SET Ventures launches €200M fund for a carbon-free energy system

SET Ventures has announced its €200M fourth fund with €127M committed to invest in the next generation of technology leaders that will shape the carbon-free energy system of the future.

By doubling the size of its previous fund, SET Ventures enhances access to capital for Europe’s most imaginative energy entrepreneurs by addressing the scarcity of deep pockets for turning early-stage innovations into financially successful market leaders. The fund will invest in 20-25 European innovators in the energy transition. To extend its international presence, the firm has also opened an office in Hamburg.

SET Fund IV is raised from a combination of existing and new investors, including the European Investment Fund (EIF), Triodos Energy Transition Europe Fund, a.s.r. and Carbon Equity. SET Ventures invests across Europe at the Series A stage with the ability to keep supporting portfolio companies through multiple rounds of financing. 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.

“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”, says EIF Executive Officer Marjut Falkstedt.

SET has backed successful innovations in EV charging, virtual power plants, mobile energy, flexibility trading, and energy efficiency. SET Fund IV will focus on companies built on digital technologies and data, as these are optimally positioned to benefit from the new supercycle – the transition to a carbon-free energy system.

“The world is deploying renewable energy assets at an unprecedented pace.”, says Managing Partner Anton Arts. “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.”

Managing Partner, Wouter Jonk says “We are proud of the strong support of returning investors from our previous fund who are joined by new investors. This shows the strength of the platform that we launched over fifteen years ago”.

Convinced that investment and climate returns are highly correlated, the fund integrates scientifically sound impact analysis and reporting throughout the investment lifecycle. The designation as Article 9 under the EU’s SFDR builds upon a long history of sustainable, ESG and impact investing at SET Ventures.

All SET partners are available for interviews or further comment.

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