SC Net Zero Ventures Raises €125 Mn For Energy Transition

SC Net Zero Ventures Raises €125 Mn For Energy Transition

SC Net Zero Ventures, the venture capital investment fund managed by Suma Capital in strategic alliance with Repsol as anchor investor, has completed its first closing raising €125 million.

The fund has a target of €150 million. This substantial first closing is a very important step towards achieving the fund’s goals. Furthermore, this milestone underlines the strong investor confidence and support for SC Net Zero Ventures’ strategic vision and purpose: accelerating the energy transition.

“We are grateful for the strong support we have received during this first closing. The commitment of our investors not only strengthens the significant momentum we are experiencing in innovation; it also highlights the importance of sustainable initiatives to achieve climate neutrality by 2050. Through the fund, we are very well positioned to channel capital into the ClimateTech sector, with a double focus: to boost technological solutions that contribute to decarbonisation and, at the same time, create attractive financial returns,” says Natalia Ruiz, Managing Partner of SC Net Zero Ventures.

SC Net Zero Ventures has a diversified and high-quality investor base that includes the backing of prominent players in the energy transition, such as the multi-energy company Repsol along with the Spanish sovereign wealth fund Fondo ICO Next Tech, the Institut Català de Finances, and other institutional investors and family offices.

Repsol has contributed €50 million, which makes it the main investor in SC Net Zero Ventures. The multi-energy company allied with Suma Capital in 2022 to drive the creation of this fund that seeks to embrace greater opportunities in the detection and scaling of technologies to advance the transformation of the industry and the energy transition. In addition, it supports companies that develop technologies aimed at decarbonisation and the circular economy to promote their growth and international expansion and accelerate their application on an industrial scale.

“New technologies will play a key role in the fight against climate change. Therefore, it is essential to detect and scale them as quickly as possible. We are convinced that our commitment to SC Net Zero Ventures, together with the work we are doing from the company’s own investment fund, Repsol Deep Tech, represents an important boost for the entrepreneurial ecosystem, which will contribute to accelerating the decarbonization of industry and mobility,” says Gema García, Director of Repsol Corporate Venturing.

SC Net Zero Ventures, classified under Article 9 of the European Union’s Sustainable Finance Disclosure Regulation (SFDR), given its sustainable investment objective and contribution to environmental goals, will invest capital in growth-stage disruptive technologies, primarily in Europe and North America, with great potential to accelerate the energy transition.

The fund addresses two key challenges: the reduction of CO₂ emissions and the reduction or revalorization of waste. To this end, the investment team will focus on identifying technologies related to low-carbon mobility, industrial decarbonization, and renewable power sources. SC Net Zero Ventures aims to make a lasting impact by supporting more mature and innovative startups with disruptive technologies that contribute to moving towards a more sustainable future.

The fund is managed by an independent team that combines Suma Capital’s long track record in ESG investments with Repsol’s experience in venture capital investments and solid knowledge of energy transition technologies. This management team is also supported by a technology committee made up of scientists from the Repsol Technology Lab, a multi-energy technology and innovation center, and independent experts.

“With this fund, which marks Suma Capital’s third investment approach, alongside Growth Capital and Sustainable Infra, we seek to help companies advancing technologies for the green transition and circular economy. Our goal is to foster their growth and facilitate international expansion during the scale-up phase,” concludes Enrique Tombas, Chairman of Suma Capital.