Klima Energy Transition Fund reaches hard cap at €210 million

Date 21 September 2022

Type Alternative Asset Management

  • Alantra and Enagás have achieved a final €210 million close for their Energy Transition Fund, Klima, above the initial target size of €150 million and with oversubscription
  • The European Investment Fund, which is a part of the European Investment Bank Group, committed €30 million. Other commitments to the Fund comprise North American and European institutional investors, corporate investors from the energy field, public institutions, and family offices
  • The Fund, which is a partnership between Alantra and Enagás and is an Article 9 compliant strategy with a clear sustainable objective, has already completed three investments

Madrid, 21 September 2022 – Alantra and Enagás, through its affiliate Enagás Emprende, announced today that it has reached the final close of their Energy Transition Fund, Klima Energy Transition Fund (“Klima”), with €210 million in commitments, above its initial target of €150 million and with oversubscription. The European Investment Fund, which is a part of the European Investment Bank Group, committed €30 million. Other commitments to the Fund include institutional investors, energy-related companies, public and European institutions, and family offices. Alantra and its shareholders, Enagás, and the investment team have made a significant joint commitment of approximately €50 million to the Fund, reflecting the strong alignment of interests with its investors.

Klima takes minority stakes in companies with high growth potential in energy transition sectors such as low carbon solutions, smart power grids, energy storage, renewables and enabling technologies, digitalization of the whole energy equation, energy efficiency in hard-to-abate sectors, and sustainable transportation.

Bastien Gambini (Managing Partner), Iñigo Echániz (Investment Director), Lucille Bonnet (Managing Partner), María Sansigre (Investment Director), Manuel Alamillo (Investment Director), and María Muro-Lara (Analyst).

“We have seen strong demand for Klima. Investors are looking for experienced partners who can guide their contribution to transform our energy model by accessing new and clean energy sources,” said Jacobo Llanza, CEO of Alantra Asset Management. “We are delighted to have built, together with Enagás, an investment vehicle that is not only a capital provider but also an operating partner to fast-growing companies aiming to decarbonize the economy.”

According to Arturo Gonzalo, CEO of Enagás, “Klima fund is anticipating the decarbonization challenges arising from the new global energy paradigm and is aligned also with the European strategy REPowerEU to reach a self-dependent and decarbonized market. Throughout this Fund, Enagás is playing a role to help these objectives come true.”

“Representing approximately three quarters of greenhouse gas emissions, the energy space needs smart money to scale up impactful innovation.” says Alain Godard, Chief Executive of the European Investment Fund. “We are proud to be backing Klima, an experienced and skilled team located in Spain and Germany, who will target promising companies in this field across Europe.”

“Over the last two years, we have analyzed more than 300 companies in Klima’s investment strategy sweet spot. The market opportunity is huge and growing fast given the urgent need for solutions to help decarbonize the economy,” said Bastien Gambini, Managing Partner at Klima.

The investment team comprises six professionals based in France, Germany, and Spain, combining 40 years of investment track record in the energy sector across Europe and North America.

The Fund has already completed three investments with diversification in terms of countries and sectors: US power generator Mainspring, Swiss weather forecast predictor Meteomatics, and Swedish decentralized integrated solar company SunRoof.