The fourth €200 million fund from Amsterdam’s SET Ventures has been unveiled, with €127 million already invested. The fund will support leaders in the energy transition as they develop a future energy system free of carbon. Twenty to twenty-five European energy transition entrepreneurs will receive investments from the fund.
The VC company wants to help Europe’s most forward-thinking energy startups succeed as industry leaders. The capital will solve the issue of the lack of adequate funding that plagues these businesses by being twice as large as the last fund.
The SET Fund IV fundraising effort included both experienced and novice investors. The European Investment Fund (EIF), Triodos Energy Transition Europe Fund, and Carbon Equity are a few of these financiers.
SET Ventures supports its portfolio businesses through numerous fundraising rounds by investing at the Series A stage across Europe.
SET Ventures partners Wouter Jonk, Anton Arts, Julia Padberg, Till Stenzel, and René Savelsberg lead the group in charge of overseeing SET Fund IV.
Driving the energy transition, SET Ventures aims to make the necessary adjustments in the energy transition and make them happen. The venture capital firm has made profitable investments in technologies related to EV charging, virtual power plants, mobile energy, flexibility trading, and energy efficiency.
“In digital technology for the energy transition, we consider SET a frontrunner. The EU and the EIF place a high value on this region, according to Marjut Falkstedt, executive officer of the EIF.
In addition, Falkstedt says, “We value our long-standing relationship and are eager to support their efforts to drive innovation in the energy transition, making a very real contribution to securing a better future for all of us on this planet.”
The foundation of SET Fund IV is the correlation between investing and climate returns. The fund depends on impact research and reporting supported by science across the entire investment lifecycle to achieve its goals.
“The world is deploying renewable energy assets at an unprecedented pace,” says Anton Arts, SET Ventures’s managing partner.
To advance the electrification of industry, transportation, and the built environment in the direction of net-zero climate objectives, Arts continues, “It is a generational investment opportunity to support digital technologies and business models that incorporate renewables at scale.
Regarding SET Ventures
Europe’s top energy venture capital investor, SET Ventures, was established in 2007. By supporting innovative entrepreneurs with the resources, network, and knowledge to generate both financial and social impact returns, the firm seeks to build a carbon-free energy infrastructure.
SET Ventures developed smart energy system solutions for various businesses to implement the energy transition. These solutions address a variety of sectors, from built environments to distributed energy systems.
The €9.5M Series SET Ventures was in charge of a fundraising round for the German company e-Mobilio earlier this month. The venture capital firm also recently supported the Hamburg-based heat management business Vilisto.
