- Fund began fundraising in 2023
- SET Fund IV will invest in 20 to 25 European companies at the Series A level in the energy transition sector
- The firm also opened an office in Hamburg
SET Ventures, a Dutch venture capital firm focused on sustainable technologies, raised €200 million for its fourth fund.
Of the total, SET has committed to invest €127 million in next-generation carbon-free energy technology companies.
SET Fund IV was raised from both existing and new investors, including the European Investment Fund, Triodos Energy Transition Europe Fund and Carbon Equity, according to a a statement from the firm. The fund also secured a €10 million commitment from Invest-NL, a government-related investment organization based in the Netherlands, according to fundraising data from affiliate title Private Equity International.
Fund IV began fundraising in 2023 with a target of 200 million. It held a first close on 127 million in September 2023 before holding a final close on the target amount in September of this year, PEI reported.
SET, which stands for Sustainable Energy Technology, raised €100 million for Fund III in 2020, exceeding its €75 million target, according to PEI.
Fund IV will invest in 20 to 25 European companies at the Series A level in the energy transition sector.
“The world is deploying renewable energy assets at an unprecedented pace,” said SET Ventures 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.”
In addition to the fundraising, SET Ventures has opened an office in Hamburg, Germany.
- Fund began fundraising in 2023
- SET Fund IV will invest in 20 to 25 European companies at the Series A level in the energy transition sector
- The firm also opened an office in Hamburg
SET Ventures, a Dutch venture capital firm focused on sustainable technologies, raised €200 million for its fourth fund.
Of the total, SET has committed to invest €127 million in next-generation carbon-free energy technology companies.
SET Fund IV was raised from both existing and new investors, including the European Investment Fund, Triodos Energy Transition Europe Fund and Carbon Equity, according to a a statement from the firm. The fund also secured a €10 million commitment from Invest-NL, a government-related investment organization based in the Netherlands, according to fundraising data from affiliate title Private Equity International.
Fund IV began fundraising in 2023 with a target of 200 million. It held a first close on 127 million in September 2023 before holding a final close on the target amount in September of this year, PEI reported.
SET, which stands for Sustainable Energy Technology, raised €100 million for Fund III in 2020, exceeding its €75 million target, according to PEI.
Fund IV will invest in 20 to 25 European companies at the Series A level in the energy transition sector.
“The world is deploying renewable energy assets at an unprecedented pace,” said SET Ventures 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.”
In addition to the fundraising, SET Ventures has opened an office in Hamburg, Germany.
