Schneider-backed SE Ventures launches €500-mn Fund-II

SE Ventures, a global venture capital fund backed by Schneider Electric, has announced its €500-million Fund-II to help climate and industrial technology start-ups. This builds upon a 2018 Fund-I to bring SE Ventures to €1 billion of committed capital. “SE Ventures grows to one-billion euro, establishing itself as one of the largest venture capital platforms focused on electrification, digitisation and decarbonisation, building on a highly successful Fund-I track record,” a press release said. It added that Fund-II will begin deployment in January 2023. “Through this Fund-II launch, we are reinforcing our commitment to a future where start-ups with bold solutions and companies with bold ambitions together have access to the resources, tools, and partners that they need,” said Nadège Petit, chief innovation officer of Schneider Electric. Fund-I saw investments in over 40 start-ups and seven venture funds alongside partnership engagement with over 200 start-ups, the release added. See also: India in top five countries on Climate ChangeAustralian parliament passes Free Trade Agreement with India