E.ON’s current venturing team, Future Energy Ventures, has established a new, independent Luxembourg-domiciled venture capital fund, Future Energy Ventures Fund I SCA SICAV-RAIF.
This launch marks a new chapter for the venturing team in its mission to create a decarbonised future through Europe’s leading energy transition venture fund. E.ON, one of Europe’s largest operators of energy networks and energy-related infrastructure, has committed to be an anchor investor to the Fund.
In an important step towards the first closing of the Fund and the venturing team’s planned independent future outside of E.ON, BaFin, Germany’s financial regulator, has granted a license to a new independent company, Future Energy Ventures GmbH (FEV), with Jan Lozek as founder and managing partner. The BaFin license enables FEV to accelerate raising capital from investors and fulfils the key pre-requisite for FEV to act as an advisor on the management of the Fund.
The fund will focus primarily on Series A and B investments in digital and scalable business models that aim to transform the traditional energy value chain towards net zero. The Fund has three core investment themes within the energy sector: future energy, future cities, and future technologies. The Fund aims to funnel 100% of its capital toward sustainable investments, in accordance with Article 9 of the SFDR regulation. It will target the innovation hubs of Europe, North America and Israel. With a total target size of €250 million, the Fund is expected to hold its final closing in 2023.
To date, the team has exited 10 investments, delivering a realised 2.2 MOIC and 39% IRR. So far, the team has executed 50+ transactions in only six years.
The Fund is administered by global fund service provider Apex Group.
