Energy conglomerate Eni and Azimut partner to establish a €100 million Clean Tech Venture Fund focused on innovative, sustainable energy technologies.
Italian energy company Eni's venture capital unit, Eni Next, has announced a strategic partnership with asset manager Azimut. The collaboration aims to launch a €100 million European Long Term Investment Fund (ELTIF) focused on clean tech and decarbonization technologies, set to launch in September 2025.
The new venture investment fund will primarily invest in startups and scale-ups in the clean tech sector, with a focus on decarbonization, energy efficiency, sustainable mobility, and the circular economy. Potential opportunities extend beyond the U.S., with investments also being considered in Europe and other international markets.
The fund will operate under the revised ELTIF 2.0 framework, allowing both institutional and private investors broad access to innovative clean energy investments. Azimut, with extensive private market experience and a broad international distribution network, will manage the fund's structuring and fundraising. Eni Next will act as a strategic advisor, providing deep technological expertise, deal sourcing, and support through its innovation capabilities and industry presence across energy sectors.
Giorgio Medda, CEO of Azimut Holding, stated that the fund aims to give investors access to the most promising and high-potential opportunities in the energy sector. This partnership combines Azimut's financial market experience with Eni Next's technological and industrial innovation leadership, designed to accelerate the growth of high-impact energy innovation companies and support the global energy transition.
The collaboration aligns with both firms’ commitment to driving financial innovation and supporting sustainable energy transformation. Planned investments contribute to a total of at least €470 million dedicated by Azimut Group since 2022 toward energy transition and environmental sustainability. This partnership marks a significant step in bridging private capital with cutting-edge clean technology solutions to speed up decarbonization and energy innovation globally.
The energy sector is undergoing a profound transformation driven by technological innovation. This partnership aims to accelerate the development of cutting-edge energy technologies, further enhancing the growth of the Eni Next portfolio. The Luxembourg-domiciled fund is currently pending regulatory approval.
The strategic partnership between Eni Next and Azimut will primarily invest in clean tech startups and scale-ups, focusing on decarbonization, energy efficiency, sustainable mobility, and the circular economy, using funds from the European Long Term Investment Fund (ELTIF). This collaboration seeks to give investors access to the most promising opportunities in the energy sector, combining Azimut's financial market experience with Eni Next's technological and industrial innovation leadership, thereby supporting the global energy transition, a goal aligned with both firms' commitments to driving financial innovation and environmental sustainability. In the pursuit of enhancing the growth of the Eni Next portfolio, the partnership will invest in cutting-edge energy technologies, embodying the profound transformation of the energy sector driven by science and technology.
