Amsterdam-based SevenGen Investment Partners was founded in 2022 by a small group of ABN Amro bankers specialized in climate finance deals. It focuses on investments in profitable companies with proven technologies that can accelerate Europe’s climate goals.
SevenGen this week announced a €50 million ($58 million) first close with the European Investment Fund and Invest International, a government-backed Dutch investment institution, acting as anchor investors. The fund is also backed by impact investors including Victrix, Alphatron and Phase2.earth, as well as entrepreneurs and leaders from the climate tech industry. It is looking to raise €150 million ($174 million) by next year.
First time fund.
First SevenGen provides growth capital to scale-ups active in the energy transition, decarbonizing industries, circular materials and sustainable mobility, which are all key to Europe’s ambitious climate plans.
“The fundraising market is very tough for first-time funds at the moment, and this first close confirms our investment proposition is an attractive one for institutional investors,” Frederik Deutman, co-founder and managing partner at SevenGen, told ImpactAlpha. The fund plans to invest between €5 million and €15 million in each portfolio company, according to Deutman, a former head of the €500 million ABN Amro Sustainable Impact Fund.
“We back companies that drive costs down and make climate solutions accessible to everyone, not just early adopters. That’s how you move from niche to mainstream,” said SevenGen co-founder Pieter Smit.
