California, U.S.A-based corporate venture capital firm of Schneider Electric, SE Ventures, launches EUR 500 million Fund II. The company announced the launch of a new fund on November 17, 2022. The establishment of Fund II makes the firm one of the largest VCs focusing on climate and industrial technology.
Purpose of Fund II by SE Ventures
The company’s Fund II intends to begin deployment later in January 2023. It seeks to double down on SE Ventures’ track record of success as an accelerant for category-defining companies in sectors such as climate tech, industrial AI, mobility, prop-tech and cybersecurity.
SE Ventures emphasizes agility in decision-making and commercial acceleration of its investments. Meanwhile, it seeks to offer unparalleled access to Schneider Electric’s global ecosystem of customers and partners.
Earlier, the company’s Fund I repeatedly proved the efficacy of its unique model. SE Ventures invested in more than 40 startups and seven venture funds, in addition to partnership engagement with more than 200 startups.
What the company’s official has to say
Nadège Petit, Chief Innovation Officer of Schneider Electric, said, “We live in a world that’s facing crises on three fundamental levels: energy, economy and climate. There’s never been a greater need for transformation or a greater opportunity for positive impact – an impact that we create by innovating in three fundamental ways: electrification, digitalization and decarbonization. Through this Fund II launch, which is a continuation of our capital allocation strategy to the startup ecosystem, we are reinforcing our commitment to a future where startups with bold solutions and companies with bold ambitions together have access to the resources, tools and partners they need to meet this moment and make an even better future.”
In addition, Amit Chaturvedy, Global Head and Managing Partner of SE Ventures said, “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. We are excited to partner with Schneider Electric for Fund II so that SE Ventures can continue to offer an unparalleled value proposition to the startup ecosystem, where a deep understanding of the operating environment and the ability to accelerate businesses make us the ideal partner for startup founders around the world.”
About the company
In 2018, Founders Grant Allen, Heriberto Diarte and Varun Jain launched the company. SE Ventures team takes an outcome-oriented approach to progress, working in stride with each company to explore commercial relationships with Schneider Electric’s businesses, customers as well as partners while generating near-term value.
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