Key Impact Points:
- €100 million clean tech venture fund to invest in startups focused on decarbonization, energy efficiency, mobility, and circular economy
- Backed by Eni Next and Azimut, the fund will launch under ELTIF 2.0 in September 2025
- Focus on U.S. clean tech, with potential investments across Europe and globally
Eni and Azimut Launch €100 Million Clean Energy Tech Venture Fund
Italian energy giant Eni, through its venture capital arm Eni Next, is teaming up with asset manager Azimut to launch a €100 million clean tech-focused venture capital fund. The initiative aims to scale up startups and innovations that drive the global energy transition.
Accelerating Energy Innovation
Expected to launch in September 2025, the fund—structured as a European Long Term Investment Fund (ELTIF)—will target high-potential startups and scale-ups advancing technologies in decarbonization, energy efficiency, sustainable mobility, and the circular economy. It will be domiciled in Luxembourg and is currently awaiting regulatory approval.
Clara Andreoletti, CEO of Eni Next, emphasized the fund’s importance:
“By combining our specialized expertise with Azimut’s fundraising capabilities, the partnership will further accelerate and enhance the growth of the Eni Next portfolio. The energy sector, like many other industrial sectors, is undergoing a profound transformation driven by technological innovation. To support this transition and ensure its economic sustainability, private capital plays a crucial role in enabling new technological solutions to emerge and scale rapidly.”
ELTIF 2.0 Access for Institutional and Retail Investors
This marks one of the first major clean energy investment vehicles launched under the updated ELTIF 2.0 framework, opening access to both institutional and private investors. Azimut will lead on structuring and distribution, while Eni Next will advise the fund and leverage its deep network within the energy innovation ecosystem.
Giorgio Medda, CEO of Azimut Holding, said:
“As new technologies reshape the energy sector, driving a generational shift toward increasingly efficient solutions, this fund aims to give investors access to the most promising and high-potential opportunities.”
Global Scope with U.S. Focus
While the fund will prioritize investments in U.S.-based clean tech ventures, it remains open to deploying capital in Europe and other international markets where aligned opportunities emerge.
Eni Next and Azimut bring complementary strengths: Eni Next offers technical depth and sectoral insights, while Azimut operates across 20+ countries and contributes capital market expertise. Together, they aim to back breakthrough technologies that will help accelerate the clean energy transition.
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