BayWa re has established its own venture capital firm. The subsidiary of the Munich-based agricultural and energy group plans to make early-stage investments of up to five million euros.
The newly founded BayWa re Energy Ventures GmbH focuses on European and Israeli early-stage startups in the energy sector. The corporate VC investor announces up to five investments annually, each valued at one to five million euros. The company also plans to invest in later financing rounds. In addition to capital, the Munich-based company offers the startups it supports access to its sales channels and experts.
BayWa already involved in startups
The investor is set up as an independent corporate entity. This is intended to provide greater independence for the startups, faster decision-making, and flexibility. The startup founder and advisor will serve as managing director. Ulrich SeitzHe announces that he will act as both lead and co-investor. BayWa Energy Board Member Matthias Taft says:
"Of course, the planned minority investments are also about financial success. At the same time, with this decision, we also want to intensify our innovation management and gain new market access through potential partnerships."
The BayWa Group has been looking to connect with the startup scene for some time: Last year, the company acquired a majority stake in the Munich-based company Vista, which uses satellite data to forecast nutrient and water requirements and harvests. Previously, the agricultural group invested in the Californian company's fruit-picking robots Abundant Robotics.
