Seedcamp, USD 350K to 1.25M first cheque, no deadline
Seedcamp says its first cheque is usually between $350,000 and $1.25 million. It publishes no deadline: founders pitch through a form, and Seedcamp says it aims to finish its process within two weeks of meeting.
The terms below come from the Seedcamp FAQ page and from a template Advance Subscription Agreement (ASA), which the FAQ calls its current standard pre-seed ASA. The FAQ says Seedcamp is comfortable with a convertible or an equity structure. In the ASA template the investment amount, the post-money valuation and the size of a qualifying round are blank.
- Conversion: no interest, and the money is not repayable. It converts at the lower of the lowest price paid in the next round and a post-money valuation divided by fully diluted capital, counting an option pool of at least 10%. The template has no discount.
- If the company is sold, listed or insolvent first, the investor can take the higher of its money back or the converted value. It also has a most-favoured-nation clause and a pro rata right in later rounds.
- Founders: the template requires reverse vesting if none exists, with 25% vesting after one year and the rest monthly over three years. Monthly KPIs, including revenue, runway and cash, go to the investor.
- Who it backs: sector agnostic, from pre-product to early revenue, mostly in Europe and Israel or with a European angle. If a company has raised more than a couple of million dollars, the FAQ says Seedcamp is probably not the right fit.
- A recent example: on 2 November 2026 Seedcamp wrote that it led a $3.75 million pre-seed round for Marble Cognition alongside Heartcore Capital. How much Seedcamp put in is not stated.
The FAQ says Seedcamp takes no board seats but typically a board observer role until the next round or Series A. The ASA template gives a non-voting observer for nine months, extendable.
Who pays: Seedcamp calls itself a private investment fund. The FAQ says it is backed by "Tier 1 institutional investors, angels, and founders", none named. No fee to founders is listed.
Track record, by Seedcamp's own count: a portfolio enterprise value above $150 billion, 12 companies worth $1 billion or more and 3 worth $10 billion or more. The company count differs slightly by page: 500+ on the companies and press pages, more than 550 "company journeys" in the FAQ. The team page counts 1,000+ founders.
Not published: the ownership it takes, valuations, fund size, how many pitches become investments, and the amounts in the template.