Antwerp-based venture capital firm Junction Growth Investors has closed its first fund at €115M, exceeding its €100M target despite a tough funding climate.
The fund is backed by major family offices, including stakeholders from AB InBev and Umicore, as well as tech entrepreneurs like Jan-Willem Rombouts, Gregoire de Streel, and Jean-Guillaume Zurstrassen, among others.
Recently, Keeling Capital, a global investment fund-of-funds specialising in climate tech, also joined as an investor.
Ross Madden, Partner at Keeling Capital, says, “Junction Growth Investors’ distinctive approach to venture investing and deep domain expertise in building and scaling energy businesses make them an ideal partner as we work to accelerate the growth of innovative climate tech companies.”
“Their hands-on approach, industry knowledge, and extensive network will enable portfolio companies to build some of the most scalable and commercially successful, asset-light climate solutions in Europe.”
The fund also secured investments from institutional backers, including the European Investment Fund (EIF), BNP Paribas Fortis Private Equity, PMV, and the Belgian Growth Fund.
Funding growth for European SMEs driving the energy transition
Junction Growth Investors was founded in 2022 by entrepreneurs and investors including Bruno Vanderschueren (ex-Lampiris), Pieter-Jan Mermans (ex-REstore), Dirk Dewals (ex-Gimv), and Vincent Gregoir (ex-Inven Capital).
The firm focuses on scaling European SMEs and scale-ups in the energy transition, providing minority or majority growth capital with investments of up to €15M per deal.
Since its inception, Junction Growth Investors has grown to an eight-member team and invested in seven companies driving the energy transition, focusing on grid-enhancing technologies, B2B installers, sustainable buildings, home energy management systems, and industrial decarbonisation.
Dirk Dewals, Managing Partner at Junction, says, “Climate change continues to advance, leaving tangible impacts on societies and personal wealth. However, the energy transition is not solely about combating climate change.”
“It also presents a pivotal opportunity for Europe to reduce its dependence on geopolitically sensitive carbon fuels and to build a couple of European technology leaders with global reach such as Ampacimon, which has 50 per cent of its order book in the US.”
“We firmly believe that electrification, particularly in the B2B sector, will play a crucial role in driving this shift, and we are actively seeking enablers to accelerate this revolution.”
International investments
The fund has made two international investments in grid-enhancing technologies with Ampacimon (Belgium) and Eneida (Portugal), which support low-cost grid expansion and increased renewable energy adoption.
Additionally, it has invested in two companies in the DACH region: Eturnity (Switzerland), which provides software to improve efficiency and digitalisation for renewable energy installers and manufacturers, and EET (Austria), which offers a smart plug-in battery solution for renters and apartment owners to reduce energy costs and participate in the energy transition.
Junction Growth Investors has also backed Hysopt (Belgium), a SaaS platform that optimises complex HVAC systems in commercial and industrial buildings to improve energy efficiency and reduce emissions.
Another investment, Haulogy (Belgium), a “De Tijd Changemaker” nominee, provides software solutions for Distribution System Operators (DSOs) and energy utilities, including asset management and congestion management tools.
Additionally, through its recent buyout of Solora (Belgium) alongside BNP Fortis Private Equity, Junction has become the majority shareholder of a B2B installer and maintainer of large-scale solar and battery storage systems in the Benelux and France.
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