Milan-listed utility group Edison spa announced yesterday the signment of a partnership with Idinvest Partners, a paneuropean private equity and venture capital firm with specific experience in the energy and digital tech sectors (see here the press release).
The agreement includes the committement by Edison to a new venture capital fund managed by Idinvest and focused on the Smart City sector or Smart Energy, Smart Building & Industry, New Mobility and Abilitating technologies in Europe, North America, Israel and Asia. Moreover the partnership offers Edison the opportunity to co-invest in Idinvest’s portofolio startups which are more interesting for the Italian utility group. Idinvest committs at the same time to invest in innovative Italian startups meeting its investment focus.
In the Smart City sector Idinvest is now in fundraising for its Electranova Capital II Fund, following Electranova Capital I, launched in 2012 with support from EDF, Allianz and BPI. The same Idinvest’s team is now managing the Ecomobility Ventures Fund, a multi-corporate venture fund focused on investments in clean mobility technologies and sponsored by SNCF, Total, Orange, Air Liquide and Michelin.