AP Ventures Closes Third Fund at €270 Mn to Back Industrial and Energy Technologies

The fund has secured €269.62 million ($300 million) in commitments from a mix of existing and new investors. These include sovereign wealth funds, corporate investors, pension funds, and family offices.

Since its first close in 2024, Fund III has invested in 13 companies developing technologies for industrial and energy systems. The new fund will support AP Ventures' continued investment in these sectors.

“This final close reflects the confidence our existing and new investors place in AP Ventures’ ability to identify and support exceptional technology companies. Strong support from returning investors, alongside new institutional partners, allows us to keep backing the technologies industry needs to operate more productively and securely, from the materials it depends on to the processes and data that run it,” said Andrew Hinkly, Founder and Managing Partner at AP Ventures.

“We focus on backing technically differentiated companies that solve real operational problems across the industries and value chains in which we invest. Whether improving energy efficiency, resource productivity, safety, environmental performance or supply-chain resilience, this combination of technical rigour and commercial pull is what continues to define AP Ventures’ approach,” said Eggers, founder and Partner at AP Ventures.

AP Ventures started as part of Anglo American Platinum’s investment programme focused on platinum group metals (PGMs). In 2018, it became an independent venture capital firm to invest in technologies that use these metals. Anglo American Platinum and South Africa’s Public Investment Corporation (PIC) each committed $100 million as the fund’s main investors.

Anglo American Platinum is part of the Anglo American Group and is the world’s leading primary producer of platinum group metals. The PIC is a public asset management company wholly owned by the South African government, with the country’s Minister of Finance representing the government as its sole shareholder representative.

Led by Hinkly and Kevin Eggers, AP Ventures invests in early-stage technology companies around the world. Its main investment areas include advanced materials, industrial processes, and energy systems. The firm focuses on technologies that can improve how industries operate and use resources.

AP Ventures said its latest fundraise comes as demand for better energy and industrial infrastructure continues to grow. Rising electricity demand, supply chain pressures for critical minerals and materials, and the increasing use of AI, data, and automation are changing how industrial and energy systems work. The firm sees opportunities for technologies that improve productivity and make the supply of important materials more secure.

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