Vireo Newsletter: Independence Day Edition
In this edition:
Happy Birthday, United States of America!
We would like to wish all our readers in the US, and our Summer Analyst Zeke Robertson who came from Kent State University to Berlin to support us, a joyful 4th of July!
This year, 16-time winner and record holder (76 hot dogs in 10 minutes), Joey Chestnut, won’t be competing in Nathan’s Hot Dog Eating Contest. Who will take the crown from Joey? This promises to be an exciting competitive eating event – tune in if you can!
In all seriousness, the transatlantic partnership between Europe and the US is essential for tackling the urgent environmental challenges of our time. It accelerates the growth of clean-tech start-ups, drives advancements in renewable energy, and promotes sustainable practices on a global scale.
Back in the Old World, we strive to contribute to this on all levels, from our portfolio start-ups working with US-based partners, investors, and customers, to some of our fund’s limited partners based in the US, to supporting policies that encourage transatlantic collaboration and set the right incentives to include both commercial and environmental goals. Especially in turbulent times with the presidential election approaching, it is important to stay focused on the global challenges that require international cooperation, and not get distracted by short-term political fluctuations.
Speaking about policy, we are members of the Cleantech for Europe alliance that aims to build bridges between the EU’s cleantech community and policymakers. One example of the initiatives we co-signed is the recent open letter on public guarantees for cleantech projects. You may also be interested in the interview with our partners Sven and Thomas on the Cleantech for Europe website.
EnBW New Ventures invests in our fund and joins our Active Investors Community!
We are extremely proud that EnBW New Ventures has chosen to invest in our Electrification Fund I.
Through the collaboration with Vireo Ventures, the EnBW New Ventures team significantly expands its cleantech network and gets even closer to international seed investments and the development of early-stage startups. A recent example of this is the investment in Cozero , which EnBW New Ventures discovered through us.
For us at Vireo Ventures, the partnership with EnBW New Ventures is incredibly valuable. It is a great vote of confidence that the Corporate Venture Capital unit of a large energy company like EnBW is investing in us, and the team at EnBW New Ventures is a real pleasure to work with. We have known Melanie Beyersdorf and Crispin Leick for a very long time, and their involvement in our Active Investor Community is bringing immediate value for everybody involved: our LPs, our portfolio companies, and ourselves, by sharing insights, expertise, and fostering meaningful connections that drive innovation and growth.
Global Corporate Venturing commented: “EnBW New Ventures usually invests directly in startups, but occasionally uses 'fund of funds' investments for strategic reasons. This is another good example of how experienced CVC investors use LP positions in VC funds very intentionally”. Read more on the Global Corporate Venturing website.
The partnership with EnBW New Ventures exemplifies the strategic alignment we seek with Corporate VC groups. We are currently in discussions with several other prominent players in this category and look forward to welcoming new members to our Active Investors Community.
Vireo at The Smarter E
With more than 3,000 exhibitors and over 110,000 visitors, Munich was buzzing while The smarter E , Europe’s largest alliance of exhibitions for the energy industry, went down.
From our Vireo Ventures fund and pre-fund portfolios, Amperecloud , Atmen , FLEXECHARGE , ECO2GROW , e-mobilio , HeyCharge , PIONIX GmbH and suena were there to showcase their solutions. We at Vireo brought almost our entire team to Munich to host the combined startup stage of Intersolar, The Smarter E and Power2Drive, with more than 50 companies on stage pitching to find partners, customers and investors.
We also co-hosted a Startup x VC Sundowner, together with our friends at World Fund and BRYCK, enjoying some pizza, drinks on the roof terrace, and a competitive football match on the telly.
Thanks to everybody attending!
Recommended by LinkedIn
New deals… we can’t talk about
Our fund portfolio has now grown to a total of 11 companies across the whole electrification value chain. And virtually all of these are going strong, with the first of the bunch now raising follow-on rounds, generating lots of investor interest.
If only we could tell you about the latest investments we have made… But unfortunately, three portfolio companies are still undisclosed, and all we can do is provide teasers:
Sounds interesting, right? Follow our LinkedIn feed to be the first to know when some of these are finally unveiled.
Here is an overview of all portfolio companies publicly announced:
Vireo goes Article 9
Our core investment thesis is that the electrification of the world will be unavoidable to accomplish the transition from fossil fuels to renewable energy sources. And all our investments contribute to the energy transition one way or another. Thus, all our investment activities have always, and will always, generate a positive impact on Sustainable Development Goals such as “Affordable and Clean Energy”, “Sustainable Cities and Communities” and “Climate Action”. We have also linked parts of our success-based compensation to Climate Action and Environmental Sustainability Goals.
Despite all this, our fund was not officially branded as an Impact Fund up until today. We have been considering for a long time to make it official and upgrade to an “Article 9” (i.e.: impact) fund under the Sustainable Finance Disclosures Regulation (SFDR). It won’t change anything in our investment strategy, really.
Now finally, we are taking the plunge: Vireo Electrification Fund will qualify as an Impact Fund under SFDR Article 9 shortly, solidifying our sustainable investment objective. The paperwork is done, and we have already completed our annual 2023 SFDR reporting adhering to the Article 9 standards.
At last, we can call ourselves (and our LPs) “Impact Investors”!
The Summer Lull
The busy event season is over, and we will use the slower summertime to prepare new investments from our pipeline, to conduct research and do deep work, and all the stuff we never get to during high season. And, truth be told, we will be able to spend more time with the families.
But the fall event season will be here quickly, and we have already booked various events we will attend. To name a few of the bigger ones:
…and of course our LP Day, a whole day of content and networking with our portfolio founders and Limited Partners, 18 November in Berlin.
Enjoy your holidays, stay vigilant, and beware of pickpockets!
We appreciate you.
All the best,
Felix, Matthias, Mischa, Sandro, Sven, and Thomas
Managing Partner at Future Energy Ventures
6moCongratulations and great to see that you are joining the SFDR Artilce 9 family!
CEO at Life Size
6moYeah, great to read the updates. Enjoy the summer and see you during the autumn event season