EIT InnoEnergy and everis to launch investment fund to accelerate the energy transition

EIT InnoEnergy, the innovation and entrepreneurship engine in sustainable energy in Europe, and the multinational business consultancy everis, through its subsidiary i-deals, have announced the launch of a fund to invest in startups and technological scale-ups mainly operating in Spain in the field of the energy transition. This fund will start operating in early 2021, with the aim of leveraging investments of between 25 and 30 million euros.

EIT InnoEnergy & everis

The two entities have been collaborating for years in the analysis of investment opportunities and business development for early-stage technology companies in the energy sector and have now decided to seal this agreement to promote an independent venture capital fund manager and an open fund to new investors. "The energy transition must be one of the ways of economic recovery in Spain after COVID-19 and, therefore, we want to promote it by helping those innovation projects that have the greatest potential. We know that this fund is going to be a great opportunity for many entrepreneurs with great ideas but who need financial support right now to transform our energy future, ”says Mikel Lasa, EIT InnoEnergy Iberia CEO. Werner Zippold, i-deals CEO, has also shown his satisfaction with this alliance. "We are the ideal promoters to start this fund and we are sure that in the coming months we will add new partners, both from the public and private sectors, who are convinced of the enormous entrepreneurial potential that exists in our country and of the great opportunity that offers the energy sector".

The fund

The fund will have a target size of between 25 and 30 million euros, of which 5 are already committed by the EIT holding company InnoEnergy and the venture capital arm of the everis Group (FiTalent). The promoters hope to be able to close the rest of the fund's capital before the end of the year and start investing in early 2021. This fund will mainly invest in technology companies in initial and growth phases that have developed disruptive solutions with options to be industrialized and implemented on a large scale, generating a relevant impact on the energy transition.