Venture capital fund for start-ups
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Alstom and Schneider Electric have launched a venture capital fund to finance innovative start-ups in the fields of energy and the environment.
The Paris-based fund, named Aster Capital, will receive a capital subscription of €70m (£62m), with Schneider Electric contributing €40m and Alstom €30m.
Aster Capital plans to take minority interests in innovative start-ups based in Europe, North America and Asia, developing technologies that could lead to major breakthroughs in the fields of energy and the environment.
The fund is expected to benefit from the venture capital expertise that Schneider Electric Ventures has acquired since 2000, through the management of its first €50m fund invested in more than 20 companies in North America and Europe.
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Readers' comments (1)
Gautam Vasant Kumtakar | 18 Jan 2010 2:33 pm
This is a significant step motivating engineers to find innovative solutions for effective protection of the environment.
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