TDK Ventures expands to London with $150m cleantech fund

TDK Ventures expands to London with $150m cleantech fund

Business news |
By Nick Flaherty

TDK is setting up its first European office in London to manage a $150m fund for cleantech investments in European startups.

This is the first European office for TDK Ventures, the company’s corporate venture capital arm, with plans to invest in startups in the region. The $150m multi-LP Fund EX1 will focus on both European and North American-based energy-transformation startups in Seed and Series A stages.

After thorough research, TDK Ventures chose London due to its deep venture-capital density as well as startups and investment funds that focus on the environment. The company also was impressed with the city’s overall venture innovation ecosystem that comprises entrepreneurially minded scientific talent, a world-class university system, top-tier climate investors in both early and growth stages, centralized location, and access to strong public markets. 

The company says recent breakthroughs in materials science and advanced manufacturing in the European Union have created a watershed era for electrification and decarbonization projects.

“Globally, London ranks third in climate-tech funding, and third in the number of climate and energy-tech investors,” said Nicolas Sauvage, President of TDK Ventures. “The latter ranking rises to No. 2 in the world when all of the UK is included. It also has corporate-friendly governance as well as familiar taxation, board structures, and a legal environment for venture-backed startups to find appropriate exits. This, coupled with the presence of many large-scale, late-stage, and growth-equity funds led us to decide on London as our first outpost in Europe.”

“I am delighted that TDK Ventures has chosen London as the site of its first European office,” said Natalie Black, His Majesty’s Trade Commissioner for Asia Pacific. “Including UK companies as potential recipients in its new $150-million Fund EX1 is a testament to the strength of the UK’s tech sector, which raised $31.1 billion in VC funding last year, making the UK the third largest market in the world for tech investment. I look forward to seeing TDK Ventures thrive in the UK in supporting our efforts to tackle climate change.”


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