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Main Set Limited is a venture capital firm based in London, UK, focused on investing in fintech and adjacent SaaS sectors. The firm operates as an Appointed Representative of The Fund Incubator, which is authorized and regulated by the Financial Conduct Authority. Established as part of Capricorn Capital Group, which has a history dating back to 1994, Main Set aims to provide both capital and strategic expertise to its portfolio companies.
As of 2025, Main Set has transitioned from a deal-by-deal investment approach to launching its debut blind-pool fund, which achieved a first close of £14 million with a target of £40 million. The firm currently manages an $18 million fund and has a portfolio of seven companies, reflecting its commitment to supporting early and growth-stage businesses in the fintech landscape.
Main Set's office is located at 2nd Floor, Malta House, 36-38 Piccadilly, London, W1J 0DP. The firm is backed by Capricorn Capital Group, a global private investment firm with operations in over 13 countries, providing a strong foundation for its investment activities.
Main Set Limited focuses on early and growth-stage investments in the fintech and adjacent SaaS sectors. The firm employs a systematic and data-driven investment strategy, targeting businesses that demonstrate strong potential for returns while addressing significant challenges in their respective markets. Key sectors of interest include payments, insurtech, wealthtech, neobanking, and CFO tools.
The firm seeks to partner with exceptional founders and teams who are at the forefront of technological advancements. Main Set looks for companies that not only have innovative solutions but also possess a clear understanding of their market dynamics. Their investment strategy emphasizes minority investments, allowing them to provide capital while supporting the strategic direction of their portfolio companies.
Main Set Limited has a diverse portfolio of seven notable companies, primarily in the fintech and SaaS sectors. The portfolio includes:
This portfolio reflects Main Set's commitment to investing in innovative companies that are addressing significant challenges in the financial technology space.
Ioto Iotov: Founder & Managing Partner. Ioto has extensive experience in venture capital and has led numerous successful investments in the fintech sector. He has a strong background in finance and technology, having previously worked with leading investment firms.
To pitch to Main Set, founders should use the email address invest@mainset.co.uk. A well-structured pitch deck is essential, including details about the business model, market opportunity, and team background. Main Set prefers concise and informative presentations that highlight key metrics and growth potential.
Response times may vary, but founders can generally expect feedback within a few weeks. Warm introductions are beneficial but not mandatory.
In April 2025, Main Set Limited announced the first close of its debut blind-pool fund, achieving £14 million with a target of £40 million. This marks a significant milestone for the firm as it transitions from a deal-by-deal investment approach to a formalized fund structure.
Main Set continues to expand its portfolio, focusing on early and growth-stage investments in fintech and adjacent SaaS sectors, with a commitment to supporting innovative companies addressing market challenges.
What are Main Set's investment criteria?
Main Set invests in early and growth-stage companies primarily within the fintech and adjacent SaaS sectors. They focus on businesses that demonstrate strong potential for returns and address significant market challenges.
How can I apply or pitch to Main Set?
What makes Main Set different from other venture capital firms?
Main Set combines capital investment with strategic guidance and expertise in the fintech landscape. Their systematic and data-driven approach allows them to identify high-potential companies effectively.
What is the geographic scope of Main Set's investments?
Main Set primarily focuses on investments within the United Kingdom and Europe, leveraging its London base to access a wide range of fintech opportunities.
What is the typical check size for investments?
Main Set's fund size is $18 million, and they typically invest in early and growth-stage companies, though specific check sizes may vary based on the opportunity.
What kind of post-investment involvement can portfolio companies expect?
Main Set provides ongoing support to its portfolio companies through strategic guidance, access to their extensive network, and assistance in navigating the fintech landscape.
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