EnBW New Ventures
EnBW New Ventures (ENV) is the corporate venture capital arm of German utility EnBW, founded in 2015 and based in Karlsruhe. It invests from a EUR 100M evergreen balance-sheet vehicle in European Series A and growth-stage startups making energy and infrastructure digital and sustainable, spanning renewables, batteries, transport electrification, power grids and enterprise software. It writes EUR 1-10M tickets as lead or co-investor and has backed 23 startups with 8 exits, plus four VC funds.
Key facts
Recent exits
Coverage notes
1 fund tracked, 24 portfolio companies (16 active · 8 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund EnBW New Ventures has raised, with its portfolio companies. Hand-checked from public filings.
EnBW New Ventures Evergreen VehicleEvergreen2015 · 11yr€100M16 active · 8 realized
Unrealized
16 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| 3YOURMIND | Software | Germany | 2020 |
| babelforce | Software | Germany | 2022 |
| Cozero | SaaS | Germany | 2024 |
| CYCLE | Mobility | Germany | 2023 |
| Easelink | Mobility | Austria | 2022 |
| Elephant | Software | Germany | 2026 |
| enspired | Energy | Austria | 2021 |
| FLEXECHARGE | Energy | Denmark | 2025 |
| Holo-Light | Deep Tech | Austria | 2019 |
| Intigriti | Cybersecurity | Belgium | 2022 |
| Spoor | ClimateTech | Norway | 2025 |
| Sunhat | SaaS | Germany | 2024 |
| Validaitor | Software | Germany | 2025 |
| vialytics | SaaS | Germany | 2023 |
| VivaCity | Mobility | United Kingdom | 2023 |
| volytica diagnostics | Energy | Germany | 2023 |
Realized
8 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Cleverciti | Mobility | Germany | 2018 | 2025 | Trade Sale | – | |
| deepomatic | Software | France | 2022 | 2025 | Trade Sale | – | |
| DZ4 | Energy | Germany | 2019 | 2022 | Trade Sale | – | |
| Greenbird | Software | Norway | 2020 | 2023 | Trade Sale | – | |
| gridscale | Software | Germany | 2019 | 2023 | Trade Sale | – | |
| Lumenaza | Energy | Germany | 2016 | 2021 | Trade Sale | – | |
| replex | Software | Germany | 2017 | 2021 | Trade Sale | – | |
| Theva | Deep Tech | Germany | 2017 | 2026 | Trade Sale | – |
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Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
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