Bullet points of Dutch clean energy investor SET Ventures lands new €200 million fund, which will go toward digital tech

Bullet points of Dutch clean energy investor SET Ventures lands new €200 million fund, which will go toward digital tech
- SET Ventures, a Dutch climate-focused VC firm, has raised its fourth fund, worth €200 million, which is twice the size of its previous one.
- The fund will be deployed into 20 to 25 European startups making renewable energy more mainstream.
- SET Ventures' managing partner Anton Arts believes that a larger fund can drive early-stage firms towards writing larger checks at later stages, driving them away from their area of expertise.
- To avoid this, SET plans to do more deals, not larger deals, by focusing on Series A investments, with initial checks between €2 and €5 million.
- SET's thesis has evolved to focus on digital technologies needed for a carbon-free energy system, differentiating it from other climate-focused firms.
- The firm is willing to invest in companies with a hardware element, but believes software plays a crucial role in bringing innovation to a larger audience through automation.
- SET Ventures has widened its net by adding an office in Germany and plans to increase its geographical coverage with its new fund.
- The firm sees founders with expertise from other sectors applying their learnings to climate startups as a key factor in driving the energy transition.