Suma Capital’s €210 million ClimateTech fund turns up the heat on industrial decarbonisation and tackles the “scale-up gap”

Barcelona-based investment firm Suma Capital has closed its ClimateTech-focused fund, SC Net Zero Ventures I, securing €210 million to back scale-ups advancing industrial decarbonisation across Europe.

This final amount exceeds the fund’s original €150 million target by 40% and aims to bridge the notorious ‘scale-up gap’ for climate technologies – particularly those tackling high-emission sectors.

Alongside Repsol, the European Investment Fund (EIF) has committed capital, as have several Spanish public institutions including ICO, CDTI, ICF, IVF and Seed Bizkaia.

“With this final close, we reinforce our role as a reference partner for companies leading industrial decarbonisation in Europe. Through SC Venture, we support climate scale-ups with validated technology and commercial traction, driving their expansion and their long-term environmental and competitive impact,” said Natalia Ruiz, Partner at Suma Capital.

Founded in 2007, Suma Capital has built a track record of investing in sustainability and infrastructure. With a team spread across Barcelona, Madrid, Paris, and Milan, the firm is steadily positioning itself as a pan-European reference in sustainable investment.

Through SC Net Zero Ventures I, the firm is doubling down on its capital-with-purpose model – pursuing both financial returns and tangible, traceable climate impact.

The fund’s alignment with the EU’s 2050 climate neutrality targets further underlines its relevance, as governments and corporates across Europe race to decarbonise the continent’s industrial base.

“At Repsol we believe alliances are essential to accelerate the energy transition. Our participation as anchor investor in SC Net Zero Ventures I reinforces the ambition to promote technologies with real industrial application, capable of generating measurable environmental impact and delivering long-term competitiveness. Collaboration with Suma Capital is an example of how capital and industry can move forward together towards the 2035 goals,” added Gema García, Director of Repsol Corporate Venturing.

Managed under the firm’s SC Venture strategy, SC Net Zero Ventures I will focus on startups with validated technology and commercial traction operating in key industrial and B2B verticals. These include low-carbon mobility, electrification of industrial processes, renewable energy storage, carbon utilisation, and hydrogen innovation.

Notably, the fund has already begun deploying capital into a quartet of European ClimateTech ventures:

• HESSTEC (energy storage)
• Corinex (energy grid digitalisation)
• H2SITE (green hydrogen)
• V2C (smart EV charging).

With capital now in hand, SC Net Zero Ventures I looks to become a vital lever in accelerating Europe’s transition to a greener, more competitive economy – one scale-up at a time.

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