SET Ventures

SET targets early growth, which it calls Series A(+/-). The firm will consider companies from late seed through to more progressed rounds, as long as the business sits inside its digital energy thesis.

Initial commitments are usually €2-5M in rounds of €3-10M. The firm reserves substantial follow-on capital and can deploy up to €15M in a single portfolio company over time.

The firm invests only in digital energy technologies that make the energy system more hyperlocal, automated, and resilient. Companies outside its six focus areas — Distributed Energy Systems, Digital Utilities, AI & Enabling Technologies, Industrial Energy Management, the Built Environment, and Mobility & Transport — fall outside its mandate.

SET's fourth fund is classified as SFDR Article 9. The firm has publicly committed to linking team compensation to the achievement of impact outcomes, in partnership with the European Investment Fund, and publishes an annual impact report.

SET prefers to lead or co-lead investment rounds and will build a syndicate of like-minded investors or work with parties identified by the portfolio company. It typically seeks a board seat and advocates for an independent chairperson with industry expertise.

The firm invests across Europe, with a concentration in Western Europe — specifically the Benelux region, the United Kingdom, and the DACH countries — where it has observed the highest density of digital energy innovations.

The firm explicitly aims to generate outsized financial and environmental returns. Its impact reporting is transparent and measurable, and the team's economics are partially tied to hitting impact KPIs set in collaboration with the European Investment Fund.