Amsterdam-based Move Energy Fund secures €10M from InvestNL: Know more

Amsterdam-based Move Energy Fund, a venture capital focusing on early-stage ventures and technologies supporting the energy transition, announced on Tuesday that it has secured €10M from Invest-NL, a National Financing and Development Institution of the Netherlands.

The announcement comes after Invest-NL received €900M from the government in additional financing up to and including 2029.

Move Energy Fund I

The Move Energy Fund I, with a target fund capital of €100M focuses on decarbonising the power, transport, and buildings sectors, together responsible for 55 per cent of global CO2 emissions.

This investment follows the fund’s first close in December 2023, which included Pon Holdings as a cornerstone investor.

Move Energy specialises in Series A funding for transformative hardware and software ventures across Europe, focusing on the Dutch market.

To date, the fund has invested in five companies. Move Energy expects to reach its final close by the end of Q1 2025, targeting a hard cap of €150M. 

Lex Roukens, Managing Partner at Move Energy, says, “We are thrilled to welcome Invest-NL as a key investor. This commitment validates our mission and strategy and paves the way for further growth. We look forward to collaborating with Invest-NL to support groundbreaking ventures focused on the energy sector and decarbonization of the power, transport, and buildings sector.”

Invest-NL: What you need to know

Invest-NL is the National Financing and Development Institution of the Netherlands.

Its mission is to provide financing to companies and innovations that currently do not have sufficient access to existing financing options.

Invest-NL works together with various stakeholders, including entrepreneurs, other financiers and investors, and development specialists from both the public and private sectors.

Tim van Vledder, Investment Manager at Invest-NL, adds, “Our investment in Move Energy Fund I aligns perfectly with our mission to drive the energy transition. By backing innovative companies in electrification and energy storage, we are advancing critical technologies for a carbon-neutral future. The Move Energy team has an extensive background in venture capital and the energy market. We are excited to join forces with Move Energy to accelerate this impact. ”