Barcelona-based funding agency Suma Capital has closed its ClimateTech-focused fund, SC Internet Zero Ventures I, securing €210 million to again scale-ups advancing industrial decarbonisation throughout Europe.
This ultimate quantity exceeds the fund’s authentic €150 million goal by 40% and goals to bridge the infamous ‘scale-up hole’ for local weather applied sciences – notably these tackling high-emission sectors.
Alongside Repsol, the European Funding Fund (EIF) has dedicated capital, as have a number of Spanish public establishments together with ICO, CDTI, ICF, IVF and Seed Bizkaia.
“With this ultimate shut, we reinforce our position as a reference associate for corporations main industrial decarbonisation in Europe. By way of SC Enterprise, we assist local weather scale-ups with validated know-how and business traction, driving their growth and their long-term environmental and aggressive impression,” mentioned Natalia Ruiz, Accomplice at Suma Capital.
Based in 2007, Suma Capital has constructed a monitor file of investing in sustainability and infrastructure. With a workforce unfold throughout Barcelona, Madrid, Paris, and Milan, the agency is steadily positioning itself as a pan-European reference in sustainable funding.
By way of SC Internet Zero Ventures I, the agency is doubling down on its capital-with-purpose mannequin – pursuing each monetary returns and tangible, traceable local weather impression.
The fund’s alignment with the EU’s 2050 local weather neutrality targets additional underlines its relevance, as governments and corporates throughout Europe race to decarbonise the continent’s industrial base.
“At Repsol we consider alliances are important to speed up the vitality transition. Our participation as anchor investor in SC Internet Zero Ventures I reinforces the ambition to advertise applied sciences with actual industrial software, able to producing measurable environmental impression and delivering long-term competitiveness. Collaboration with Suma Capital is an instance of how capital and trade can transfer ahead collectively in the direction of the 2035 objectives,” added Gema García, Director of Repsol Company Venturing.
Managed underneath the agency’s SC Enterprise technique, SC Internet Zero Ventures I’ll deal with startups with validated know-how and business traction working in key industrial and B2B verticals. These embody low-carbon mobility, electrification of business processes, renewable vitality storage, carbon utilisation, and hydrogen innovation.
Notably, the fund has already begun deploying capital right into a quartet of European ClimateTech ventures:
- HESSTEC (vitality storage)
- Corinex (vitality grid digitalisation)
- H2SITE (inexperienced hydrogen)
- V2C (good EV charging).
With capital now in hand, SC Internet Zero Ventures I seems to turn into a significant lever in accelerating Europe’s transition to a greener, extra aggressive financial system – one scale-up at a time.
