What we do not (yet) expect
For a first investment you do not need to be profitable yet. Nor do you need large revenues or a complete organisation. Those only become important for follow-on investments.
For founders
An investor who helps build your go-to-market
Ormac invests in Dutch digital and AI startups with a working product and first paying customers. Here you can read what we look for, how much we invest and how it works.
What we look for
We do not look for the perfect plan. We look for proof that customers are willing to pay, and for a team that can turn that into growth. We assess six criteria.
- 1
A working product
Can your product really be used in a commercial setting?
The product runs reliably at customers, without manual workarounds. It solves a problem structurally and does not get stuck as a demo or proof of concept. New customers do not require a complete rebuild.
- 2
First paying customers
Are customers really willing to pay?
Customers pay a market-rate price under a signed contract, not out of a grant or a temporary innovation budget. The first deal is the start of a recurring customer relationship.
- 3
Urgency in the market
Is the problem so urgent that customers free up budget for it now?
Customers pay from an operational or strategic budget and build your product into their core processes. Delay costs them money, time or opportunities.
- 4
A complementary team
Can this team turn validation into scalable growth?
There is both technical and commercial strength, with a clear division of roles. The team does not depend on a single key person and works on this company with full focus.
- 5
A scalable model
Can the company grow without costs rising at the same rate?
Ideally there is recurring revenue, low churn and room for upselling, cross-selling or international roll-out.
- 6
A clear use of funds
Where does the money go, and what will it deliver?
The capital is linked to concrete milestones, such as commercial expansion, product improvement or strengthening the team. Once those milestones are reached, a next round or stage is realistic.
What we do not invest in
- Deep tech with a long R&D horizon
- Ideas without a working product
- Propositions that depend on complex legal or regulatory processes before they can go to market
- Companies whose management is also active in other businesses
How we invest
In stages and always alongside other investors. We link every next step to milestones we agree together in advance. With every investment we take a seat on your advisory board.
Seed
€25k – €50k
Usually through a convertible loan. The condition is that at least three other investors take part with a comparable amount. You do not need to set a valuation yet.
Working product and first paying customers
Early growth
€50k – €100k
A mix of convertible loan and equity, with three to five investors holding equal stakes.
Paying customers, first recurring revenue and the beginnings of a scalable sales and marketing structure
Scale-up
€50k – €100k
Per round, in equity, alongside co-investors.
Proven product-market fit, manageable churn and a team ready to scale
Up to €250,000 per company
Submit your planSupport during the first 100 days is free of charge.
Why we invest together. We deliberately do not invest alone. With three to five investors at the table you get more capital, more knowledge and a broader network. The risk is better spread and your next round stands on firmer ground. Not found co-investors yet? We will help you through our network of angel investors, investor clubs and funds.
Frequently asked questions
At what stage do you invest?
From the moment you have a working product and your first paying customers, from seed to scale-up. At an earlier stage, with only an idea or prototype, we do not invest.
How much do you invest?
In the seed stage we invest €25,000 to €50,000. In follow-on rounds it is €50,000 to €100,000 per round. Across all rounds combined, we invest a maximum of €250,000 per company.
Do you invest alone?
No. In the seed stage we invest when at least three other investors take part with a comparable amount. In follow-on rounds we invest with three to five investors holding equal stakes. No co-investors yet? We will gladly help through our network.
Why do you want a seat on the advisory board?
Because that is the heart of smart capital. A good advisory board leads to better decisions, more focus and more confidence among customers and follow-on investors. You gain an experienced sparring partner at board level, not a controller.
What do you mean by go-to-market experience?
We have taken several companies to market ourselves, scaled them and sold them successfully. We know how to choose a target audience, sharpen a proposition, set a price and build a repeatable sales process. We apply that knowledge directly to your company.
How long does it take from submission to investment?
You will hear within two weeks whether your plan is a fit, or within five working days if it is urgent. The full process through to closing usually takes six to ten weeks, depending on due diligence and coordination with co-investors.
Do you charge for support?
Support during the first 100 days after the investment is free of charge. After that, we agree clear terms in advance for any further support you need.
Do you also invest outside the Netherlands?
Our focus is on Dutch companies with European ambitions. We are happy to help you with your international growth.
What happens to my data and documents?
We treat everything confidentially and use it only to assess your application. Read more in our privacy statement.