Schneider Electric and Alstom launch Aster Capital venture capital fund to finance energy and environment start-ups

(20/01/2010)

Schneider Electric and Alstom are joining forces to launch Aster Capital, a new venture capital fund to finance innovative start-ups in the fields of energy and the environment. This joint initiative also remains open to the participation of other potential partners.

Aster Capital is based in Paris and will receive progressively a capital subscription of €70 million, from Schneider Electric (€40 million) and Alstom (€30 million). Other industrial partners can be invited to join this initiative to create the European benchmark fund specializing in energy and the environment.

Aster Capital will benefit from the venture capital expertise that the Schneider Electric Ventures team has acquired since 2000 through the management of its first €50 million fund invested in more than 20 companies in North America and Europe. Two experts from Alstom have recently joined the team, further strengthening its capabilities.

The mission of Aster Capital is to take minority interests in innovative start-ups based in Europe, North America and Asia, developing new technologies that could lead to major breakthroughs in the fields of energy and the environment.

The two founding partners share the aim to support the development of innovative young companies and to nurture cooperation and partnerships for their respective markets.

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