Alstom and Schneider Electric have partnered to launch a new venture capital fund to finance innovative start-ups in the fields of energy and the environment. The joint venture remains open to the participation of other potential partners.
The fund, Aster Capital, is based in Paris and will receive progressively a capital subscription of €70 million. This involves €40 million from Schneider Electric and €30 million from Alstom.
Aster Capital’s mission is to take minority interests in pioneering start-ups based in Europe, North America and Asia, developing new technologies that could lead to major breakthroughs in the fields of energy and the environment.
The two founding partners share the aim to support the development of eligible companies and to look after cooperation and partnerships for their respective markets.