Yellow&Blue Investment Management, a Utrecht-based clean energy venture investor founded by the Dutch utility Nuon in 2008, has emerged as one of Europe’s leading investors in smart grid, renewable and energy-efficient technology companies.

Its managing director, Albert Fischer, has clear views about how utilities should do corporate venturing, which he describes as “industrial crowdfunding”.

Fischer said: “The key question is how much freedom a utility really has to invest in a disruptive technology. If the venturing unit is kept in-house then its survival is subject to the whims of a new chief executive, who should…