The public development bank shows its commitment to sustainability and is committed to investing in Climate Tech by accompanying technologies that help the decarbonisation of the industrial, energy and mobility sectors. The Catalan manager Suma Capital manages the fund, which has a target of €150 million and already has commitments of more than 75%.
The Catalan Institute of Finance (ICF) continues to support the management company Suma Capital. On this occasion, the public bank of the Generalitat will invest 6 million euros in the SC Net Zero Ventures (SC NZV) vehicle.
SC Net Zero Ventures is a fund that was created in 2022 by Repsol and Suma Capital to accompany projects in a scale-up stage that develop technologies aimed at the decarbonization of the industrial, energy, and mobility sectors with the aim of boosting their growth, international expansion, and the acceleration of their application on an industrial scale.
The ICF's investment policy fits perfectly with the objectives of the SC NZV fund, with an emphasis on the "zero emissions" transition, to achieve carbon neutrality by 2050, as established in the European Green Deal, through the decarbonisation of strategic sectors such as mobility, industry and the energy sector.
The investment culture and thesis of ICF and Suma Capital is consolidated in the latter vehicle of the Catalan management company, which since its inception has clearly and continuously committed to ESG aspects. The ICF is proud to contribute to the consolidation and growth of Suma Capital, the leading Catalan venture capital fund manager in sustainability with more than 15 years of history, and €1,000 million of assets under management.
Vanessa Servera i Planas, CEO of the ICF, explains that "among the priorities of public development banks is to grow strategic areas of the country, such as sustainability and decarbonisation. Catalonia, like the rest of the world, has the primary challenge of making economic growth compatible with environmental and social sustainability. At the ICF Group we are aware of this challenge, and we are working to ensure that our activity represents a real boost to this process of transformation of the Catalan economic fabric".
"With this latest fund, which marks Suma Capital's third investment focus, together with Growth Capital and Sustainable Infra, we seek to help companies that advance technologies for the ecological transition and the circular economy. Our goal is to foster your growth and facilitate international expansion during the scaling phase. In this regard, we would like to thank the ICF for its support and commitment to Suma Capital's strategy of investing in projects that generate a positive impact on society and the environment. We are convinced that this is the way to create long-term value for our investors, our partners and, of course, our environment," said Enrique Tombas, Chairman of Suma Capital.