BayWa r.e. enters venture capital market
BayWa r.e., which began life itself as an innovative new renewable energy business, will initially invest up to five million euros in startups and assist with branch expertise, infrastructure and distribution. BayWa r.e. Energy Ventures will act as a standalone business and can guarantee startups maximum independence, quick decisions and flexibility. Focusing on startups in Europe and Israel, the team will be led by Ulrich Seitz, a venture capital manager with over ten years of experience on the startup scene.
Matthias Taft, Board Member of BayWa AG with responsibility for the energy business, commented: “Whether it is storage, digitalisation or e-mobility, the renewable sector is tremendously innovative. Starting as a young entrepreneurial business, we appreciate the challenges startups face and the crucial role a supporting investor plays. With the creation of BayWa r.e Energy Ventures, and by bringing Ulrich Seitz onboard, we hope to further drive our own business development while also supporting the startup market, which is so vital to the future of the energy sector.”
While independent, BayWa r.e. Energy Ventures has the stability and financial backing of BayWa AG. Combined with its deeply-rooted understanding of the market this puts the business in the ideal position to find the right approach for potential partners.
“We combine strong financial backing and an in-depth knowledge of the energy sector, with venture capital expertise and an entrepreneurial spirit”; adds Ulrich Seitz, Managing Director of BayWa r.e. Energy Ventures GmbH.
“This is a recipe for great chemistry, and puts us in the best position to work collaboratively and support startups. As lead or co-investor, we are engaged for the long run and are planning to invest in up to five opportunities per year, with a focus on startups in Europe and Israel.”
More information at: BayWa r.e. Energy Ventures
Notes to editor:
BayWa r.e. Energy Ventures is a sponsor of the “Start Up Energy Transition in Berlin” on April 16. 2018. Interviews with Mr. Taft and Mr. Seitz are welcome and can be scheduled at this time or at a later date. Please email: baywa-re(at)lhlk.de if you are interested.