Insider Brief
- Junction Growth Investors closed its first fund at €115 million, exceeding its target, to support European energy transition companies.
- The fund attracted backing from institutional investors, family offices, and technology entrepreneurs, including the European Investment Fund and Keeling Capital.
- Junction has already invested in seven companies working on grid-enhancing technologies, industrial decarbonization and energy-efficient infrastructure.
- Image: Junction Growth Investors
Antwerp-based Junction Growth Investors closed its first fund at €115 million, exceeding its €100 million target, the firm announced. The fund will back European companies advancing the energy transition, with a focus on electrification and grid enhancement technologies.
According to EU-Startups, Junction attracted capital from family offices, institutional investors, and technology entrepreneurs, including some of the owners of AB InBev and Umicore. The European Investment Fund (EIF), BNP Paribas Fortis Private Equity, and Belgian Growth Fund are among the key backers. Keeling Capital, a global fund of funds specializing in climate technology, also participated.
The team writes in a LinkedIn post: “Our Article 9 fund will remain dedicated to providing growth and buyout capital toward European scale-ups which are at the forefront of climate change mitigation AND adaptation, in verticals such as grid enhancing technologies, next-generation B2B installers, sustainable buildings, (home) energy management, decarbonization of industry, suppliers to IPPs and more.”
An Article 9 fund refers to an investment fund under the EU Sustainable Finance Disclosure Regulation (SFDR) that specifically aims to achieve sustainable investment objectives, such as reducing carbon emissions or advancing the energy transition.
Junction’s investment strategy targets non-listed European small and medium enterprises (SMEs) and scale-ups that support the shift away from fossil fuels.
Dirk Dewals, managing partner at Junction, told EU-Startups: “Climate change continues to advance, leaving tangible impacts on societies and personal wealth. However, the energy transition is not solely about combating climate change. It also presents a pivotal opportunity for Europe to reduce its dependence on geopolitically sensitive carbon fuels and to build a couple of European technology leaders with global reach such as Ampacimon, which has 50% of its order book in the USA. We firmly believe that electrification, particularly in the B2B sector, will play a crucial role in driving this shift, and we are actively seeking enablers to accelerate this revolution.”
Founded in 2022 by Bruno Vanderschueren, Pieter-Jan Mermans, Dirk Dewals, and Vincent Gregoir, Junction invests in companies working on sustainable infrastructure and electrification. It deploys minority and majority growth capital, investing up to €15 million per deal, EU-Startups reports. The firm has backed seven companies across sectors such as grid-enhancing technologies, industrial decarbonization, and energy-efficient buildings.
The fund’s portfolio includes Belgium’s Ampacimon and Portugal’s Eneida, which develop grid-enhancing solutions to enable renewable energy integration. Other investments include Swiss firm Eturnity, which provides software for renewable energy installers, and Austrian startup EET, which offers smart plug-in battery solutions for renters. Junction also holds stakes in Belgium-based Haulogy, which develops software for energy utilities, and Hysopt, which optimizes heating and cooling systems in large buildings.
Junction recently acquired Solora, a solar panel and battery storage installer, in partnership with BNP Paribas Fortis Private Equity. The deal makes Junction the majority shareholder in the company, expanding its footprint in commercial and industrial solar projects across Belgium, the Netherlands, and France.
“Junction Growth Investors’ distinctive approach to venture investing and deep domain expertise in building and scaling energy businesses make them an ideal partner as we work to accelerate the growth of innovative climate tech companies,” Ross Madden, Partner at Keeling Capital, told EU-Startups. “Their hands-on approach, industry knowledge, and extensive network will enable portfolio companies to build some of the most scalable and commercially successful, asset-light climate solutions in Europe.”
Stephan Heberer, CEO of Ampacimon, described Junction’s involvement as transformative, highlighting the firm’s role in recruiting Neil Chatterjee, former chairman of the U.S. Federal Energy Regulatory Commission (FERC), to Ampacimon’s board.
“Junction’s deep industry expertise and extensive network have been instrumental in our latest growth acceleration and global scaling of our solutions,” Heberer said, as reported by EU-Startups. “Thanks to their partnership, we successfully attracted Neil Chatterjee, former Chairman of the US Federal Energy Regulatory Commission (FERC), as a board member for Ampacimon. Their involvement has been a game-changer for our company, and we look forward to continued success together.”
Junction’s fund comes amid increasing European investment in climate technology, as governments and businesses seek to modernize energy infrastructure and meet emissions targets. The firm aims to accelerate the commercialization of sustainable technologies that reduce carbon dependency while positioning Europe as a global leader in electrification.
