Future Energy Ventures (FEV) has closed its latest fund at €235 million, reinforcing its position as a leading European advisor in energy technology venture capital. The vehicle combines a €205 million core fund with a dedicated Italian side fund, backed by major institutional and strategic investors. With this step, FEV sharpens its focus on digital and asset light solutions that accelerate the global energy transition and strengthen energy independence.
Nearly a decade of energy focused investing
FEV traces its roots to 2016, when CEO Jan Lozek moved from energy infrastructure into venture capital and launched the first fund with RWE. From the outset, the thesis centered on a future energy system built on large scale renewables, supported by software that connects, manages, and orchestrates increasingly complex grids. Since then, the firm has completed around 50 investments, gradually evolving into a specialist platform for digital technologies that reshape how energy is produced, traded, and consumed.
Backing AI driven energy infrastructure
The new fund targets late Seed, Series A, and Series B stages, typically when startups are generating €1 million to €2 million in revenue and are ready to scale. FEV prioritizes AI enabled, software based solutions that improve grid efficiency, unlock demand flexibility, and integrate emerging technologies such as storage, smart buildings, and e mobility into existing systems. Its portfolio spans companies like Chloris, Enspired, Feld Energy, EV.energy, Jua, Piclo, Reev, and Station A, which are pushing forward flexibility management, building and industrial electrification, and data driven energy optimization.
Turning buildings, batteries, and mobility into energy assets
Lozek and his team view electrification across buildings, industry, and transport as a structural change in how energy systems operate. Batteries, vehicles, and building systems are no longer passive loads but active resources that can be connected to the grid and optimized in real time. FEV backs technologies that make these energy flows more efficient, from advanced building energy management for heating, cooling, and storage, to platforms that coordinate mobility and storage assets at scale.
Cracking the Series A and B bottleneck
A core part of FEV’s strategy is helping companies break through the Series A and B bottleneck, where many energy startups fail to convert pilots into repeatable growth. Lozek argues that success at this stage requires identifying true inflection points, focusing on problems that are painful today yet exposed to long term structural demand. He cites Enspired, which uses AI to manage and trade battery assets, and Reev, a semi public EV charging platform, as examples of businesses that address immediate market needs while sitting on powerful global trends.
Navigating geopolitics, market realities, and exits
FEV’s thesis is heavily shaped by geopolitics, as governments seek to reduce dependence on imported fossil fuels and secure domestic energy supplies. Lozek notes that in Europe, and particularly in Germany, investments that strengthen independence from external energy sources now make more sense than ever, as policymakers and utilities prioritize resilience and sovereignty. At the same time, he acknowledges challenges such as long procurement cycles in conservative energy industries and the relatively weaker exit environment in Europe compared to the United States, even as pension fund reforms begin to unlock new pools of capital for venture.
Italy’s rising role and a dedicated side fund
The Italian side fund, fully financed by CDP, invests alongside the main vehicle while focusing on opportunities within Italy. FEV’s decision to create a dedicated structure reflects deep team roots in the country, including partner Jan Lesinski’s long standing ties, and recognition of a steadily maturing innovation ecosystem. Since 2016, government initiatives and development banks have helped attract talent back to Italy and foster a more dynamic startup environment, making a country specific energy innovation strategy increasingly attractive.
Energy as a top tier asset class
Managing Partner and CFO Veronique Hördemann argues that energy has become one of the most compelling investment themes of this generation, where security, economic growth, employment, and low cost renewables converge. She believes Europe has the innovation capacity, talent, and industrial base to lead the global energy transition, provided that political and regulatory frameworks enable scaling. The firm also highlights its own diverse and international team, spanning multiple countries and backgrounds, as a competitive advantage in sourcing and supporting startups across Europe, North America, and APAC.
With the closing of its new fund, FEV cements its role as a key player in financing the technologies that will define tomorrow’s energy systems. The firm is now focused on expanding its footprint across Europe, deepening its presence in regions such as Eastern and Southern Europe, and backing software driven solutions that turn energy transition from policy aspiration into operational reality. For founders building digital tools that can materially advance electrification, grid flexibility, and energy sovereignty, FEV’s message is straightforward, reach out, and if there is a fit, the firm aims to move quickly to support the next wave of energy innovation.