Alstom and Schneider launch joint capital fund
Fund will finance innovative start ups in energy field
Alstom and Schneider Electronic have launched a venture capital fund to finance innovative start-ups in the fields of energy and the environment.
The fund is based in Paris and will receive progressive a capital subscription of 70million Euros from the two companies.
This marks the first time worldwide that two major industrial groups have been associated in a joint initiative of this nature, and it is now open to the participation of other potential partners.
Aster Capital will benefit from the venture capital expertise that the Schneider Electric Ventures team has acquired since 2000 through the management of its first €50 million fund invested in more than 20 companies in North America and Europe.