French energy company TotalEnergies has sold most of its climate venture capital (CVC) arm, TotalEnergies Ventures, to French VC firm Aster.
With the acquisition, the French VC firm has raised a new fund dedicated to monitoring and financing nearly 20 clean energy companies. The portfolio is made of minority stakes in companies across Europe and the US mainly.
US-based investment adviser company North Sky Capital has joined as an investor of the FPCI fund – Fonds Professionnel de Capital Investissement or professional fund of capital investment in English – to support the portfolio of companies in future financing needs.
Jean-Marc Bally, managing partner at Aster, said: “This unprecedented operation testifies confidence in the Aster model and in our ability to develop solutions fully tailored to the needs of our subscribers.”
This marks the first private equity secondary market transaction for Paris-based company Aster, while strengthening its position in the climate tech innovation financing market.
Corporate funding has had a strong start in 2023, with a 55% sequential increase in the first quarter of 2023 and a total of US$8.4 billion of corporate investment made globally. The figure includes venture capital (VC) investment, public market and debt financing.
(The above content is reproduced from pv-tech，By Jonathan Touriño Jacobo）
Disclaimer: This website reproduces information from cooperative media, institutions or other websites. The publication of this article for the purpose of transmitting more information,and it does not imply endorsement of its views or confirmation of the authenticity of the content. All information on this website is for reference only and can’t be used as the basis for transactions or services. If there are any infringement or other issues in the content of this website, please notify it in time, then this website will be promptly modified or deleted. Anyone who logs in to this website in any way, or directly or indirectly uses the information on this website shall be deemed to have voluntarily accepted the binding of this website statement.
Post time: Jun-02-2023