidential throughout the life cycle of the relevant Fund(s) in which context we collect and process your personal data and in principle five years after the termination thereof. However, with regard to all personal data we process (including those of Investors) we will not store or keep your personal data for a longer period than is necessary in light of the purposes for which we process them (we refer to the purposes as listed above in paragraph 7). Only where we are legally obliged to, or where this is necessary for defending our interests in the context of judicial proceedings, we will store your personal data for longer periods.
9. With whom do we share your personal data?
We may share your personal data with third parties if this is necessary and legitimate in light of the purposes indicated above. These third parties may include:
- our group entities;
- funds, fund managers, investment vehicles and other parties in which we participate (either in your name or on your behalf or in the name or on behalf of our investors);
- affiliated or external parties that provide services to us;
- banks and advisors, such as attorneys, accountants, notaries etc.;
- governments, judicial and supervisory authorities, such as the Tax Authority (Belastingdienst), the Dutch Central Bank (De Nederlandsche Bank), the Financial Markets Authority (Autoriteit Financiële Markten) and the Dutch Data Protection Authority (Autoriteit Persoonsgegevens);
- external auditors;
- (potential) buyers or merging parties and advisors of those parties, in the context of a proposed merger, acquisition; sale or divestiture of (a part) of our activities; and
- our participations.
These parties may be situated or operating outside of the European Economic Area (EEA). Where we transfer your personal data outside the EEA, we will do so based on appropriate safeguards, such as (i) an adequacy decision from the European Commission, (ii) the standard contractual clauses as drafted and adopted by the European Commission, (iii) another valid transfer mechanism pursuant to the GDPR. For more information on international transfers, or to receive a copy of the relevant safeguards applied by us, you can contact us via our contact details, as included below in paragraph 14.
10. How do we protect your personal data?
We have taken technical and organizational security measures to protect your personal data as adequately as possible against destruction, loss, alteration and unauthorized access, storage or other processing operations.
Further, we seed to ensure that we keep your personal data accurate and up to date. In that respect, we kindly request that you actively inform us of any changes to your personal data (such as a change in your contact details).
11. What are your other rights?
Based on the GDPR and the UAVG, you shall have the following rights:
- the right of access and information regarding your personal data;
- the right to rectification of your personal data;
- the right of erasure (i.e. the right to be forgotten);
- the right to object to the processing of your personal data; and
- the right to receive your personal data in a structured, commonly used and machine-readable format and to (have) transmit(ted) your personal data to another organization.
To exercise your rights, you can contact us via our contact details, set forth below in paragraph 12. Finally, you also have the right to lodge a complaint to the local data protection authority. The contact details of the Dutch Data Protection Authority (Autoriteit Persoonsgegevens) are as follows: Bezuidenhoutseweg 30 (2594 AV), The Hague; telephone no. +31 (0)88 – 1805 250.
12. Automated decision making and profiling
We do not undertake any automated decision making or profiling.
13. Cookies
We may use cookies on our website, for more information on the use of cookies we refer to our cookie policy available via: Cookie Policy (EU) – SET Ventures
If you have any questions, remarks or complaints about how we process your personal data, if you want to exercise your rights or if you have any questions about the contents of this Privacy Notice, please contact us at [email protected].
14. Contact details
If you have any questions, remarks or complaints about how we process your personal data, if you want to exercise your rights or if you have any questions about the contents of this Privacy Notice, please contact us at [email protected].
Schedule 1
This Privacy Notice applies to the data processing of the Manager and the Funds. The following entities are in any case covered by the definition of the Funds:
- Sustainable Energy Technology Fund C.V.
- SET Fund II C.V.
- SET Fund III C.V.
- Stichting SET Holding II CMF
- SET Fund II Side Fund C.V.
- SET Fund IV Coöperatief U.A.