ABN AMRO invests in SET Ventures

Thursday 21 December 2023 14:39 CET | News

ABN AMRO has announced it is investing in SET Fund IV, a fund focused on technology companies that help accelerate the energy transition to a zero-carbon society. 

Per the announcement, the fund is managed by SET Ventures, an investment company that provides growth capital to innovative enterprises, with the intention of enabling them to become successful market leaders. Reportedly, for ABN AMRO Corporate Investments, this is the third climate-related fund investment. 

SET Ventures is an impact investor specialising in digital and technological solutions around Europe’s energy transition. The announcement further emphasised that 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.

ABN AMRO has announced it is investing in SET Fund IV, a fund focused on technology companies that help accelerate the energy transition to a zero-carbon society.

Officials from SET Ventures noted that this collaboration underlines the growing importance of venture capital in bridging the gap between pioneering startups and traditional financial institutions. Together, the intention is to foster a new generation of companies that would be important for achieving a zero-carbon energy system. 

Climate strategy 

This investment goes together with ABN AMRO’s climate strategy, announced at the end of 2022.  ABN AMRO is investing a total of EUR 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 is expected to give a strong uplift to the knowledge and network available for the bank’s current activities around the energy and digital transition.  

Moreover, ABN AMRO has dedicated New Energy and Digital sector teams that offer companies strategic advice and financing to help them transition to sustainability. 

More recent updates from ABN AMRO 

In December 2023, the bank announced that it attained an agreement to acquire BUX, intending to solidify its position in the retail investment sector. The acquisition of the neobroker intends to allow ABN AMRO to improve its digital offering while securing and strengthening its footprint in the retail investment market. The bank’s decision is based on BUX’s presence in Europe, with operations spanning across eight markets. BUX offers financial technology, a user-centric and intuitive platform, as well as a brand that aims to suit investor’s needs and requirements. 

In October 2023, ABN AMRO entered a collaboration with Motive Partners to support innovation and growth in the fintech landscape. The alliance would allow Motive Ventures, the venture arm of Motive Partners, to manage the ABN AMRO Ventures Fund (AAV), consisting of 15 early-stage companies. Additionally, ABN AMRO became a significant investor in Motive-managed vehicles. 

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Keywords: investment, funding, sustainability , Venture Capital
Categories: Banking & Fintech
Companies: ABN AMRO
Countries: Netherlands
This article is part of category

Banking & Fintech


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