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Laxman Pai, Opalesque Asia: SE Ventures, a venture-investing firm backed by French energy and automation giant Schneider Electric SE, is launching a EUR 500 million ($518 million) second investing fund.
The VC focusing on climate and industrial technology said in a media release that this move builds upon a 2018 Fund I to bring SE Ventures to €1 billion of committed capital.
"Fund II will begin deployment in January 2023, doubling down on SE Ventures' track record of success as an accelerant for category-defining companies in climate-tech, industrial AI, mobility, prop-tech, and cybersecurity," the release said.
Structured like a typical venture fund, SE Ventures prioritizes agility in decision-making and commercial acceleration of its investments, while providing unparalleled access to Schneider Electric's global ecosystem of customers and partners.
Throughout Fund I, SE Ventures has repeatedly proven the efficacy of its unique model, with investments in over 40 startups and seven venture funds alongside partnership engagement with over 200 startups.
"We live in a world that's facing crises on three fundamental levels: energy, economy, and climate," said Nadege Petit, Chief Innovation Officer of Schneider Electric. "There's never been a greater need for transformation, or a greater opportunity for positive impact - an impact that we create by innovating in three fundamental ways: electrification, digitali...................... To view our full article Click here
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