ImpactAlpha, November 21 — French electrical equipment maker Schneider Electric launched SE Ventures, its corporate venture capital arm, with an initial €500 million ($516.3 million) in 2018. Schneider is committing an additional €500 million to invest in climate tech, industrial AI, mobility, proptech and cybersecurity.
“We live in a world that’s facing crises on three fundamental levels: energy, economy and climate,” said Schneider’s Nadège Petit. “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.” SE Ventures will begin deploying the fund in January.
SE Ventures has backed seven venture funds and more than 40 startups. Portfolio companies include Cambridge, Mass.-based Sense, which helps homeowners monitor energy usage in real-time; and AiDash, a San Jose-based company that forecasts storm and wildfire damages for utilities, energy companies and municipalities. GreenStructure, a joint venture between Schneider Electric and impact investor Huck Capital, covers upfront costs for large building owners to transition to clean energy.