- Aster becomes a 100% fully independent company owned by its management team
- Schneider Electric to focus on new Schneider Electric Ventures initiative
Schneider Electric, the leader in digital transformation of energy management and automation, and Aster, a venture capital firm supporting entrepreneurs transforming markets through bold offers and technologies, have agreed to change their partnership in order to accommodate the recent launch of Schneider Electric Ventures by Schneider Electric, while strengthening Aster’s independence and extending its development capabilities.
Schneider Electric recently created Schneider Electric Ventures to identify, nurture and support innovations in its markets that will transform the way we live and work, how we produce and consume energy, and how we run buildings and factories. Schneider Electric has committed to invest between 300 and 500 million euros in the coming years through Schneider Electric Ventures, in incubation projects, creation of new ventures, investments in start-ups, partnerships with entrepreneurs, and partner venture capital funds.
Accordingly, Aster strengthens its independence and will be 100% owned by its management team. This will enable Aster to pursue, with greater agility, its ambition to provide its investors with the opportunity to access an enlarged ecosystem of companies, customers and partners. As an independent venture capital company with its own investment strategy, Aster will leverage its recognized expertise to continue its commitment to support energized teams of entrepreneurs impacting a wide spectrum of sectors, including energy, industry, and mobility that have been Aster’s focus over the past 18 years.
Aster will continue to advise and support Schneider Electric regarding Schneider Electric’s investments in certain funds managed by Aster. “After 18 years of collaboration, we are moving to a next level and I am very grateful to Schneider Electric, Aster’s historic sponsor, which I warmly thank for its past support and contribution,” explains Jean-Marc Bally, Managing Partner of Aster, “Aster and Schneider Electric will continue to collaborate together in the future with a new set of opportunities”.
“Our industry is changing quickly, and we see many opportunities for investing in innovation. This is why we have decided to build a dedicated team to focus on these opportunities going forward. The Schneider Electric Ventures team has increased resources and an enlarged scope to include Incubation, Growth investments, and Partnerships”, said Heriberto Diarte, Head of Open Innovation and Ventures at Schneider Electric. “We thank Aster for all the years investing and we will continue supporting Aster’s portfolio companies”.
Email This Post