Clean Tech Fund Launches

Italian oil & gas major Eni and asset manager Azimut are teaming up to launch a €100 million venture capital fund focused on clean energy technology startups. Announced by Eni’s VC arm (Eni Next), the planned European Long-Term Investment Fund (ELTIF) -- expected to debut by September -- will channel capital into high-potential decarbonization, energy efficiency, sustainable mobility, and circular economy ventures.

The fund will solicit both institutional and private investors under new ELTIF 2.0 regulations, aiming to bridge traditional finance with cutting-edge energy innovation. Azimut’s CEO stated that the partnership provides investors with access to transformative technologies amid the sector’s generational shift. Eni Next will act as a strategic advisor, leveraging its industry expertise and global innovation network to source deals, while Azimut provides fund structuring and distribution across its 20-country presence.

Though targeting mainly U.S. clean-tech startups, the fund may also invest in European or other markets to scale solutions that can accelerate the energy transition.