ABN AMRO Corporate Investments, a division of the Dutch bank ABN AMRO, has recently made a strategic investment in SET Fund IV.
Managed by SET Ventures, this fund is instrumental in driving data and digital technology companies towards a greener future, focusing on the crucial energy transition to a zero-carbon society.
The exact amount invested by ABN AMRO in SET Fund IV has not been disclosed. However, it’s part of a broader commitment by the bank to invest a total of €1 billion in initiatives that align with its ambitious climate strategy. This third climate-related fund investment by ABN AMRO signifies a robust push towards more sustainable corporate practices and eco-friendly technological advancements.
SET Ventures, an influential investment company, is well-known for its contribution to nurturing innovative enterprises. By providing crucial growth capital, SET Ventures aids these companies in emerging as successful market leaders, particularly in the realm of digital and technological solutions centred around Europe’s energy transition. This collaboration with ABN AMRO is a testament to SET Ventures’ commitment to forging a sustainable future through technology and innovation.
The newly acquired funds will be pivotal for SET Ventures in continuing their support for young, rapidly growing companies. These companies, critical to the transition towards sustainable practices, often find it challenging to qualify for traditional bank products and credit lines. The investment by ABN AMRO Corporate Investments not only offers financial support but also opens doors to new opportunities and networks, crucial for these burgeoning tech enterprises.
Additional information highlights ABN AMRO’s comprehensive climate strategy, announced towards the end of 2022. The strategy is a key component in building momentum for a net-zero economy by 2050. The bank’s commitment, through direct investments, fund investments, and hybrid capital deals, is geared towards financing this transition effectively.
Floris Lyppens, Managing Director of ABN AMRO Corporate Investments, emphasized the significance of this investment. “SET Ventures is a leading impact investor specializing in digital and technological solutions around Europe’s energy transition. This investment is a way for ABN AMRO to provide capital to young, fast-growing companies that are helping the economy to transition to sustainability, but do not yet qualify for credit lines and other bank products,” he said.
Anton Arts, Partner at SET Ventures, also expressed his views. “We are very pleased to be working with ABN AMRO. This collaboration underlines the growing importance of venture capital in bridging the gap between pioneering startups and traditional financial institutions. Together, we hope to foster a new generation of companies that will be crucial for achieving a zero-carbon energy system,” he said.
The investment in SET Fund IV is not the first of its kind for ABN AMRO Corporate Investments. It is their third significant foray into climate-related fund investments, reinforcing their commitment to a sustainable future.
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