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Berlin — (Business Wire–EON’s current venture group, Future Energy Ventures, has established a new, independent Luxembourg residential venture capital fund, Future Energy Ventures Fund I SCA SICAV-RAIF (the Fund). This launch marks a new chapter for the impressive team in its mission to create a decarbonized future through Europe’s leading energy transition fund. E.O.N., one of Europe’s largest energy networks and energy-related infrastructure, has committed to be the anchor investor for the fund.
In a key step towards closing the fund’s first and independent Futures, an international group outside of EON, German financial regulator Baffin has licensed a new independent company, Future Energy Ventures GmbH (FEV), together with Jahn. Lozek as founder and managing partner. The Baffin license enables FEV to accelerate capital raising from investors and fulfills the prerequisite for FEV to act as an advisor on the fund’s management.
The fund will primarily focus on Series A and B investments in digital and scalable business models to transform the traditional energy value chain into net zero. The fund has three main investment themes in the energy sector: Future Energy, Future Cities and Future Technologies. The fund aims to invest 100% of its capital in sustainable investments as per Article 9 of the SFDR Regulation. It will target innovation hubs in Europe, North America and Israel. With a total target size of 250 million euros, the fund is expected to close in 2023.
The team transitioning to FEV has built a strong reputation and enviable track record of innovation during their time at EON, creating a vibrant portfolio and delivering impressive achievements. This includes the recent $60 million Series C funding round for Buildots – a building technology startup with an addressable market of $1.3 trillion in the US alone – as well as several high-profile exits such as Waycare, cloud- Based platform for pre-traffic management, Rekor system for international AI company.
To date, the team has exited 10 investments, delivering a guaranteed 2.2 MOIC and 39% IRR. To date, the team has completed 50+ transactions in just six years.
““We need new technologies to transform the traditional energy value chain and build a net zero economy,” says Thomas Beer, EON’s Chief Strategy and Innovation Officer. “In recent years, our venting team has proven to be a great partner in bringing those technologies to E.O.N. As the anchor investor of the new Future Energy Venture Fund, we will continue the successful collaboration.
“In the year With $30 billion in VC investments in climate tech companies by 2021 and 70% of the global economy committed to achieving net-zero, climate tech has become a core investment strategy – and rightly so if we want to make any progress towards net-zero. carbon emissions by 2050,” says Jan Loszek, founder and managing partner of FEV. “We are in advanced discussions with a number of prominent strategic investors as well as institutional investors and family offices. With a broad base of like-minded investors, we look forward to partnering with dedicated entrepreneurs to further decarbonize energy and build an energy system for the next generation.
The fund is managed by global fund services provider Apex Group.
About Future Energy Ventures
Future Energy Ventures is EON’s venture capital investment and collaboration platform. It invests in digital and digital-enabled technologies and business models that have the potential to redefine the future energy landscape. Focusing on typically Series A-seeking and asset-light companies, Future Energy Ventures seeks to capitalize on the investment opportunities presented by this new energy future transition and maximize expansion opportunities for its portfolio.
For more information, visit www.fev.vc.
About E.O
EON is an energy company owned by international investors, which focuses on energy networks and customer solutions. As one of Europe’s largest energy companies, EON plays a leading role in shaping a clean, digital and decentralized energy world. To this end, more than 75,000 employees develop and sell products and solutions to private, commercial and industrial customers, as well as to cities and municipalities. Nearly 50 million customers buy electricity, gas, digital products or solutions for electric mobility, energy efficiency and climate protection from EON. EON is headquartered in Essen, Germany. For more information, please visit www.eon.com.
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