Future Energy Ventures (FEV) has officially closed a €235 million fund, marking the largest energy tech venture capital initiative in Europe to date. For entrepreneurs like myself, this milestone represents a pivotal moment for startups in the digital energy sector, especially for female founders striving to make a mark in a historically male-dominated industry. Here's an in-depth look at what this fund means, the key opportunities it creates, and lessons we, as founders, can draw from it.
Why this fund matters for entrepreneurs
As someone who bootstrapped my startups, including the Fe/male Switch game that incorporates my "gamepreneurship" methodology, I've seen firsthand how difficult it can be to secure investment for innovative ventures, especially in deep tech and energy-focused arenas. The €235 million fund by FEV is divided into two components: a €205 million main fund and a €30 million side fund dedicated to fostering innovation in Italy. This dual focus makes it clear that the European energy market is hungry for growth across borders and industries.
The fund is particularly targeted at digital and asset-light technologies. The emphasis on AI-driven solutions, grid optimization, and renewable energy aligns perfectly with Europe's broader goals of sustainability and reduced reliance on fossil fuels. For founders, the message is clear: energy startups with scalable software-based solutions are prime candidates for VC support. This gives us an enormous opportunity to step into spaces like smart grids, energy storage, and decarbonization technologies.
Lessons from FEV’s approach to venture building
1. Diverse funding pools lead to massive capital inflows
FEV expertly balanced industry backing and private investments. Anchor investors include E.ON SE and high-profile contributors like ABN AMRO and the European Investment Fund. By pooling resources from different sectors, they’ve built a robust ecosystem that guarantees long-term sustainability.
For startups, this approach reinforces the importance of pitching to diverse investor audiences. Having early champions, whether through corporate partners or EU-level grants (a strategy I’ve leaned on in my ventures), establishes a solid foundation for attracting larger capital.
2. Late seed to Series B focus: A smarter growth strategy
With FEV targeting late-seed to Series B startups, companies generating €1–2 million in revenue, they’ve positioned themselves as a fund for ventures poised at critical scaling points. This reinforces the need to enter evidence-backed conversations with investors. Concepts alone aren’t enough anymore; early traction is a non-negotiable.
When I look back, building Fe/male Switch meant proving success by running small-scale experiments with bootstrapped funds. When we finally started engaging with potential supporters, results like a growing user base and retention metrics spoke louder than concepts ever could.
3. Focused innovation clusters
FEV’s strategy prioritizes startups creating solutions in grid flexibility, AI diagnostics, and mobility asset electrification. Their decision to carve out €30 million specifically for Italian startups also acknowledges the importance of focusing on niche markets before scaling further.
This approach offers an important takeaway for us, especially as founders in overlooked markets or sectors: it’s okay to own a niche before expanding. My journey in the CAD technology space taught me that first dominating a small but specific audience often leads to scalable success.
How female founders can ride this wave
At Fe/male Switch, I work with aspiring women entrepreneurs every day, and I know firsthand how underrepresented groups face systemic barriers. But initiatives like FEV’s fund show that the energy and tech industry is hungry for diversity, not just in solutions but in leadership too. Here’s how you can leverage the momentum:
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Build around scalable tech: Investors want solutions they can replicate across markets. Especially in energy, explore software-based platforms like AI tools or digital infrastructure. Not tech-savvy? Partner with those who are. I personally invested in reskilling myself in AI and blockchain to stay competitive.
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Show ROI early: Energy is heavily results-driven. Focus on securing pilot partnerships or running experiments that generate measurable impact. For instance, if your startup targets cleaner energy in cities, offer municipalities small-scale trials.
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Let diversity be your advantage: FEV’s leadership team is strikingly international and diverse. This isn’t a coincidence, diverse teams outperform homogenous ones across innovation metrics. Highlighting your unique perspective as a female founder or underrepresented entrepreneur is not a liability, it’s an asset.
Common mistakes to avoid
Even with €235 million in the pot, many startups will still struggle to secure funding. Here’s why, and how to avoid the pitfalls:
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Overcomplicating ideas: For deep-tech startups, there’s a tendency to make pitches overly technical. Remember, VCs are only partly interested in your technology. They care about its commercial viability more. Simplify when you explain.
