GDF SUEZ Launches EUR 100 Mln Investment Fund to Support Innovative Startups
GDF SUEZ is launching GDF SUEZ New Ventures, an investment fund to provide financing by the Group for innovative startups. The €100 million fund is part of the new GDF SUEZ endeavor to support innovation and develop new business in the energy sector undergoing rapid changes.
The main objective of the fund is to support innovative, value-generating startups (new technologies, business model, etc.) likely to provide innovative services applicable to the energy transition. The fund will first focus on Europe, North America, Asia, and Israel, and will eventually have a global reach.
The targeted sectors are:
- Energy control and load management,
- Cities, regions and mobility,
- Indoor comfort,
- Decentralized power production and storage.
- Minority equity positions
The Group is interested above of all in startups that are seeking an industrial partner to test operational application of their innovations. GDF SUEZ selection process is based on strict financial criteria that may lead to taking a minority equity stake in qualified startups.
The GDF SUEZ New Ventures Board of Directors met for the first time on May 19, 2014. The fund will be headed by Jean-Louis Blanc, member of the GDF SUEZ Executive Committee and Commercial Director for the Group’s Innovation and Group New Businesses division.