Venture Capital: Schneider’s SE Ventures Launches EUR 500M Fund II

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The SE VEntures Fund II will focus on climate and industrial tech startups.

Menlo Park, California-based SE Ventures, which is the VC arm of Schneider Electric (EPA: SU), announced today a 500-million-euro fund-II to accelerate climate and industrial technology start-ups within the firm’s overall target sectors of electrification, digitization, and decarbonization. (CISION PR NEWSWIRE)

In 2018, the VC firm had floated its Fund I, and the current raise takes the firm’s committed capital to €1 billion.

SE Ventures will start deploying Fund II from January 2023, and issue cheques to “category-defining companies in climate-tech, industrial AI, mobility, prop-tech and cybersecurity,” according to a press release. Startups will get “unparalleled access to Schneider Electric’s global ecosystem of customers and partners,” and benefit from “the efficacy of its unique model.”

SE Ventures has investments in over 40 startups and seven venture funds alongside partnership engagement with over 200 startups. It is led by Amit Chaturvedy, Global Head and Managing Partner, along with General Partners, Grant Allen and Varun Jain – a senior team of professionals with collective investing experience of 40+ years.

“We live in a world that’s facing crises on three fundamental levels: energy, economy and climate,” said Nadège Petit, Chief Innovation Officer of Schneider Electric. “There’s never been a greater need for transformation, or a greater opportunity for positive impact – impact that we create by innovating in three fundamental ways: electrification, digitalization and decarbonization.”

“Together, SE Ventures and Schneider Electric are building a better future, investing in big, disruptive ideas that accelerate the world’s sustainability agenda while driving better business outcomes,” said Amit Chaturvedy, Global Head and Managing Partner, SE Ventures. “We are excited to partner with Schneider Electric for Fund II.”

Related Story: Saudi Aramco Launches $1.5B Sustainability Fund

Image credit: Photo by Patrick Hendry on Unsplash

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