zouk closes latest fund on €230m

The fund beat its initial target of €200m and brings zouk's total funds under management to €370m.

Investments
Cleantech Europe II will invest in expansion-stage cleantech businesses. It will seek to invest in renewable energy, energy efficiency and water and waste technologies. zouk believes these markets show strong growth driven by increasing demand for resources and concerns over climate change. Cleantech also benefits from political support in many countries.

Geographically, the fund will target the UK, DACH, the Nordics, France and Benelux.

It has already made its first investment, providing backing for UK-based Anesco with partner Scottish & Southern Energy. It hopes the firm will become a leading supplier of energy efficiency services in the UK.

Investors
The fund has attracted a number of global investors, including sovereign wealth funds, funds-of-funds, corporations, pension funds and family offices.

People
The vehicle will be managed by zouk's technology team, which has 10 investment professionals with expertise in both private equity and technology. The team counts five native German speakers among its numbers, which zouk says will allow it to benefit from the DACH region's leadership in the cleantech field.

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• Topics
• Venture
• Technology
• UK / Ireland
• DACH
• Nordics
• France
• Benelux
• Cleantech