Fund promotes innovation in energy and environment
21 January 2010
A venture capital fund is tipped to instigate major breakthroughs in the fields of energy and environment after it was launched by Alstom and Schneider Electric. The fund, Aster Capital is based in Paris and will receive progressively a capital subscription of €70 million from the two companies.
Other industrial partners can be invited to join this initiative to create what the companies hope will become the European benchmark fund specialising in energy and the environment.
Aster Capital will benefit from the venture capital expertise that the Schneider Electric Ventures team has acquired since 2000 through the management of its first €50 million fund invested in more than 20 companies in North America and Europe. Two experts from Alstom have recently joined the team, further strengthening its capabilities.
The mission of Aster Capital is to take minority interests in innovative start-ups based in Europe, North America and Asia, developing new technologies that could lead to major breakthroughs in the fields of energy and the environment.
The two founding partners share the aim to support the development of innovative young companies and to nurture co-operation and partnerships for their respective markets.
Contact Details and Archive...
Most Viewed Articles...