About SET Ventures
SET Ventures is a venture capital firm founded in 2007. It is primarily based out of Amsterdam, Netherlands. As of Jul 2026, SET Ventures is an active investor, having invested in 38 companies, with 3 new investments in the last 12 months. It primarily invests in Series A round in Germany based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Real Estate and Construction Tech and High Tech. Most recently it participated in the $***** Series B round of Fuchs & Eule Overall, SET Ventures portfolio has seen 2 IPOs and 12 acquisitions including key companies like General Fusion, Sonnen and GreenCom Networks. A lot of funds co-invest with SET Ventures, with names like Munich Venture Partners sharing a substantial percentage of its portfolio. SET Ventures has team of 19 people including 6 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 1 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
SET Ventures' List of Top Investments
SET Ventures has a portfolio of 38 companies. Their most notable investments are in Luxexcel and Luxexcel.Their portfolio spans across Germany, Netherlands, United Kingdom and 10 more locations. They have invested in Enterprise Applications, Real Estate and Construction Tech, High Tech and 17 other sectors, across stages such as Series A, Series B and 1 more. Here is the list of top investments by SET Ventures:General Fusion is a developer of a magnetized nuclear fusion reactor. The reactor consists of 3 main components, a plasma injector, which converts hydrogen fuel into plasma & holds in a magnetic field; liquid metal wall, which compresses the plasma & captures the energy released; piston array, which collapses liquid metal vortex & shockwave formation by plasma compression. The hot liquid metal is used to operate a heat exchanger by producing power.
Key facts about General Fusion
- Founded Year: 2002
- Location: Burnaby (Canada)
- Stage: Public
- Total Funding till date: $515M
- Employee Count: 158 as on Sep 30, 2026
- Investors: Khazanah Nasional Berhad, GIC and 44 Others
- Latest Funding Round: Conventional Debt, Nov 27, 2025, $*****
- Highlight: Public
2. Instagrid
Manufacturer of portable power supplies providing sustainable and reliable energy. These power supplies offer an alternative to traditional generators. The product line includes a fleet management application. The company focuses on reducing emissions and lowering operational costs.
Key facts about Instagrid
- Founded Year: 2006
- Location: Ludwigsburg (Germany)
- Stage: Series C
- Total Funding till date: $145M
- Employee Count: 198 as on Sep 30, 2026
- Investors: SET Ventures, Energy Impact Partners and 11 Others
- Latest Funding Round: Series C, Jan 23, 2024, $*****
- Highlight: Editors' Pick
3. Sonnen
Developer of energy storage systems and smart energy solutions hardware. The company focuses on intelligent home energy storage and virtual power plants. It provides hardware and electricity contracts. The company aims to provide access to clean and affordable energy.
Key facts about Sonnen
- Founded Year: 2010
- Location: Wildpoldsried (Germany)
- Annual Revenue: €100M - €500M as on Dec 31, 2021
- Stage: Acquired
- Total Funding till date: $180M
- Employee Count: 511 as on Sep 30, 2026
- Investors: Shell, SET Ventures and 9 Others
- Latest Funding Round: Conventional Debt, Jan 17, 2019, $*****
- Highlight: Acquired
4. ADDX
App-based alternative investment platform for private companies. It allows users to invest in hedge funds, unicorns, and pre-IPO companies. Users can cash out on any investments without any lock-ups. It allows users to invest directly in digital tokens offered by a company before they start trading on the exchange. The platform is available for both individual investors and corporate investors.
Key facts about ADDX
- Founded Year: 2017
- Location: Singapore (Singapore)
- Stage: Series A
- Total Funding till date: $140M
- Employee Count: 85 as on Sep 30, 2026
- Investors: Temasek, SET Ventures and 28 Others
- Latest Funding Round: Series A, Nov 14, 2022, $*****
- Highlight: Editors' Pick
5. EnOcean
Provider of energy harvesting wireless technology for sustainable IoT solutions. The company offers kinetic switches, self-powered sensors, and related components. These products cater to smart spaces, building automation, and energy efficiency applications. Additionally, it provides transceivers, gateways, actuators, and IoT software development tools.
