GCV Emerging Leader Frederico Gonçalves is now partner and managing director of the CVC arm, following former head Luís Manuel’s departure.

Frederico Bilelo Gonçalves

Frederico Bilelo Gonçalves has been appointed head of Portuguese utilities firm EDP’s corporate venture capital arm, EDP Ventures.

Launched in 2008, EDP Ventures backs early to late-stage renewable energy and sustainability companies globally. Grid, green hydrogen, AI, energy storage and mobility are among the target technologies.

Gonçalves has been with EDP for nearly two decades, starting in an M&A and corporate development role. EDP Ventures took him on board in 2010 and GCV named him an Emerging Leader this year.

Luís Manuel, former partner and managing director of EDP Ventures, departed from EDP earlier this month. He had been with the parent firm since 2008 and featured the GCV Powerlist in 2023 and 2024. He has yet to disclose his next steps.

EDP Ventures has some 40 active portfolio companies and logged eight exits to date. It has recently made more investments in the US, including AI-based power infrastructure platform Splight, ocean carbon capture technology developer Captura and Yotta Energy, which provides solar energy storage.

The unit’s 11 team members are based across Portugal, Spain and Brazil. Earlier this month, Lisbon-based Luís Fábrica was promoted from investment associate to investment manager.

Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.