Vireo Ventures Closes €50 Million Electrification Fund

Vireo Ventures, a Berlin-based VC fund, led by Felix Krause, Matthias Engel, Mischa Wetzel, Sven Heiligtag, Thomas Labryga, Lou Arzur, and Sandro Michelmann, has closed its €50 million electrification fund I to empower European Early-stage Founders Orchestrating an All-Electrified World. Vireo Ventures is backed by six leading European energy utilities, including Encevo, Verbund X, and EnBW New Ventures, as well as the European Investment Fund and NRW.BANK, and over 80 seasoned entrepreneurs, sector veterans, and energytech enthusiasts. Since its inception, Vireo has backed startups such as Encentive, Atmen, Green Fusion, and About:Energy.

The fund highlights investors’ strong commitment to solutions that drive an all-electrified future, strengthening Europe’s energy independence and global competitiveness.

Vireo Ventures has grown from a small angel network into a dedicated venture fund, building a trusted community of founders and industry partners driving Europe’s electrification. The fund’s oversubscribed close signals electrification as the defining investment theme of the decade.

Europe’s electrification push is urgent: electricity makes up just 23% of EU final energy use today, but must rise to 35% by 2030 and 61% by 2050. Expanding clean electricity across heating, transport, and industry could halve household bills, cut fossil fuel imports by tens of billions, and boost Europe’s strategic autonomy.

Vireo’s new fund targets early-stage European startups building technologies that orchestrate and synchronize generation, grids, storage, and downstream applications across mobility, industry, and real estate.

Vireo Ventures goes beyond funding by connecting startups with its global LP network of utilities, corporates, and entrepreneurs, enabling pilots and scaling opportunities in areas like grid intelligence and decarbonized heating.