European Investment Fund commits €20m to Aster II

The European Investment Fund (EIF) has committed €20m (£16m) to Aster II, a venture capital fund managed by Aster Capita, a Paris-based fund manager focused on early-stage clean-tech investments.

It specifically targets innovative enterprises developing groundbreaking technologies in the fields of energy, new materials and the environment.

Aster II’s set-up involves three major industrial corporates acting as sponsors: Schneider Electric, Alstom and Solvay. EIF’s additional commitment brings Aster II’s investment capacity to more than €105m to support innovation in the European clean-tech sector.