Invest-NL invests €10M in SET Ventures to accelerate the energy transition

Invest-NL today announced a recent investment of € 10 million in SET Fund IV. The fund, managed by SET Ventures, invests in companies built on digital technologies and data that accelerate to transition to a carbon-free energy system. SET Fund IV focuses on digital energy system solutions which SET views as essential for the energy transition. The path to a carbon-free economy relies on effectively scaling many of the solutions that are already available today. As the cost of solar, wind and batteries continues to decrease, new innovative business models and services accelerate this transformation and encourage adoption of distributed energy systems by consumers and businesses.

SET Ventures' strategy aligns with Invest-NL's direct, hardware-focused investments, underscoring the belief that innovation at every level of the technology stack is required to advance the energy transition. A successful strategy necessitates a systemic approach, integrating all aspects to make informed and impactful investment decisions. As a frontrunner in energy transition investments, SET Ventures expects to present significant co-investment opportunities, particularly in larger Series A or subsequent funding rounds.

Evelien Bijl, Investment Manager at Invest-NL: “We at Invest-NL are thrilled to partner with SET Ventures in advancing a carbon-free energy system. SET Ventures' commitment to supporting digital energy system solutions aligns perfectly with our aim to foster impactful, sustainable innovations.”

Anton Arts, Managing Partner, at SET Ventures, said: “At SET Ventures, we believe that many of the technologies required to reach net-zero are already here. Our fund therefore invests in digital-first companies that leverage innovative business models and applications to drive real change with consumers and companies. We’re excited to have Invest-NL involved as a part of Fund IV.”

Other investors in SET IV Fund include the European Investment Fund (EIF), ABN AMRO Bank, Triodos and ASR.