Sustainability-focused investment manager Suma Capital announced the completion of the final closing of SC Net Zero Ventures I, securing €210 million (USD$249 million) to invest in startups accelerating industrial decarbonization across Europe.
The fundraising significantly surpassed Suma’s initial €150 million target for the climate tech venture fund.
The investment vehicle focuses on companies in the expansion stage that are advancing the energy transition through technologies enabling low-carbon mobility, industrial electrification, renewable energy, hydrogen, advanced fuels, storage, and digital solutions for smarter energy management. Alongside capital, Suma Capital offers portfolio companies strategic support and access to an industrial network to speed adoption of Net Zero solutions.
Initial portfolio companies in the fund include energy storage company HESSTEC, grid digitalization startup Corinex, green hydrogen producer H2SITE and EV charging tech company V2C.
Natalia Ruiz, partner at Suma Capital, said:
“With this final close, we reinforce our role as a reference partner for companies leading industrial decarbonization in Europe. Through SC Venture, we support climate scaleups with validated technology and commercial traction, driving their expansion and their long-term environmental and competitive impact.”
The fund is backed by a diverse investor base, including Repsol as anchor investor, the European Investment Fund, Spanish public institutions, as well as international fund-of-funds, foreign institutions and family offices.
Gema García, Head of Repsol Corporate Venturing, said:
“At Repsol we believe alliances are essential to accelerate the energy transition. Our participation as anchor investor in SC Net Zero Ventures I reinforces the ambition to promote technologies with real industrial application, capable of generating measurable environmental impact and delivering long-term competitiveness. Collaboration with Suma Capital is an example of how capital and industry can move forward together towards the 2035 goals.”
