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§ Venture Capital · Paris, France
Venture capital firm investing in early-stage technology startups focused on climate tech, deep tech, and industrial transformation.
Aster Capital is a Paris-based venture capital firm that invests in early-stage technology startups focused on climate change, energy transition, and industrial transformation. The firm manages over €500 million in assets under management across multiple funds, including a recently raised €240 million vehicle targeting sustainable mobility and deep tech sectors. Executing investment tickets ranging from $1 million to $5 million, the organization has completed over 100 startup investments from the Seed to Series B stages. Aster Capital utilizes capital from major corporate limited partners such as Schneider Electric and Alstom to back notable portfolio companies like Elroy Air, Heetch, and Shift Technology, which recently achieved a $1 billion valuation. Originally established as Schneider Electric Ventures in 2000, the firm was spun out as an independent management company in 2010 by managing partner Jean-Marc Bally.
Key people at Aster Capital.
Aster Capital is a Paris-based venture capital firm specializing in investments that address global challenges such as climate change, sustainability, and social inequality. Its investment philosophy centers on backing visionary entrepreneurs who aim to build lasting value by transforming industries critical to daily life, including energy, manufacturing, mobility, and construction. Aster supports startups across various stages, from seed to growth, providing not only capital but also strategic guidance and operational support to accelerate their impact. The firm’s portfolio includes companies innovating in clean energy, smart mobility, and industrial technologies, reflecting its commitment to fostering sustainable economic growth and carbon neutrality[1][2][3][4][5].
Founded in 2000, Aster Capital originated from Schneider Electric Ventures and was formally launched as a multi-corporate fund in 2010 through a partnership between Schneider Electric and Alstom. This unique genesis reflects its roots in large industrial corporations seeking to identify and nurture innovation beyond their internal R&D, focusing on open innovation to capture emerging market opportunities. Jean-Marc Bally currently leads the firm, which has evolved from a €70 million fund to managing over €500 million in assets globally, with offices in Paris, San Francisco, Tel Aviv, and Cambridge. Over time, Aster has expanded its focus to include a broader range of sectors tied to energy transition and industrial transformation, maintaining a strong emphasis on sustainability and technological disruption[2][3][6].
Aster Capital rides the global trend toward energy transition, sustainability, and industrial digitalization. The timing is critical as governments and industries worldwide accelerate decarbonization efforts and seek innovative solutions to climate change and resource efficiency. Market forces such as regulatory pressure, technological advances in clean energy and mobility, and growing investor interest in ESG (Environmental, Social, Governance) criteria work strongly in Aster’s favor. By bridging corporate innovation with startup agility, Aster influences the broader ecosystem by enabling industrial players to adopt breakthrough
Key people at Aster Capital.
Aster Capital has more than 26 tracked investments across 21 companies. The latest tracked deal is $15.0M Other Equity in Aether Fuels in January 2026.
