Inven Capital

Managing Director Petr Míkovec oversees the investment team, with Investment Director Tomáš Bárta playing a central role in deal execution. The team operates with significant autonomy within ČEZ Group's corporate structure, though strategic alignment with the parent utility's energy-transition goals shapes the mandate.

Inven Capital was founded in 2014 as the dedicated venture-capital subsidiary of ČEZ, the Czech Republic's largest energy utility. ČEZ provided the majority of the initial €240 million commitment, with the European Investment Bank contributing as a co-anchor LP. The firm invests independently but benefits from ČEZ's operational footprint and technical expertise across Central and Eastern Europe.

Inven focuses on growth equity and later-stage venture investments, typically writing checks between €5 million and €20 million. The firm leads or co-leads rounds in companies with proven technology and initial commercial traction, prioritizing clean energy, mobility, and grid-adjacent industrial tech across Europe and Israel.

The primary geographic mandate covers the European Union, but Inven has made notable investments in Israeli climate-tech companies, including Driivz, an EV-charging software platform. The firm's investment committee evaluates opportunities in any jurisdiction where European energy regulation or technology transfer creates a viable exit pathway.

Inven's most prominent exit was sonnen, the German residential battery manufacturer, which was acquired by Shell in 2019. Israeli portfolio company Driivz was acquired by Vontier. The firm targets strategic buyers — large energy companies, automotive OEMs, and industrial conglomerates — rather than relying on IPO pathways.

Inven Capital is a corporate venture-capital arm wholly owned by ČEZ Group, structured as a separate legal entity with its own investment committee. It does not manage third-party capital beyond the European Investment Bank's co-anchor commitment and does not operate as a fund-of-funds or multi-family office.

Inven's mandate excludes fossil-fuel extraction, thermal-coal generation, and traditional oil-and-gas infrastructure, consistent with ČEZ's stated decarbonization strategy. The firm also avoids consumer-internet and pure-software plays that lack a hardware or industrial-technology component tied to energy systems.