Copel took another step in its journey in Open Innovation by consolidating, in 2023, its first Corporate Venture Capital (CVC) fund, Copel Ventures I. With an initial investment of R$150 million, the fund has stood out in promotion of national and international startups that are at the forefront of the energy transition (in the Seed and Series-A stages), aiming to develop solutions in services and products linked to the electricity sector and covering the pillars of decarbonization, decentralization, digitalization and demand disruption .

Copel Ventures I is an exclusive fund, wholly owned by Copel, with Vox Capital as manager. With a contribution range between R$2 and R$10 million per startup, it is estimated that around 15 innovative companies will be incorporated into the portfolio.

Copel Ventures I’s focus covers five main areas: renewable and clean energy; energy as a service; smart cities and electromobility; asset and facilities management; and innovative internal processes. This investment model is unprecedented for the Company, as it seeks a strategic return in addition to financial gains, driving innovation in the electricity sector and promoting a positive impact on society and the environment.

The fund’s strategic focus remains on acquiring minority stakes, ranging from 10% to 15%, in early-stage companies. This approach not only allows Copel to support the growth and maturation of these innovative initiatives, but also aims for a robust financial return through the future appreciation of these startups.

Within a period of five months, Copel Ventures I carried out intensive prospecting and analysis work, examining 80 companies and identifying particularly promising opportunities in the sub-verticals of distributed generation, electric mobility and asset management.

To date, the fund celebrates one investment already made and another at an advanced stage, with a TermSheet signed and in the due diligence phase. These steps reflect Copel’s strategy of nurturing the innovation ecosystem, while seeking partnerships that can generate new business and bring executives closer to innovative and disruptive ventures.

Interaction with startups is strategic not only from a financial point of view, but also as a way to access new ideas and business models that can accelerate Copel’s own transformation.

Investing in companies that are redefining the energy sector allows Copel to not only follow, but also lead the evolution of the market, ensuring a prominent position on the journey towards a more sustainable future. This symbiotic relationship also aims to strengthen Copel’s brand, directly associating it with sustainability and innovation, elements increasingly valued by the new consumer profile.

Copel Ventures I continues to be a relevant component of Copel’s growth and innovation strategy, contributing significantly to the company’s mission of being one of the top three in Brazil’s energy sector in terms of market value by 2030. In 2023, the variable remuneration of part of Copel’s executives was linked to Corporate Venture Capital, with the target of approving investment in at least one startup, which was achieved by Copel.

Copel Ventures I is a clear reflection of the company’s commitment to sustainable development and innovation that not only drives the electricity sector, but also promotes a positive and lasting impact on society and the environment.