The collaboration is aimed at accelerating the move to net zero in the Netherlands, where solar and wind energy has advanced so much, it is entering a new phase, according to ASN Impact and StartGreen.
Impact fund manager StartGreen Capital has become an investment advisor to ASN Impact Investors, and will take over the portfolio management of its ASN Energy & Innovation Fund.
Clean energy sources from solar and wind have advanced so much in the Netherlands that the energy transition is entering a critical new stage, needing local investments in the generation, distribution and storage of energy, according to ASN and StartGreenCapital.
“We are continuously looking for partners with whom we can drive sustainable transitions in the Netherlands,” said San Lie, director of The Hague-based ASN Impact Investors.
“With StartGreen Capital we have found a partner who shares our values and has the right expertise and a strong network. Together we can increase our impact and realise our sustainable ambitions,” Lie said.
The ASN Energy & Innovation Fund, which has a portfolio of several hundred million euros, is targeting innovative technological projects that will play a key role in the next stage of the circular and energy transition in the Netherlands.
These include energy storage, charging infrastructure, circular production, sustainable mobility and energy-efficient buildings. The fund previously invested predominantly in solar and wind projects under the name ASN Groenprojectenfonds.
The partnership will allow both parties to better support regional and local projects in the energy transition across the Netherlands with appropriate financing, according to Coenraad de Vries, co-founder and managing partner of StartGreen Capital.
“For the next phase, it is essential to get new innovations off the ground and help scale up existing proven solutions,” De Vries said.
Making an impact
Amsterdam-based StartGreenCapital currently manages close to €500m across four funds and three themes: the energy transition, diversity and circularity. As reported by Impact Investor, its gender lens fund, Borski Fund, reached a final close of €50m last month after it received more than €9m in investment from M&G Investments.
Since its foundation in 1993, ASN Impact Investors, a unit of state-owned lender Volksbank, has focused on backing companies that can produce both financial returns and make a positive contribution to climate change, biodiversity and human rights. It managed €4.1bn in assets at the end of last year. In 2018, it became the first asset manager worldwide to measure the biodiversity footprint of its funds.
