French VC Aster raises €240 million to invest in energy and mobility

Paris-based VC firm Aster has raised €240 million to invest in energy transition and mobility companies.

The firm plans to back companies in Europe and the US (with “potential for action in Asia”), investing anywhere between €250,000 and €15 million at the seed and growth stages.

Through its “Business Hub” acceleration platform, Aster will help entrepreneurs develop and grow their business through its corporate investor networks, it said. This brings the firm’s total funds under management to €500 million. Investments will focus on energy transition – innovations in renewable and sustainable energy resources – and the future of mobility, from connected cars to autonomous vehicles.

“ transformations underway in the energy and mobility value chains are creating opportunity for budding companies, as well as for industrials,” said Fabio Lancellotti, partner at the firm.

The fund “proves all the confidence our subscribers have in Aster’s unique model and in the vitality of venture capital in France,” said Jean-March Bally, managing partner.

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