The CVC grows to €1bn in committed capital and becomes one of the largest venture capital units focused on electrification, digitisation and decarbonisation.

Manufacturing, robotics
Photo by Mech Mind on Unsplash

The corporate venturing arm of French conglomerate Schneider Electric has announced a 500m ($519m) fund that will focus on clean energy and industrial automation.

The new investment brings total committed capital at SE Ventures to €1bn. It is the second fund launched by the unit – its first was launched in 2018. Fund II will begin deployment in January 2023.

“We live in a world that is facing crises on three fundamental levels: energy, economy and climate,” said Nadège Petit, chief innovation officer of Schneider Electric, in a release. “There’s never been a greater need for transformation, or a greater opportunity for positive impact.”

It is one of the largest CVC funds announced recently and follows a slew of new entrants to corporate venture capital to emerge in the fourth quarter, despite the economic downturn.

SE Ventures was set up in 2017 by Heriberto Diarte who left the unit earlier this year. Diarte told GCV about how he set up the unit in order to maximise its chances of success.

Energy and climate tech deals have proven particularly resilient due to the energy crisis and continued focus on the energy transition.

Through its first fund, SE Ventures has invested in more than 40 startups and seven venture funds.  

Kim Moore

Kim Moore is the deputy editor of Global Venturing and produces video for the website.