French VC Axeleo Capital has closed a new €125M greentech fund. The capital was provided by three major investors: the Révolution Environnementale et Solidaire fund, which is funded by Crédit Mutuel Alliance Fédérale's societal dividend, Bpifrance and the Fonds National de Venture Industriel (FNVI) managed by Bpifrance on behalf of the French government as part of the Plan France 2030, and the Veolia group.
The new fund aims to finance innovative and resilient green technologies in Europe by combining financial and industrial expertise.
With a final target of €250m, it aims to make 15 to 20 investments in Europe with lead tickets ranging from €3M to €10M in the energy (new renewable energies, storage), chemicals and materials (biomaterials, plastics recycling), agriculture and food (bio-based fertilisers and pesticides) and mobility (electric motors, decarbonisation of air and sea transport) sectors.
These funds have been used to make an initial investment in Sweetch Energy, a start-up specialising in osmotic energy, a permanent, controllable renewable energy source.
‘Following the success of our Software B2B strategies, the launch of GTI I represents a major step in the development of our management company. In line with our values and our entrepreneurial DNA of supporting founders, this fund allows us to address a field of major innovations around decarbonisation, green technologies and the renewal of industrial sectors in Europe,’ commented Eric Burdier and Mathieu Viallard, co-founders of Axeleo Capital.
‘With the whole Axeleo Capital team, we are very happy with this first closing which allows us to act now. The support of our sponsors and investors, whom we thank for their confidence, reinforces our collective ambition to contribute to the emergence of tomorrow's European and green industrial sectors.’ said Guillaume Sarlat and Marc Lechantre.
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