ABN AMRO is reportedly investing in SET Fund IV, a fund focused on data and digital technology companies that help accelerate the energy transition to a zero-carbon society.
As noted in a blog post, the fund is managed by SET Ventures, an investment company “that provides growth capital to innovative enterprises, enabling them to become successful market leaders.”
For ABN AMRO Corporate Investments, this is reportedly “the third climate-related fund investment.”
Floris Lyppens, Managing Director of ABN AMRO Corporate Investments, said:
“SET Ventures is a leading impact investor specialising 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.”
Anton Arts, Partner at SET Ventures, said:
“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.”
Climate strategy
This investment is in line or consistent with ABN AMRO’s climate strategy, announced “at the end of 2022.”
The bank’s climate strategy is key in “building momentum to accelerate the transition to a net-zero economy by 2050.”
ABN AMRO is investing a total of € 1 billion “in startup capital through a series of direct investments, fund investments and hybrid capital deals to finance this transition.”
At the same time, the investment will “give a strong boost to the knowledge and network available for the bank’s current activities around the energy and digital transition.”
ABN AMRO has dedicated New Energy and Digital sector teams “that offer companies strategic advice and financing to help them transition to sustainability.”
