The smart energy-focused Set Fund II has secured Shell, Essent and Delta as limited partners and expects to reach a final close by the end of March.

Netherlands-based venture capital firm Set Ventures has raised €60m ($67m) for its Set Fund II, securing commitments from energy utilities Essent and Delta, as well as petroleum supplier Shell.

Set Fund II reached its latest close in late 2015, though the figure was only released today. Essent, Delta and Topfonds Gelderland, a fund instituted by the Dutch province of Gelderland, initially acted as anchor investors for the fund in 2014.

The earlier backers have since been joined by Shell, which…