The E.ON Group in Essen is one of the largest energy suppliers in the country. In 2018/2019 the company took over its competitor RWE’s subsidiary innogy as part of a comprehensive swap transaction. This in turn was merged with the new parent company E.ON this year and now no longer exists as a separate company. For E.ON, this restructuring was the occasion to reorganize its venture capital activities as well. The “Future Energy Ventures” fund is the result. This article is based on the unique List of the 200 most important venture capital investors in Germany.
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- Article based on the database of the 200 most important Venture Capital Fonds in Germany
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Two becomes one
The fund, which was launched at the beginning of October 2020, combines venture capital know-how and expertise from E.ON and innogy. The VC teams from both areas form the staff of the new fund and the existing investments will also be continued under the umbrella of Future Energy Ventures. Of course, further commitments are to be added. Future Energy Ventures wants to invest in digital and digitally supported technologies and business models that can have a lasting impact on the energy landscape of the future – in line with the fund’s name element “Future Energy”. The focus is on participation in Series A financing rounds, but is not limited to this.
Future Energy Ventures is intended to be more than a pure investor – the fund also wants to support its start-ups with mentoring, networking and the establishment of contacts. The currently managed portfolio already has a volume of around EUR 250 million and over five dozen commitments, including financing for well-known start-ups such as Bidgely, Holobuilder, Intertrust, Thermondo and T-Rex. In addition to its headquarters in Essen, Future Energy Ventures is also represented in Silicon Valley and Israel – two digital start-up hotspots.
Source: Alpha Week Picture source: Unsplash