Suma Capital reinforces its commitment to clean technologies

Source: 6/17/2024, Location: Europe

With the integration of the two fund managers, the Suma Capital team broadens its range of funds by investing in startups focused on the fight against climate change.

Suma Capital, a leading sustainable and impact investment manager, is expanding its presence in the clean technology sector, commonly known as CleanTech, through the integration of 100% of ENION Venture Partners, a firm specialised in investing in start-ups with technologies aimed at combating climate change.

Through this incorporation, Suma Capital also assumes the management of the ENION I Energy fund, a vehicle that has a capital of around €30 million and has invested to date in a dozen innovative startups such as Beeplanet, Vega Chargers, Wattwin, Electric Save, Candam and Floatech, among others.

Specifically, the ENION I Energy Fund plans to invest in up to 25 early-stage technology companies, mainly in Spain, dedicated to accelerating the transformation of industry, mobility and energy, to foster the achievement of Net Zero. This strategy is aligned with Suma Capital’s ongoing commitment to promoting a cleaner and more sustainable energy future.

With the integration, Suma Capital broadens its investment strategies and now covers all stages of maturity in investing in companies and projects focused on decarbonisation.

Additionally, Josep-Miquel Torregrosa, Managing Director of ENION Venture Partners, and Xavier Sánchez, Chief Operating Officer at ENION, join Suma Capital as Partners.

Enrique Tombas, Chairman of Suma Capital, explains that: “We are delighted to welcome the ENION team and believe that this union expands our early-stage investment capabilities, a crucial phase for the development of disruptive technologies, and adds our firm’s strengths in pursuing the best investment opportunities and generating the greatest impact for the fund’s investors and investee partners.

Josep-Miquel Torregrosa, Managing Director of ENION Venture Partners, added: “We are very excited to join Suma Capital. This integration will allow us to accelerate our impact in the cleantech sector. Together, we are better positioned to identify and support the most promising startups that are working on innovative solutions to combat climate change. Combining our strengths will enable a more robust and effective approach to promoting a sustainable future.”

This strategic move, a pioneer in the Spanish private equity market, as there have been very few corporate alliances between private equity managers to date, not only strengthens Suma Capital’s offering in the cleantech market, but also underlines its commitment to driving innovations that contribute significantly to environmental sustainability.

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