Amsterdam-based VC SET Ventures has closed its fourth fund, totaling €200 million, to support European tech companies driving the transition to a carbon-free energy system. The fund received backing from both new and existing LPs.
- Founded in 2007 by Wouter Jonk and René Savelsberg, SET Ventures is a venture capital firm that invests in digital tech companies offering solutions for energy generation, distribution, storage, and consumption across sectors such as infrastructure, mobility, buildings, and industry.
- SET Fund IV aims to back founders who create innovative startup models that encourage companies and consumers to embrace change now, rather than waiting for regulations to enforce it.
“With SET’s fourth fund closed, we champion the founders who apply digital technology to address these challenges. We invest to spawn a universe of solutions and companies that complete the formula for fully transitioning to a carbon-free energy system in the coming years," Managing Partner at SET Ventures, Anton Arts, stated.
- The new fund has already invested in four startups, including Munich-based E-mobility startup e-mobilio, smart heat-management startup vilisto GmbH, energy renovation advisor Fuchs & Eule, and Eindhoven-based energy management software Tibo Energy Management Software.
"The advantage of our long-standing history is that we understand which technologies are likely to stand the test of time and have a genuine impact. We’re proud that our portfolio reflects this. Last year, our portfolio companies’ work led to the avoidance of 3.3 million tonnes of CO2 emissions," Co-founder and Managing Partner, Wouter Jonk, commented.
- The fourth fund saw participation from new and existing investors, including the European Investment Fund (EIF), Triodos Energy Transition Europe Fund, a.s.r., Carbon Equity as well as several European grid operators.
