Amsterdam-based SET Ventures, a venture capital firm investing in digital technologies for a carbon-free energy system, has launched its fourth fund at €200M.
SET Ventures has designated €127M of its €200M fourth fund specifically for investments in emerging technology leaders that are dedicated to shaping the carbon-free energy system of the future.
The fourth Fund raised the investment from existing and new investors, including the European Investment Fund (EIF), Triodos Energy Transition Europe Fund, and Carbon Equity.
What to expect from the new fund?
SET Ventures has doubled the size of its previous fund to €200M, addressing the scarcity of funding for early-stage energy innovations in Europe. The firm plans to invest in 20-25 European innovators in the clean energy sector.
Additionally, SET Ventures has expanded its reach by opening an office in Hamburg, to extend its international presence and support global energy transition efforts.
The fund focuses on Series A investments in European startups in the sustainable energy sector. It has a team of experienced partners leading its efforts, providing support through multiple financing rounds for portfolio companies.
The fund is managed by a diverse and experienced team led by Wouter Jonk, Anton Arts, Julia Padberg, Till Stenzel, and René Savelsberg as Partners.
Marjut Falkstedt, EIF Executive Officer says, “We see SET as a leader in the field of digital technologies in the energy transition. This is an area in which the EU and the EIF attach great importance.”
“We value our long-standing relationship and are keen to support their efforts to drive innovation in the energy transition, thus making a very tangible contribution to securing a better future for all of us on this planet,” adds Falkstedt.
Backing innovations
SET Ventures, known for backing innovations in EV charging, virtual power plants, mobile energy, flexibility trading, and energy efficiency, is directing its Fund IV towards companies harnessing digital technologies and data.
These technologies are seen as optimal for benefiting from the ongoing transition to a carbon-free energy system, often referred to as the “supercycle” in the energy industry. SET Ventures continues its mission to support and invest in startups driving transformative change in the evolving energy sector.
Anton Arts, Managing Partner at SET Ventures says, “The world is deploying renewable energy assets at an unprecedented pace. It is a generational investment opportunity to back digital technologies and business models to integrate renewables at scale while driving the electrification of industry, mobility, and the built environment towards net-zero climate targets.”
Brief about SET Ventures
Established in 2007, SET Ventures is a European energy venture capital investor committed to advancing a carbon-free energy system. It provides capital, community support, and insights to visionary founders in the energy sector, aiming for both financial and impact-driven returns through sustainable energy solutions.
The firm claims to have a successful track record in the energy sector, with notable exits, including their early support for Epyon, acquired by ABB, and Greenflux, acquired by DKV.
SET Ventures remains dedicated to fostering innovation and sustainability in the energy industry.