In this episode of NET-0, I speak with Natalia Ruiz Sáez, Managing Partner at SC Net Zero Ventures.
SC Net Zero Ventures is a Climate Tech growth fund managed by Suma Capital. The fund recently closed at €210 million and focuses on backing industrial decarbonization scale-ups across Europe.
Suma Capital is one of Spain’s leading alternative asset managers, with around €1.2 billion under management and a strong focus on sustainable investment.
Through SC Net Zero Ventures, Natalia and her team invest in companies that can help scale the next generation of clean industrial technologies.
Iberia is becoming one of the most exciting regions in Europe’s clean industrial transition. The region combines world-class renewable resources, competitive electricity prices, strong engineering talent and growing investor interest.
But turning that potential into scalable, bankable companies and projects is still the hard part.
We talk about why clean tech investment in Iberia is growing, what still holds the ecosystem back, and why scaling industrial technologies is so different from scaling software.
Natalia shares her view on the role of venture capital, public funding, corporate partners and bankability in bringing new climate technologies from pilot stage to commercial scale.
We also discuss what investors look for in founding teams, how Spain compares to markets like Germany and France, and whether Madrid could become one of Europe’s next major startup hubs.
Subscribe to NET-0:
https://www.youtube.com/@NET-0_Podcast
Learn more:
https://sumacapital.com/en/sc-venture/
Guest Links
Natalia Ruiz Sáez:
https://www.linkedin.com/in/natalia-ruiz-saez/
Host
Leon Urban:
https://www.linkedin.com/in/leon-urban/
Chapters
00:00 Iberia's €30B Clean Tech Gap — Why It's Europe's Biggest Opportunity
04:55 Why scaling clean tech is so hard
07:28 Inside the €210M Fund Backing Europe's Industrial Scale-Ups
13:14 Red Flags & Green Lights: What Industrial VCs Really Look For
17:06 The Bankability Problem: Why Great Clean Tech Can't Get Funded
20:51 Hardware is difficult for traditional venture capital
23:52 Europe's Exit Problem — and the Geopolitical Opportunity
27:47 Investment Strategy, Storage and Hydrogen: Where the
Smart Money Is Going
35:27 Is Madrid becoming Europe’s next startup hub?