Amsterdam-based Move Energy Fund, a venture capital focusing on early-stage ventures and technologies supporting the energy transition, announced on Thursday that it has secured €35M commitment from the European Investment Fund (EIF) for its Fund I.
With this fund, the Dutch VC will invest in hard- and software ventures that accelerate the energy transition.
The fund specifically targets early-stage ventures focused on decarbonising power, transport, and buildings.
The announcement comes a couple of months after raising €10M from Invest-NL, a National Financing and Development Institution of the Netherlands.
The EIF’s backing and contributions from more than 30 investors, including main investor Pon Holdings, have increased the Fund’s total commitments to over €100M.
So far, the Fund has invested in five companies and intends to hold its final close by the end of Q1 2025, with a hard cap of €150M.
Move Energy: Supporting the energy transition companies
Move Energy is a venture capital specialist dedicated to supporting early-stage companies pioneering hardware and software solutions to decarbonise the power, transport, and buildings sectors.
With a focus on impact-driven investments, Move Energy aims to support the next generation of transformative ventures contributing to a more sustainable world.
Lex Roukens, Managing Partner at Move Energy, says, “We are thrilled to welcome the EIF as a key investor. This commitment validates our mission and strategy and paves the way for further growth. We look forward to collaborating with the EIF.”
European Investment Fund: Helping SMEs access finance
The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small, and medium-sized enterprises (SMEs) by helping them to access finance.
The EIF designs and develops venture and growth capital, guarantees, and microfinance instruments that specifically target this market segment.
“This investment reflects our commitment to driving the energy transition,” says Marjut Falkstedt, Chief Executive of the EIF.
“As COP29 has highlighted once again, limiting global warming and the shift towards sustainable energy production, consumption, and mobility, are critical in the fight against climate change. Private initiatives like this one are a signal that the market also sees economic opportunities in this context, and we are here to support them,” adds Falkstedt.
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