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Engie New Ventures

ParisENGIE-NEW-VENTURES
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Dossier Summary

Engie's corporate venture fund investing in cleantech, energy efficiency, and distributed energy.

Classification
Slugengie-new-ventures
HQParis
Stage FocusSeries A (17 deals, $95.7M average) and Seed (5 deals, $1…
Intel StatusAccepting submissions
🔥 BERNIE'S HOT TAKE

ENGIE New Ventures is the real deal among corporate VCs — they've got the track record (Redaptive unicorn, Gogoro IPO) and the strategic muscle to actually help portfolio companies scale. They're proactively selling stakes in mature portfolio companies to fuel new investments rather than waiting around for exits, which shows they get the portfolio rotation game. Johann Boukhors is a 20+ year ENGIE veteran who understands both the energy industry and VC mechanics. They typically take board seats and actively look for collaboration opportunities between startups and ENGIE business units. The downside? You're dealing with a massive corporate bureaucracy, and their primary goal is strategic, not financial returns. If your tech doesn't align with ENGIE's core business, you might get deprioritized quickly.

KEY TAKEAWAYS
  • —Best for: Energy transition startups that can plug into ENGIE's massive global operations
  • —Watch out for: Corporate bureaucracy and strategic priorities trumping pure financial returns
  • —Known for: Actually executing on strategic partnerships and having real industry expertise
Investment Thesis

ENGIE New Ventures makes investment in cleantech startups offering innovation and solutions driving the energy transition, with the mission to digitize, decarbonize and decentralize the world of energy. The firm seeks to make minority investments in technology startups that complement existing activities and resources to spur internal innovation within ENGIE.

Stage & Sector Focus

Series A (17 deals, $95.7M average) and Seed (5 deals, $13.9M average) are their primary stages. Portfolio spans Environment Tech, Sustainability Tech, Energy Tech, Enterprise Applications. Invests €1-5M initial tickets for 5-15% stakes, mainly seed and Series A rounds.

Notable Portfolio
RedaptiveGogoroGravitHyH2SITEINERATECConnected EnergyUnaBizUpstream Tech
Key Partners
Johann Boukhors
Managing Director

ENGIE lifer who joined in 1998, held various roles including business development oversight and country management in Mexico and Belgium before taking over as MD in 2018. Engineering degree from Arts et Métiers ParisTech and executive MBA from ESCP. Leads a team of 10 across France, US, Singapore, Israel and Chile managing €180m+ fund.

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