Christopher Moran, general manager of Applied Ventures, says: "We are excited about Aventa's progress in developing critical manufacturing technology for this emerging alternative energy sector. HTS technology has tremendous potential, and we are pleased that this investment will be used to make advanced grid solutions more affordable."

The corporate-backed state venture fund, which raised nearly $380m for the first close of its second venture fund in October last year, is in late-stage talks with one company started outside Germany, after securing the ability to invest overseas as part of the new fund.

CEC Capital has led a $24m Series B round into US-based Enevate, a rechargeable energy storage technology backed by Presidio Ventures, a corporate venturing unit of Sumitomo.

Leaps by Siemens add up to strategic evolution.

Sheffield spin-out Magnomatics raises $4m for its magnetic gear technology.

He joined Tata in February 2008 to assist with the Jaguar Land Rover acquisition and advises on India entry strategies for European portfolio companies.