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Schneider Electric Ventures (SEV) a Silicon Valley-based $565M global investment fund backed by Fortune 500 energy management and Schneider Electric

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Schneider Electric Ventures (SEV) a Silicon Valley-based $565M global investment fund backed by Fortune 500 energy management and Schneider Electric

September 08
13:48 2019

Schneider Electric Ventures (SEV) a Silicon Valley-based $565M global investment fund backed by Fortune 500 energy management and Schneider Electric, announced the addition of two senior partners to lead their growing investment team. Grant Allen and Varun Jain will bring their extensive global venture experience to SEV, and join Kevin Deneen, formerly of Aster Capital, to focus on investments in areas such as energy management, industrial automation and e-mobility.

Grant Allen joins Schneider Electric Ventures from Zurich-based ABB, where he led global ventures, overseeing a portfolio of 30+ direct and fund investments, including Bonsai AI (acquired by Microsoft), Industrial Defender (acquired by Lockheed Martin), Soft Robotics, and MineSense. An expert in corporate innovation and a venture investor for 12 years, he was instrumental in growing ABB Technology Ventures to become the most active CVC in the robotics/applied AI space, behind Google. 

Varun Jain joins Schneider Electric Ventures from Qualcomm Ventures, where he led the global early-stage practice, including a portfolio of 80+ investments. Some of the recent major exits from the practice include Cruise Automation (acquired by GM), 99 (acquired by Didi) and Zoom. He brings a strong background in industrial automation, e-mobility, and SaaS.

Schneider Electric Ventures has invested in category leaders such as AutoGrid, Claroty, Element Analytics, and Sense. They recently closed on investments with Titan AES, a novel Li-ion battery management system, and Synapticon, a motion control platform for industrial robots, and anticipate investing in 10 or more new startups annually. 

About Schneider Electric

Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.

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Website: https://www.schneider-electric.co.in/en/