18 July 2024
Elia Group invests in SET Ventures to support digital innovation in the energy sector
Elia Group is investing €12.5 million in SET Fund IV, a €200 million international venture capital fund managed by SET Ventures. This capital will be invested progressively over the next 4 years in European start-ups that are developing digital technologies and services and are mature enough to be scaled up.
This is the very first time that Elia Group is participating in a venture capital fund. The investment is being carried out by the holding company and is therefore separate from the Group's regulated activities (which are covered by consumer electricity bills). By collaborating with promising start-ups, Elia Group will be staying up to date with the latest trends and newest innovations.
Besides Elia Group, other participants in the fund include the European Investment Fund, ABN Amro, Triodos Bank, a.s.r., Carbon Equity and private (family) investment funds.
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Elia System Operator SA published this content on 18 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 July 2024 05:11:21 UTC.