German RWE Innogy has founded Innogy Venture Capital Gmbh with the aim of driving forward innovative technology in the field of renewable energy sources.
Innogy Renewables Technology Fund I GmbH &Co. KG, a limited partnership founded by RWE Innogy, will be managed by Crispin Leick (Chief Investment Officer). Aiwar Markow, who heads RWE Innogy’s Finance Department, takes on the position of Managing Director for finance (Chief Financial Officer).
Since its formation in 2008, RWE Innogy has taken shares in eight young technology companies throughout Europe, investing over €50m as equity capital.
Commenting on the announcement, Crispin Leick, said: “The new venture capital fund structure ensures that our portfolio companies can receive all benefits as a Small Medium Enterprise (SME) according to EU law.
“Our experience with venture capital as an open approach to innovation has been highly positive.
“Building on this, the formation of the fund structure marks another milestone for RWE Innogy, as a driver of innovative, promising new technologies, new markets and alternative business models”, he added.