Key facts about EnOcean
- Founded Year: 2001
- Location: Oberhaching (Germany)
- Stage: Series B
- Total Funding till date: $36.8M
- Employee Count: 69 as on Sep 30, 2026
- Investors: Cipio Partners, SET Ventures and 14 Others
- Latest Funding Round: Series B, 2023, $*****
- Highlight: Editors' Pick
SET Ventures' Year-on-Year Investment Trends
SET Ventures has invested in 38 companies over the last 17 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 4 investments, while as of Jul 2026, it has made 3 investments in this year. Its most recent first time investment was in Galvany and most recent follow-on round was in Fuchs & Eule.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 1 | 3 |
2025 | 3 | 1 | 4 |
2024 | 2 | 1 | 3 |
2023 | 3 | 2 | 5 |
2022 | 5 | 3 | 8 |
2021 | 2 | 2 | 4 |
2020 | 2 | 2 | 4 |
2019 | 3 | 2 | 5 |
2018 | 1 | 1 | 2 |
2017 | 3 | 1 | 4 |
SET Ventures' Investments by Stage
SET Ventures has made 22 investments in Series A stage with an average round size of $10.9M, 9 investments in Series B stage with an average round size of $15.5M and 6 investments in Seed stage with an average round size of $7.98M.Stage of entry | No. of Investments |
|---|---|
Series A | 22 |
Series B | 9 |
Seed | 6 |
Note: We have considered here, only first round of investments
SET Ventures' Investments by Sector
SET Ventures has a diverse portfolio, with companies operating in the Energy Tech, Sustainability Tech, Environment Tech, High Tech and Enterprise Applications. Notably, it has invested in 29 Enterprise (B2B) companies, 28 Tech companies, 22 Software companies and at least 12 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
Energy Tech | 22 |
Sustainability Tech | 22 |
Environment Tech | 20 |
High Tech | 17 |
Enterprise Applications | 14 |
Others | 64 |
Note: We have considered here, only first round of investments
SET Ventures' Investments by Geography
SET Ventures has made most investments in Germany (11), followed by Netherlands where it has made 9 investments.Country | No. of Investments |
|---|---|
Germany | 11 |
Netherlands | 9 |
United Kingdom | 6 |
Austria | 2 |
France | 2 |
Others | 8 |
Note: We have considered here, only first round of investments
SET Ventures' recent investments
SET Ventures has made 3 investments in 2026 so far. Fuchs & Eule and Galvany are the latest among them.Here are the most recent investments by SET Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 08, 2026 | Germany | Series B | 1980 | [+4] | |
Jun 08, 2026 | United Kingdom | Seed | 2499 | ||
Apr 23, 2026 | France | Series A | 6108 | ||
Dec 11, 2025 | Norway | Series A | 9764 | [+3] | |
Jun 30, 2025 | Netherlands | Seed | 4914 | [+2] |
IPOs and Publicly Listed companies in SET Ventures' Portfolio
2 of SET Ventures' portfolio companies have become public. General Fusion got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jul 2026.Here are SET Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 13, 2026 | May 05, 2011 | Series B | 5868 | |
- | Dec 16, 2010 | Series A | 3492 |
Acquired companies in SET Ventures' Portfolio
12 companies from SET Ventures' portfolio have been acquired. The most recent acquisition was Energyworx in Sep 2025 by Gridspertise for $*****.Here are SET Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 19, 2025 | Oct 11, 2016 | Series A | 9961 | |
Jan 21, 2025 | Jan 28, 2022 | Series B | 7504 | |
Dec 28, 2022 | May 31, 2013 | Series A | 4511 | |
Nov 30, 2022 | Feb 08, 2019 | Series B | 3461 | |
Oct 06, 2022 | Dec 01, 2014 | Series B | 6966 |
Team profile of SET Ventures
SET Ventures has a team of 19 members including 6 Partners located in Netherlands, Germany and 2 more locations. SET Ventures' team sits on the board of 1 company.Here is a list of top team members in SET Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Amsterdam | - | ||
Partner | Netherlands | |||
Partner | Amsterdam | - | ||
Partner | Houston | - | - | |
Partner | Hamburg | - | - | |
Partner | London | - | - | |
Partner | Germany | - | - |
Co-investors of SET Ventures
Over the past 17 years, 190 investors have co-invested in SET Ventures's portfolio companies. This includes funds and angels.
- Invested before SET Ventures: Europa, FORWARD.one and 65 others have invested in rounds before SET Ventures. There are 4 companies where Europa has invested before SET Ventures and 2 companies where FORWARD.one has invested before SET Ventures.
- Top Co-investors of SET Ventures: 56 investors entered a company along with SET Ventures. These include investors like Munich Venture Partners (2 companies).
- Invested after SET Ventures: A total of 67 investors have invested in SET Ventures's portfolio after their investments. Top Investors include Microsoft (2 companies), Shell (2 companies) and European Investment Bank (2 companies).
Recent News related to SET Ventures
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Profitable German heat pump platform GALVANY closes €10 million Seed round after sevenfold revenue growthEU-Startups•Jun 08, 2026•Galvany, SET Ventures, AENU
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Decade Energy Secures €22M to Scale Europe’s Depot Power Infrastructure for Truck ElectrificationStartup Rise EU•Apr 23, 2026•Decade, Eiffel Investment Group, SET Ventures, Ananda Impact Ventures and 1 other
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Optics11 secures €25M EIB loan for subsea and energy securityEU-Startups•Jan 16, 2026•Optics11, Vrije Universiteit Amsterdam, SET Ventures, Squarespace and 1 other
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Spoor secures €8M for AI wildlife monitoring in wind farms, driven by rising protection needsEU-Startups•Dec 11, 2025•SET Ventures, Orsted, EnBW New Ventures, Spoor and 1 other
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Multiverse Computing Raises $215M to Boost LLM Rollout, Valuation Jumps 5xZephyrnet•Jun 16, 2025•Multiverse Computing, Bullhound Capital, HP Tech Ventures, ForgePoint Capital and 6 others
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Amsterdam’s Optics11 reportedly raises €17M to protect sea-lanes, offshore infrastructure, and energy supply Silicon Canals•May 13, 2025•Optics11, FORWARD.one, SET Ventures, Join Capital
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Avid Ventures closed $87M Fund II to back transformative software and fintech startupsTech Funding News•Sep 20, 2024•Avid Ventures, Costanoa, SET Ventures
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Costanoa Ventures closes $394M in two new funds, focuses on AI investmentsTech Funding News•Sep 19, 2024•Salesforce Ventures, SET Ventures
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Dutch clean energy investor SET Ventures lands new €200 million fund, which will go toward digital techTechCrunch+•Sep 04, 2024•SET Ventures, Triodos Investment Management, Sensorfact, Sonnen and 1 other
