Suma Capital has recently achieved an impressive milestone with the final closing of its climate tech fund, SC Net Zero Ventures I. This fund, which is part of Suma Capital’s broader venture strategy, successfully secured a total commitment of €210 million. This achievement marks a significant increase of 40% over its initial target of €150 million, demonstrating strong confidence and backing from various investors.
With this enhanced funding, the SC Net Zero Ventures I is better equipped to provide vital support to its portfolio companies, helping them bridge the gap in the European climate tech scale-up sector. The fund is primarily focused on supporting companies in the expansion or scale-up stage of development. This positioning reinforces Suma Capital’s commitment to playing a key role in promoting transformative technologies that contribute to the energy transition and industrial decarbonization throughout Europe. By aligning economic returns with measurable social impact, the fund exemplifies a model of purpose-driven investment.
One of the standout features of this fund is its diversified investor base, which combines vision from the industrial sector, institutional strength, and private capital. Among the key investors is Repsol, which serves as both an anchor investor and a strategic partner, particularly in efforts related to industrial decarbonization. Other notable supporters of the fund include the European Investment Fund, which is backed by the European Union, as well as various Spanish public institutions such as ICO, CDTI, ICF, IVF, and Seed Bizkaia. Additionally, the fund has gained interest from international fund-of-funds and foreign institutions, along with a select group of family offices. This diverse backing is a strong endorsement of the fund’s investment strategy and its capacity to foster Net Zero solutions that create a real impact in the economy.
The investment strategy of SC Net Zero Ventures I focuses on industrial and business-to-business companies in Europe that are implementing crucial technologies and scalable business models. The fund targets a range of areas, including low-carbon mobility and electric transport, decarbonization of industrial processes such as electrification of thermal processes and advanced biofuels, renewable energy sources and their storage, as well as digital technologies aimed at smarter energy management and optimization.
The fund not only provides flexible financial options but also offers strategic support and access to a network of industrial partners, all of which can accelerate the development and adoption of solutions aimed at achieving Net Zero emissions.
In addition to securing funding, the fund has already begun to strategically invest its capital in various promising companies. For instance, it has made investments in businesses like HESSTEC (specializes in energy storage), Corinex (focuses on grid digitalization and management), H2SITE (known for its innovative work in green hydrogen), and V2C (dedicated to smart charging solutions for electric vehicles). Each of these companies reflects the fund’s commitment to supporting technologies that are pivotal in facilitating industrial decarbonization and Europe’s overall energy transition.
SC Net Zero Ventures I aligns perfectly with the European Union’s ambitious climate goals, particularly the target of achieving climate neutrality by the year 2050. The fund is backed by a skilled management team that combines expertise in finance, technical knowledge, and industry experience. With operational hubs in major European cities such as Barcelona, Madrid, Paris, and Milan, Suma Capital is positioned to expand its influence across the continent, aspiring to become a leading reference point in environmental sustainability investment.
KEY QUOTES:
“With this final close, we reinforce our role as a reference partner for companies leading industrial decarbonization 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.”
Natalia Ruiz, partner at Suma Capital
“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.”
Gema García, Head of Repsol Corporate Venturing
