Schneider Electric commits $520 million to SE Ventures Fund II
SE Ventures, a venture-investing firm backed by French energy and automation giant Schneider Electric SE, has announced a roughly $520 million new fund which will target start-ups building digital tools in areas like climate technology, predictive maintenance and the internet-of-things.
Combined with its inaugural fund, launched in 2018, Fund II will bring more than one billion dollars in committed capital to the table. Cash from the new fund will begin to be deployed in January.
“We live in a world that’s facing crises on three fundamental levels: energy, economy and climate,” said Nadège Petit, Chief Innovation Officer of Schneider Electric, in this news release. “There’s never been a greater need for transformation, or a greater opportunity for positive impact – impact that we create by innovating in three fundamental ways: electrification, digitalization and decarbonization. Through this Fund II launch, which is a continuation of our capital allocation strategy to the start-up ecosystem, we are reinforcing our commitment to a future where startups with bold solutions and companies with bold ambitions together have access to the resources, tools and partners they need to meet this moment and make an even better future.”
Schneider Electric operates a tech hub in Franklin and two facilities in Smyrna.