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Lack of geographical focus: If you assume Europe’s energy market is homogenous, you’ll fail. Every region has its own grid challenges, renewable objectives, and energy consumption patterns. Tailor your startup’s product per region.
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Putting tech before market: You can have the most sophisticated AI system out there, but if it doesn’t meet a concrete market need, you’ll go nowhere. At Fe/male Switch, we taught early testers to frame tech innovation as a solution, not as the end goal itself.
Statistics entrepreneurs should know
- According to recent reports by Tech.eu, venture capital allocation to Europe’s energy tech sectors tripled between 2021 and 2023.
- Berlin-based FEV has already backed over 50 startups, with a particular focus on companies integrating AI and digital solutions.
- 85% of startups backed by FEV reported improved investor interest during their later rounds, showcasing the power of strong institutional anchors.
How you can prepare
Step-by-step guide to readiness:
- Have your numbers in place: Demonstrate not just current finances but potential upside scenarios.
- Focus on partnerships: FEV isn’t just about cash, they excel in connecting startups with big industry players. Build partner readiness.
- Refine your story: Investors invest in teams, visions, and clarity just as much as innovation. Practice your narrative until it feels personal.
- Pitch internationally: FEV’s reach spans Europe, North America, and even parts of Asia. Be ready to scale with diverse teams and geographies in mind.
Final thoughts
Future Energy Ventures just showed us that Europe’s energy market is ready for disruption, and billions in capital are waiting for those bold enough to lead. Female founders, take note: the opportunities aren’t just about tech, they hinge on transparent leadership, relatable narratives, and bold partnerships.
Take inspiration from FEV’s collaborative structure and focus on building ventures that don’t just exist within an ecosystem but actively redefine it. As I tell every team in Fe/male Switch: if you want to build the future, make sure everyone sees themselves in it.
For insights on securing EU-level grants or resources, check out Tech Funding News.
FAQ
1. What is Future Energy Ventures and what sets it apart?
Future Energy Ventures (FEV) is a leading energy-tech venture capital fund based in Berlin. It specializes in digital and asset-light technologies aimed at improving energy systems, including AI-driven and grid optimization solutions. Visit Future Energy Ventures
2. How much funding has FEV raised and what does it include?
FEV raised €235 million, which includes a €205 million main fund and a €30 million side fund for Italian startups, making it the largest energy-tech VC fund in Europe. Read about the €235M fund
3. What type of startups does FEV target for investment?
FEV targets late seed to Series B startups that generate €1–2 million in revenue and focus on digital solutions for energy systems, such as grid flexibility and AI diagnostics. Learn about their startup focus
4. How does FEV prioritize diversity and leadership in its investments?
FEV's leadership team values diversity, with members hailing from across Europe and beyond. This reflects their commitment to inclusivity in energy-tech entrepreneurship. Explore FEV's leadership
5. What geographical regions does FEV focus on?
FEV primarily invests in European startups but also extends support to projects in North America and Asia, aiming for global scalability. Read about FEV’s global strategy
6. How does FEV's Fund II align with Europe’s energy transition goals?
FEV's Fund II supports initiatives that enhance energy sovereignty, decarbonization, and technological advancements through collaboration with startups and corporate partners. Find more details on FEV Fund II
7. How can entrepreneurs prepare to approach FEV for funding?
Founders should showcase scalable tech, demonstrate measurable results, and customize solutions for regional energy challenges to attract investment. Discover entrepreneurial tips from FEV
8. Why is the €30 million Italian side fund significant?
The side fund highlights FEV’s focus on fostering regional innovation and supporting Italy's local startups in the energy-tech space. Learn more about FEV's Italian focus
9. Why should female founders pay attention to FEV initiatives?
FEV emphasizes diversity, making it a welcoming platform for women entrepreneurs to propose innovative energy solutions. Understand more about FEV and diversity
10. What are common mistakes startups make when seeking venture capital funding in energy-tech?
Mistakes include overcomplicating ideas, ignoring regional needs, and prioritizing technology over market demands. Startups should focus on simplicity, geographical customization, and customer value. Read about startup mistakes
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
