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SET Ventures announces new €75 million fund focussed on the Energy System Transition and appoints new partner
Investing in European technology companies that enable a sustainable, electrified and digital energy system
Amsterdam, the Netherlands, January 17, 2019 – SET Ventures, the energy transition venture capital firm, announces the first close for SET Fund III. The Fund will invest in European early growth-stage companies that shape the future energy system through effective balancing of intermittent renewable generation, smart energy distribution and storage, and promoting efficient energy use.
Investors in SET Fund III include corporations, family offices, financial institutions and development agencies such as European Investment Fund, Korys, PTT Group Thailand, Shell Ventures, BNP Paribas, ENERGIIQ, Sitra, and BOM Brabant Ventures.
“We are delighted to welcome leading new investors, joining a number of returning investors from our previous fund”, said René Savelsberg, Managing Partner at SET Ventures.
Managing Partner Wouter Jonk adds: “The energy sector is going through a major transition as the trend towards renewable generation and electrification of many sectors accelerates. Helping our limited partners anticipate the profound consequences of the wave of innovation in this field, while creating attractive financial returns and generating impact, is our task at hand”.
Anton Arts, who has been appointed a Managing Partner said: “Besides traditional utilities, the energy system of tomorrow has many new participants: from energy producing consumers to the automotive industry to real estate. All enabled by newly created data-driven business models. We see amazing opportunities for value creation by building the next generation of leading tech companies that benefit from Europe’s visionary role in the energy transition.” Anton joined SET Ventures in 2017, after previously having been a partner at Gilde IT Fund and New Venture Partners and working as an independent advisor with roles including fund raising, M&A, mentoring, business development and restructuring.
SET Ventures backs exceptional smart energy entrepreneurs who have what it takes to transform large, global markets. These include breakout success stories like Epyon (acquired by ABB to power its fast charging division) and sonnen, which has raised over €150m from leading international investors. These companies chose SET Ventures as an investor for its sector focus, experience and ability to add value.
SET Fund III is geared to generate financial returns, strategic insights and environmental impact for its limited partners. SET is considered a leader among venture capital funds in the way ESG and impact reporting are integrated into its investment decision-making process. It received the 2018 ESG award from the Dutch Association of Venture Capital and Private Equity.
About SET Ventures
Since 2007, Amsterdam-based SET Ventures has invested in European technology companies that impact the future of the energy system. SET Ventures focuses broadly on innovative energy generation, energy distribution and storage and energy efficiency. SET Fund III provides early growth-stage capital to ventures that shape the energy system transition through smart software and services-based business models. For more information please visit www.setventures.com.
René Savelsberg, Managing Partner