The venture capital fund, managed by Suma Capital in strategic alliance with Repsol and focused on investing in technologies to accelerate the energy transition, attracts the trust and backing of investors, who endorse its strategic vision.

SC Net Zero Ventures, the venture capital investment fund managed by Suma Capital in strategic alliance with Repsol as anchor investor, has completed its first closing raising €125 million.

The fund has a target of €150 million. This substantial first closing is a very important step towards achieving the fund’s objectives. It also underlines the strong investor confidence and support for SC Net Zero Ventures’ strategic vision and purpose: accelerating the energy transition.

“We are grateful for the strong support we have received during this first closing. The engagement of our investors not only strengthens the significant momentum we are experiencing in innovation, but also highlights the importance of sustainable initiatives to achieve climate neutrality by 2050. From the fund, we are very well positioned to channel capital into the ClimateTech sector, with a double lens: driving technological solutions that contribute to decarbonisation and, at the same time, creating attractive financial returns,’ says Natalia Ruiz, Managing Partner of SC Net Zero Ventures.

SC Net Zero Ventures has a diversified and high quality investor base that includes the backing of leading players in the energy transition such as the company Repsol, together with Fond-ICO Next Tech (Axis-Instituto de Crédito Oficial), the Institut Català de Finances and other institutional investors and family offices.

Repsol, which has contributed 50 million euros, is the anchor investor of SC Net Zero Ventures. The multi-energy company teamed up with Suma Capital in 2022 to promote the creation of this fund, which seeks to embrace greater opportunities in the detection and scaling of technologies to advance the transformation of the industry and the energy transition. In addition, it accompanies companies that develop technologies aimed at decarbonisation and the circular economy to foster their growth, international expansion and accelerate their application on an industrial scale.

“New technologies will play a key role in the fight against climate change. It is therefore essential to detect them and scale them up as quickly as possible. We are convinced that our commitment to SC Net Zero Ventures, together with the work we do from the company’s own Corporate Venturing fund, Repsol Deep Tech, is an important boost for the entrepreneurial ecosystem, which will contribute to accelerating the decarbonisation of industry and mobility”, says Gema García, Director of Repsol Corporate Venturing.

SC Net Zero Ventures, classified under Article 9 of the EU Sustainable Finance Disclosure Regulation (SFDR), given its sustainable investment objective and contribution to environmental goals, will invest capital in growth-stage disruptive technologies, primarily in Europe and North America, with great potential to drive the energy transition.
The fund addresses two key challenges: the reduction of CO2 emissions and the reduction or revaluation of waste. To this end, the investment team will focus on identifying technologies related to low carbon mobility, industrial decarbonisation and renewable energy sources. SC Net Zero Ventures aims to generate a lasting impact by supporting more mature and innovative startups with disruptive technologies that contribute to moving towards a more sustainable future.

To manage the fund, Suma Capital has assembled a multidisciplinary team with extensive experience in venture capital, environmental impact investments and the development of technologies for the energy transition. This approach is complemented by the support of an impact committee and a technology committee, made up of independent experts and scientists from the Repsol Technology Lab, the multi-energy technology and innovation centre.

“With this fund, which marks Suma Capital’s third investment approach, alongside Growth Capital and Sustainable Infra, we seek to help companies advancing technologies for the green transition and circular economy. Our goal is to foster their growth and facilitate international expansion during the scale-up phase,’ concludes Enrique Tombas, Chairman of Suma Capital.