SET Ventures launches €200M fund to boost climate tech startups
Amsterdam’s SET Ventures doubles the size of its last fund with €200m for climate tech adoption startups. European startups working to accelerate renewable energy adoption by making it more accessible, scalable, and efficient will benefit from this fund, aiding the transition to a carbon-free energy system.
Funding for EU startups that are pushing renewable energy tech
Amsterdam-based venture capital firm SET Ventures has announced a new €200 million fund aimed at supporting European startups that are driving the adoption of renewable energy technologies. Doubling the size of its previous fund, SET Ventures will focus on 20-25 Series A startups that are developing digital solutions to make renewable energy more accessible and scalable.
The fund, backed by investors including the European Investment Fund, Triodos Energy Transition Europe Fund, Carbon Equity, and European grid operators, will invest initial cheques of €2-5 million, with the potential to provide up to €15 million per company. The goal is to help startups not just create new technologies, but to scale existing ones through innovative business models and digital applications.
The fund will focus on three areas: decentralisation, automation, and security. It aims to decentralise energy generation to reduce grid congestion, automate renewable energy solutions for wider user adoption, and ensure the security and reliability of energy infrastructure during the transition to a carbon-free system.
Growing climate tech innovation in Amsterdam
As climate change presents urgent challenges, SET Ventures highlights the need for solutions and investment opportunities to address critical issues. The fund has already backed four startups including the Dutch energy management software provider, Tibo Energy.
The success of SET Ventures funding initiatives reflects a maturing market with a growing global shift to combat climate change. Amsterdam is quickly becoming a key climate tech hub, with companies like Watermeln (hydrogen energy), GoodFuels (fossil-free transport), and Triple Solar (gas-free heating) driving innovation. Recent investments, such as Carbon Equity’s €10M Climate Infrastructure Fund, further strengthen the city’s role in climate technology.
