Future Energy Ventures (FEV), a global active venture capital advisor for digital and asset-light energy technologies focused on accelerating the global energy transition, today announced the closing of Future Energy Ventures Fund II with a volume of €205 million, along with a dedicated capital fund for Italy of €3 million. With the milestone, FEV positions itself as the largest European advisor for energy-technology-focused VC investments.
I spoke to Jan Lozek, CEO of Future Energy Ventures, to learn more,
A near decade of energy investing
FEV's goal is to support companies that are reshaping the energy landscape through digital solutions, strengthening national energy independence, and creating new economic opportunities.
Lozek started in energy infrastructure and moved into venture capital in 2016. Lozek recalls that “around that time, the energy transition in Europe was already progressing nicely, and together with RWE we set up our first fund, committing €300 million to early-stage technologies.”
“Our conviction then — and still now — was that the future energy system would be built on massive volumes of renewables, but also on the digital tools required to connect, manage, and orchestrate them.”
Where buildings, batteries, and mobility become energy assets
Since 2016, FEV has made around 50 investments in that space, and in 2023 launched its current fund, now closed at €235 million.
Crucially, the Firm invests at late Seed, Series A and B, usually when startups have €1–2 million in revenue and are ready for the next inflection point.
It invests in startups with AI-driven, software-based solutions that optimise grid efficiency, enable demand flexibility, and integrate cutting-edge technologies into energy systems.
Alongside renewables, FEV focused on electrification across buildings, industry, and transport.
“Coming from the energy sector, we were fascinated by how to connect batteries, buildings, and mobility assets to the grid and how to optimise energy flows across these systems,” explained Lozek.
Electrification creates a new relationship between the classic energy system and the end-user sectors. Buildings, vehicles, and storage assets become energy resources.
“We back technologies that make energy flows more efficient and help connect these assets to the system,” shared Lozek.
Further, in buildings, the Firm invests in advanced energy management to optimise heating, cooling, and storage.
Lozek believes the technology needed to accelerate electrification already exists —”and our role is to back the companies positioned to scale it.”
He admits that earlier investment in sectors such as home energy management systems didn’t always scale at first.
“But now, with AI and electrification, the timing is finally right. Many technologies that once lacked market readiness are suddenly critical."
The portfolio includes companies such as Chloris, Enspired, Feld Energy, EV.energy, Jua, Piclo, Reev and Station A, which are advancing changes in flexibility management, e-mobility, building and industry electrification and AI applications.
Cracking the Series A–B bottleneck
Crucially, FEV helps Series A and B startups scale their businesses,a stage where many struggle to gain traction. Lozek highlighted the need to identify true inflection points, contending it’s crucial to invest where there’s both an immediate need and long-term scalability.
“For example, enspired, a company managing and trading battery assets using AI, is solving a real pain point today, but also sits at the convergence of a long-term global growth trend in storage."
.Further, data centres are booming, and for Lozek the question is “how to connect them without compromising energy availability for homes and industry. Software that improves grid throughput, siting, and connection planning is becoming essential.”
There are also the industry realities that startups face:
“Energy companies often build for 40 years, so they’re cautious. Procurement cycles can be long, and changing legacy mindsets is tough. Our team’s sector experience helps founders navigate this,” shared Lozek.
He also believes that compared to the US, Europe has fewer strong exit routes. “When you’re aiming for a five- to six-year holding period, that’s a challenge.”
The good news: European countries are now gradually adjusting pension fund rules to allocate more capital to venture — an important structural shift.
Geopolitics is rewriting the energy playbook
The vision backed by FEV goes far beyond cleaner electricity. It imagines a transformed global economy in which universal access to locally generated renewable energy reduces dependence on volatile imports and gives nations real sovereignty over their economic future.
At a time when environmental policies are under pressure and geopolitical tensions highlight the urgency of energy independence, this Fund close signals a fundamental shift toward energy security, economic resilience, and long-term sustainability. The transition from volatile fossil fuel dependency to locally controlled renewable systems is today both an economic necessity and a strategic imperative.
According to Lozek, geopolitics has made energy independence a top priority.
“Reducing reliance on imported gas and oil has accelerated interest in renewables and technologies that help manage the system more efficiently. In Europe, and particularly in Germany, investments that strengthen independence from external energy sources make more sense than ever.”
The Fund was initially supported by E.ON SE and the European Investment Fund (EIF) as anchor investors. It now also includes additional strategic and institutional investors such as KFW Capital, ABN AMRO, CLP, BGK, ISA Energia, Borusan, Zorlu Holding, Telos Impact, KELAG, MTR, and Sabanci Climate Ventures.
Italy’s startup renaissance draws FEV in
The Italian fund is fully financed by CDP and invests alongside the main fund. FEV’s decision to launch a dedicated Italian vehicle was the result of three converging factors: deep team roots in the country, a rapidly maturing innovation landscape, and investor demand.
One of the Firm’s partners, Jan Lesinski, grew up in Italy and maintains strong ties to its startup ecosystem. At the same time, Italy has undergone a notable shift since 2016, with government initiatives and development banks helping to build a more vibrant environment for founders and even drawing talent back from abroad. The structure of the Fund also played a role.
“CDP wanted to support and back our fund, but they needed to focus their capital on Italy,” Lozek explains.
“That led us to set up two vehicles with the same strategy — one dedicated to the Italian market and the other operating more broadly.”
Energy as a new top-tier asset class
Energy has emerged as the most compelling investment sector of our generation: security requirements, economic growth, employment effects, and cost-effective renewable energy converge into an area where clean energy technology is both indispensable for stability and an exceptional investment opportunity.
This momentum creates ideal conditions for groundbreaking energy innovations that will complete the transition to a renewable energy world. FEV is therefore well-positioned to identify and scale the technologies that will define the energy systems of the future.
"Europe has the innovation power, talent, and industrial capacity to take a leading role in the global energy transition," says Veronique Hördemann, Managing Partner and CFO of Future Energy Ventures.
"The key now is that political frameworks facilitate investment and scaling, so Europe can fully realise its potential in energy technology.
The energy transition offers the opportunity to drive economic growth, strengthen energy sovereignty, secure jobs, and enhance competitiveness."
An open door for energy innovators
For startups or scale-ups interested in potential investment, Lozek urges.
“Just reach out. If you’re building digital or software-driven technology that can make a real difference in the energy transition, we’re happy to talk.
We respond quickly — either with interest or suggestions for other investors with a better fit. We see a lot, and we’re always open to connecting founders with the right people.”
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