Czech Inven Capital commits €50M for co-investments with the European Investment Bank
13 February, 2023, 15:04
The Prague-based Inven Capital, an independent venture firm, has committed to the second phase of collaboration with the European Investment Bank. The iteration will invest €50 million in clean tech and decarbonization startups, following the initial phase from 2017 to 2022.
- Founded in 2014 Inven Capital is a venture capital fund investing in climate tech and energy startups across Europe and Israel. It primarily targets later-stage growth investment opportunities with a sound business model based on realized revenues and long-term growth potential. The fund is a member of Invest Europe (European Private Equity and Venture Capital Association) and CVCA (Czech Private Equity and Venture Capital Association).
- Inven’s total funding is sized at more than €500 million, and the venture firm screened around 3,200 deal leads from 2015 to 2022. In that time, Inven exited five companies and reported a 36% average investment return. AIN.Capital recognized it as one of the most active Czech VC firms in 2022.
- The European Investment Bank finances projects in four priority areas — infrastructure, innovation, climate, environment, and small and medium-sized enterprises. Since the beginning of its lending operations in Slovakia in 1992, the EIB has invested €9.7 billion.
- The initial phase of EIB’s collaboration with Inven Capital started six years ago. The co-investment aims to leverage Inven’s market access and expertise to deploy EIB funding in smaller innovative companies and support tech solutions that can help reduce CO2 emissions.
“We view this continued partnership with the EIB as a major commitment in continuing to support outstanding startups with positive carbon reduction impact. In line with ČEZ Group’s Vision 2030, we at Inven Capital consider sustainability as one of our core values, implementing ESG (environmental, social and governance) screening into our investment process and actively supporting our portfolio companies in applying sustainable best practices. ”Managing Director and Chairman of the Board of Inven Capital Petr Mikovec commented.
- The project will ease financial constraints for small businesses and mid-caps and contribute to the EIB’s research, innovation, digital, climate action, and environmental sustainability policy objectives.