Seed through Series B. Lead or co-lead.
Approach.
This page sets out how the firm invests. It is intended to be read once in full. The same statement is given to every founder we meet — there is no private version.
Europe, Asia, Africa, Gulf region. Industrial and infrastructural technology only.
Technical diligence is led in-house by the investment team.
We expect to remain on the register through subsequent rounds and into a strategic outcome.
Mandate
One sector: the energy transition. We back technical companies across clean-power generation, hydrogen and green molecules, storage, and grid infrastructure. The four domains are stated on the home page as a field atlas; the focus areas underneath them are not marketing categories — they are the actual sub-sectors where we place capital and spend diligence time.
Stage & cheque
Seed through Series B. We lead or co-lead. Initial positions sit in the low single-digit millions of euro, with meaningful reserves for follow-on. We do not make positions below our lead-size threshold simply to keep an option open.
Diligence
Technical diligence is done in-house by the investment team — not outsourced to advisors, not delegated to reference calls. Every investment decision is written down. The sponsoring member drafts the memo; a second member reviews against the standing thesis for the relevant field. Dissents are recorded in the file and re-read at year-end.
Horizon
We write our first cheque expecting to remain on the register through the second and third rounds, and often into a strategic outcome. The best energy companies take a decade to become obviously valuable. Our capital is structured so that we can wait; our board posture is that we are not the forcing function.
Geography
Europe, Asia, Africa, Gulf region. These are the markets where the firm has operated for long enough to know the regulators, the utilities, the grid operators, and the project-development ecosystems. We do not underwrite markets we do not understand, regardless of how attractive the individual opportunity looks on paper.
Governance
We take a board seat where it is helpful, and an observer seat where it is not. Founders should receive focused attention from us, not a dashboard of ceremonial governance. We do not chair compensation committees. We do not insist on veto rights that would slow a capable CEO.
What the firm declines
The following are declined without further discussion, regardless of commercial merit:
- Offset-led climate business models.
- Residential / consumer-software-only energy products.
- Subsidy-farming projects with no path to unsubsidised economics.
- Companies whose “platform” is a dashboard on someone else's hardware.
- Fusion companies whose differentiation is marketing rather than physics.
- Mobility-led hydrogen (cars, fuel-cell trucks as flagship use cases).
Conflicts
Disclosed at the point of first exposure to the opportunity, not at closing. Where a conflict exists, the conflicted party does not vote and does not draft the memo. Where the conflict is material to the firm as a whole, the transaction does not proceed.
Contact
One address: contact@orreryy.com. A first email with a short description of what the company does, the stage, and the round being raised is enough to get a substantive reply.
— Orrery