SET Ventures funding news – European Sustainable Energy VC SET Ventures Secures its fourth fund at €200 Million

The company supports businesses in Europe that prioritize digitalization and data analysis to expedite the assimilation of current renewable energy technology into mainstream markets. Rather than waiting for regulation to compel a change, the fourth fund will invest in entrepreneurs who develop ground-breaking business models that encourage businesses and consumers to adjust immediately.

SET Ventures is one of the oldest venture capital firms investing in the clean energy space, having been established in 2007. The team argues that the physical technology required to combat climate change, such solar panels and electric vehicles, have already made their way into the market.

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Now, the critical task is to put in place the digital technologies that will enable the widespread deployment of this gear and its smooth integration with our energy system. By enabling the transition from fixed to dynamic energy price, for instance.

In recent years, adoption rates of clean energy have consistently increased throughout Europe as a result of technologies that have been validated, scaled, and developed to a mature standard. A record 44% of the electricity supplied in the EU last year came from renewable energy sources.

New systemic issues do, however, arise as these solutions are embraced more widely and our future energy system becomes more decentralized. Infrastructure congestion, imbalanced supply and demand, and intermittent renewable energy storage are some of the difficulties.

Anton Arts, Managing Partner at SET Ventures said, “Hardware is, on its own, not going to achieve urgent climate goals, For decades, our energy system has been geared towards fossil fuels, so it’s no surprise that the energy transition has come with teething problems. In fact, these issues are a positive sign that we are in the midst of this mass rollout. With SET’s fourth fund closed, we champion the founders who apply digital technology to address these challenges. We invest to spawn a universe of solutions and companies that complete the formula for fully transitioning to a carbon-free energy system in the coming years.”

SET Ventures has invested in sustainable energy for 17 years. During that time, it has developed a network of important industry partners, such as utility companies and grid operators, and gathered professional expertise in areas including electrification, flexibility, and decentralized energy systems.

Early movers like Instagrid, which just raised a $95 million series-C round and entered the North American market, Sensorfact, which is collaborating with thousands of industrial SMEs to monitor industrial processes, and Sonnen, a pioneer in home energy storage systems and virtual power plants, have all benefited from the specialized fund's successes.

Co-founder and Managing Partner Wouter Jonk said: “When it comes to fighting the climate crisis, we are firm believers that energy is the best place to start. 76% of the world’s emissions stem from energy, so solving this brings the fastest potential emissions reductions. The advantage of our long-standing history is that we understand which technologies are likely to stand the test of time and have a genuine impact.”

About SET Ventures

SET Ventures Since 2007, they have provided cash, support, and insights to forward-thinking innovators in order to invest in digital technologies for a carbon-free energy system. They assist businesses that are at the forefront of a systemic shift in the production, distribution, storage, and consumption of energy in areas including distributed infrastructure, energy retail, buildings, industry, and mobility, as well as enabling technology. These businesses have a strong digital DNA and offer sustainable solutions.