Triodos Renewables Europe Fund is one of several co-investors entering the fund after a capital raise, which was completed at EUR 100 million, well above the target size of EUR 75 million. SET Fund III invests in European early growth-stage companies that shape the future energy system through effective balancing of intermittent renewable generation, smart energy distribution and storage, and promoting efficient energy use.
Vincent van Haarlem, Fund Manager Triodos Renewables Europe Fund: “Our investment in SET Fund III underlines our commitment as a fund to invest in opportunities that accelerate the energy transition. The companies that SET Fund III invests in play an important role in this energy transition by providing innovative solutions required for integration of generation, use, storage and transmission of electricity. In this field electrification and digitalisation are key trends.”
Amsterdam-based SET Ventures has invested in European technology companies that impact the future of the energy system, since 2007. SET Ventures focuses broadly on innovative energy generation, energy distribution and storage and energy efficiency. René Savelsberg, Managing Partner at SET Ventures said in the press release on the capital raise: “We are delighted to welcome all of our new investors, joining the investors that made the start of SET Fund III possible only a year ago. Reaching the hard cap of €100 million confirms the trust in our entire team and the dedication to make the energy system transition a reality.”