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20/01/2010
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Power generation specialist, Alstom and energy management company, Schneider Electric, have announced that they are joining forces to launch a new venture capital fund.
 The fund will finance innovative start ups in the fields of energy and the environment. According to both companies, this is the first time that two major industrial groups have been associated in a joint initiative of this nature.
The fund, Aster Capital, is based in Paris and will receive a capital subscription of €70million - €40m from Schneider and €30m from Alstom. Other industrial partners are invited to join the initiative to create the European benchmark fund specialising in energy and the environment.
The two founding partners say that they aim to support the development of innovative young companies and to nurture cooperation and partnerships for their respective markets.
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Author
Chris Shaw
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