AENU
AENU is a Berlin-based impact venture capital firm founded in 2022 by brothers Fabian and Ferry Heilemann, evolving from their Pirate Impact family office. It is a B Corp-certified, multi-stage investor backing climate-tech and social-impact founders across Europe and the US, with initial tickets of EUR 1-5M and follow-on capacity up to EUR 10M. Its focus spans the energy transition, industrial decarbonization, the carbon economy and systemic resilience. Originally launched as an evergreen vehicle targeting EUR 500M, AENU closed its fund at EUR 170M in September 2024 and shifted to a conventional closed-end structure amid a tougher LP market. Backers include the European Investment Fund, KfW, Bertelsmann Investments and entrepreneurs such as Niklas Zennstroem and Lawrence Leuschner.
AENU is a Berlin venture capital firm with €170M AUM, 28 active companies and 1 exit.
Sector breakdown
29 companiesGeography breakdown
9 geographiesKey facts
Recent exits
AENU sold Minimum to Novisto in 2026.
Coverage notes
1 fund tracked, 29 portfolio companies (28 active · 1 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund AENU has raised, with its portfolio companies. Hand-checked from public filings.
AENU FundImpact2022€170M28 assets1 exitsImpact2022 · 4yr€170M281
Unrealized
28 held| Company | Entry |
|---|---|
| Agreena Fintech · Denmark | 2023 |
| Airly ClimateTech · Poland | 2022 |
| alcemy Industrials · Germany | 2022 |
| Apiday Software · France | 2024 |
| Aris Machina Deep Tech · Sweden | 2025 |
| Beagle Systems ClimateTech · Germany | 2025 |
| Carbon Equity Fintech · Netherlands | 2022 |
| CleanHub ClimateTech · Germany | – |
| Ember Mobility · UK | 2024 |
| Entrix ClimateTech · Germany | 2026 |
| EPYR ClimateTech · France | 2025 |
| Equitable Earth ClimateTech · France | 2024 |
| feld.energy ClimateTech · Germany | 2025 |
| Galvany ClimateTech · Germany | 2026 |
| Greenlyte ClimateTech · Germany | – |
| Heirloom Carbon ClimateTech · US | – |
| Hometree ClimateTech · UK | 2023 |
| LGND AI/ML · US | 2025 |
| Metris Energy ClimateTech · UK | 2024 |
| Monta Mobility · Denmark | 2024 |
| Ocell ClimateTech · Germany | 2023 |
| Pivotal Software · UK | 2023 |
| Plume Software · France | 2026 |
| ScyAI AI/ML · Switzerland | 2026 |
| Trawa ClimateTech · Germany | 2024 |
| UNDO ClimateTech · UK | 2023 |
| Voltfang ClimateTech · Germany | 2022 |
| ZeroAvia Aerospace & Defence · UK | 2022 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Minimum ClimateTech · UK | – | 2026 | Trade Sale | Novisto | – |
Frequently asked questions
- What investment strategy does AENU focus on?
- AENU focuses on VC, Growth strategies in the private equity space.
- How many portfolio companies does AENU have?
- AENU has 28 active portfolio companies and 1 completed exit and 1 fund tracked on GP Intel.
- Where is AENU headquartered?
- AENU is headquartered in Berlin, Germany.
- What is AENU's assets under management?
- AENU manages approximately €170M in assets under management.
- When was AENU founded?
- AENU was founded in 2022.
- What sectors does AENU invest in?
- AENU invests across Energy, Industrials, TMT, Software.
- What are AENU's recent exits?
- Recent realized exits by AENU include: Minimum (2026) to Novisto.
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