Suma Capital, an investment manager focused on sustainability, has announced the final closing of its SC Net Zero Ventures I fund. The fund raised €210 million (approximately USD$249 million) to invest in startups that are accelerating industrial decarbonisation across Europe. This fundraising effort has significantly surpassed the initial target of €150 million set for the climate tech venture fund.
The investment vehicle targets companies in the expansion stage that are advancing the energy transition. These companies are involved in technologies that enable low-carbon mobility, industrial electrification, renewable energy, hydrogen, advanced fuels, storage, and digital solutions for smarter energy management. In addition to providing capital, Suma Capital offers its portfolio companies strategic support and access to an industrial network to expedite the adoption of Net Zero solutions.
Initial investments from the fund include energy storage company HESSTEC, grid digitalisation startup Corinex, green hydrogen producer H2SITE, and electric vehicle charging technology company V2C.
Natalia Ruiz, a partner at Suma Capital, stated, “With this final close, we reinforce our role as a reference partner for companies leading industrial decarbonisation in Europe. Through SC Venture, we support climate scaleups with validated technology and commercial traction, driving their expansion and their long-term environmental and competitive impact.”
The fund is supported by a diverse group of investors, including Repsol, which serves as the anchor investor, the European Investment Fund, Spanish public institutions, as well as international fund-of-funds, foreign institutions, and family offices.
Gema García, Head of Repsol Corporate Venturing, commented, “At Repsol, we believe alliances are essential to accelerate the energy transition. Our participation as anchor investor in SC Net Zero Ventures I reinforces the ambition to promote technologies with real industrial application, capable of generating measurable environmental impact and delivering long-term competitiveness. Collaboration with Suma Capital is an example of how capital and industry can move forward together towards the 2035 goals.”
