SE Ventures, a venture-investing firm backed by French energy and automation giant Schneider Electric SE, has announced that it is set to launch a new roughly USD 520 million, investment fund.
The new fund will target startups building digital tools in areas like climate technology, predictive maintenance and the internet-of-things. The five-year-old investment company claimed that when its 2018 first fund was added; it would have more than USD 1 billion in committed capital. In January, the first payments will be made from the new fund.
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With its second fund, the Menlo Park, California-based company hopes to intensify its focus on fostering innovative tech startups, some of which could eventually aid Schneider Electric as a business partner or an acquisition.
Read More: Schneider Electric-Backed Venture Firm to Launch $520 Million Fund
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