Yessica Klein
8 min read
09 November 2025
Nicolas Debray, born and raised in Brussels, never planned to be an entrepreneur. He joined Google in 2007 just as digital marketing was beginning to take shape, but what started as a corporate role quickly revealed the limits of working within rigid hierarchies and opened his eyes to new opportunities. By 2009, he had left to cofound Semetis, a digital media agency that grew from two people to more than fifty and managed more than €100 million ($~112 million) in ad spend before being acquired by Omnicom. Since then, Nicolas has become a business angel, startup mentor, board member and ecosystem builder, helping to shape the next generation of Belgian entrepreneurs.
What motivated you to leave a stable role at Google and launch your own agency?
I realized quite early that I wasn’t made for corporate structures. I didn’t have the filter; I’d speak to anyone, regardless of title. At Google, I was exposed to this Silicon Valley mindset, where everything felt possible – that energy was contagious - but I also saw clear inefficiencies. Large media agencies were handling digital campaigns poorly, and digital was just starting to grow. There was a clear gap, and my cofounder and I decided to build something ourselves.
How did you approach launching Semetis? Was it a leap of faith?
For me, it wasn’t risky. I had my two hands, I was healthy, and I didn’t need much to live, so the perceived risk was very low. We prepared everything carefully and quietly over nine months, even getting promoted shortly before leaving. Once we had our first clients, Blico, then IKEA, then Proximus, it snowballed. Others followed because they didn’t want to be left behind.
Was selling the company always the plan?
Yes, from day one. We wanted to build something, grow it, sell it, and learn from the experience. I remember an entrepreneurship class I took in Milan, where one entrepreneur said, “I’m building a business for the next seven generations,” and the other said, “I have one life, I’ll build seven businesses.” That second mindset was closer to ours. We weren’t from entrepreneurial families. It was just us, figuring things out.
What came next after the sale?
We sold in 2015 and stayed on until 2019 to manage the integration. It was important to us that our team wouldn’t get crushed in the process. At the same time, I started giving back, going back to my university, pushing for more digital marketing and entrepreneurship in the curriculum. I started coaching, joined boards and eventually began investing.
“It’s not about the hero entrepreneur. The ecosystem needs experts, investors, public bodies, employees – everyone plays a part.”
How do you decide what to invest in?
What I’ve learned is that I actually know very little. On the idea side, the most promising founders often come from the industry they’re trying to disrupt. They understand the players and problems. With students, their ideas are often fresh but disconnected from reality.
As for teams, it’s hard. I’ve seen excellent people fail and chaotic teams succeed just because the market was hot. For me, communication is key. If I can’t have honest, open conversations with founders, I can’t bring value.
You’ve also helped build Belgium’s startup ecosystem. What does that look like today?
It’s definitely more mature now, with more experienced founders, better investors and a stronger support network. But it’s still unstructured and fragmented. You have different initiatives in different regions, but they’re not aligned. That’s why I launched the Belgium Startup Awards and a national conference. It brought together 500 people across four stages: startups, corporates, investors and experts. It showed there’s real energy here. Now we need to lower the barriers between these groups.
What have you learned from mentoring founders?
That I can’t control everything. I used to think I could coach someone and then suddenly unicorns would appear in the sky over Brussels. But I’ve learned that people think differently, act differently, and that sometimes the best help is doing nothing or redirecting them to someone better suited. It’s about understanding what’s needed in the moment.
Looking back, what mistakes shaped your approach as an angel investor?
At first, I invested in too many projects too quickly. I should’ve paced myself, done more due diligence and understood follow-on strategies better. You can’t put all your money in up front; you need to be ready for second and third rounds. I also underestimated how emotionally involved I’d get. If a founder doesn’t communicate, I can’t do much. That’s why trust and alignment matter.
You’ve described your 30s as the decade of building, and your 40s as the decade of investing. What’s next?
I’m still figuring that out. Right now, I’m focused on building the startup ecosystem, growing my network and staying connected to what’s happening on the ground. I still consult part-time to stay close to different industries. I dedicate a day each week to nonprofit work and mentoring. Maybe in my 50s, I’ll start another company, launch a venture fund or deepen my board work. I don’t have a fixed plan; I'm just keeping the door open to opportunities.
“Life is not black and white, good and bad – it’s way more complex, and you need to navigate through that ocean of people thinking differently.”