PFR Ventures invests in TiLT Capital
PFR Ventures, Poland’s fund of funds that invests in venture capital and private equity teams, announced the investment of EUR 5 million in TiLT Capital Fund 1, under the PFR GreenHub FoF programme. The energy transition fund managed by TiLT Capital (Siparex Group), aims to invest in innovative European companies that could accelerate the region’s energy transition. The fund has a particular interest for the Polish market and its rising clean tech ecosystem.
PFR GreenHub is one of the strategic programs of the Polish Development Fund, with the goal of supporting the energy transformation in Poland. Among other strategic activities, it supports venture capital and private equity teams that specifically aim to finance innovative ClimateTech projects. It is managed by PFR Ventures, which joins VC and PE funds as an LP. At the end of the year 2022, PFR Ventures has invested in Contrarian Ventures, Eurazeo, General Atlantic’s BeyondNetZero fund, and Montis Capital. The recent agreement with TiLT Capital Partners marks a total of EUR 60 million of investments under PFR GreenHub FoF.
TiLT Capital Fund 1 (TCF 1) is an energy transition fund managed by TiLT Capital, based in Paris and part of Siparex Group, a transformative company shareholder with EUR 3.5 billion of assets under management. With a capitalization in excess of its EUR 250 million target size, TCF 1 aims to invest EUR 5-35 million in the growing SMEs of the European energy transition sector. The fund is primarily focused on energy efficiency, zero-carbon heating & energy, power electronics, and energy system flexibility.
PFR Ventures invested EUR 5 million in TiLT Capital Fund 1, alongside Bpifrance, European Investment Bank, and European Investment Fund. TiLT Capital Partners has already done its first 4 investments in France in Germany and will seek to invest in Polish companies of the energy transition space.
TiLT Capital is particularly happy and honored to welcome PFR as a subscriber in its first fund dedicated to growth equity in the European energy transition sector. This investment has a specific importance as Poland is a reference for Energy Transition, combining both challenges and ambitions in terms of decarbonization, energy security and affordability of energy for its industry and citizens. Backed by a strong ecosystem and excellent engineering and scientific capabilities, Poland offers in our view exciting investment opportunities and we are happy to be able to support the development of the Polish SMEs active in the energy transition.
says Nathanaël Krivine, investment director at PFR Ventures.
TiLT Capital joins our diverse portfolio of green investment funds. They combine many years of experience in energy transition of its founders, and Siparex's expertise in private equity for SMEs. This creates a unique opportunity for innovative companies that develop technology to tackle emissions reduction. We are glad that they are not only interested in the Polish market but are already investigating it. TiLT Capital could help close the funding gap that is even more painful for the energy transition startups, and help accelerate green innovation in Poland
says Małgorzata Walczak, investment director at PFR Ventures.