Shell, BNP Paribas and PTT Group have all made commitments to the third fund to be raised by energy-focused VC firm Set Ventures, which is targeting an $85.5m close.
Netherlands-based venture capital firm Set Ventures has secured commitments from petroleum producer Shell, energy utility PTT Group and banking group BNP Paribas for a fund with a €75m ($85.5m) target.
The fund, Set Fund III, also counts Energiiq and BOM Brabant Ventures, funds managed by Dutch development agencies InnovationQuarter and De Brabant Development Agency, as limited partners, along with family office Korys, the Finnish-state backed fund Sitra and European Investment Fund.
Shell made its contribution to the fund through its…
