Venture capital firm Energy Impact Partners (EIP) is to expand into Europe with the launch of the European Fund, targeting mission-driven companies advancing the net zero carbon economy.
EIP stated it hopes to introduce European companies to the scalable US market and has gained backing from institutional investors.
EIP has €390 million to deploy in European investments to accelerate the growth of innovative technologies, which have the potential to drive the transition toward net zero.
“Europe is leading in the energy transition and is a key market on the road to net zero where we are seeing thousands of investable opportunities. We are thrilled to now be able to partner with brilliant European entrepreneurs to help accelerate the innovations tackling climate change,” said Hans Kobler, founder & CEO of Energy Impact Partners.
The fund will seek growth and venture investments across the continent, targeting companies across the full spectrum of the energy transition.
Contributions to the fund are drawn from a broad set of institutional investors, impact investors and corporates in a range of industries, including energy, utilities, technology and infrastructure and transport.
EIP holds over $2.5 billion in assets under management and invests globally across venture, growth, credit, and infrastructure and is based out of New York, San Francisco, Palm Beach, Washington DC, London and Cologne.
Amongst others, partners and investors in the fund include a wholly owned subsidiary of the Abu Dhabi Investment Authority, AGL Energy Ltd, APG on behalf of its pension fund client ABP, Électricité de France (EDF) Group through its corporate venture capital arm EDF Pulse Ventures, Microsoft’s Climate Innovation Fund, Nysnø Climate Investments – a wholly owned subsidiary of the Norwegian Ministry of Trade, Industry & Fisheries and Shell Ventures.
“The energy transition is the most promising investment opportunity of our generation with a global estimated $9 trillion to be spent annually. A lot of this money will be spent on new climate technologies,” said Matthias Dill, CEO and Co-Managing Partner, EIP Europe.
EIP has already invested in 11 companies in Europe.
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