SENCO Hydrogen Capital

Investment decisions are led by Carsten, the firm's CEO and Managing Partner, and Oliver, Managing Partner. Carsten previously served as CEO and CIO of NORD/LB Asset Management AG and Warburg Invest AG, while Oliver co-founded Silver Investment Partners and managed direct investments at Equity Partners. Together they anchor a team that includes both private equity professionals and deep-domain experts in hydrogen and energy infrastructure.

SENCO operates as a sector-focused private equity firm, not a venture firm. It targets profitable, mid-sized companies in the European lower mid-market with proven technologies and typically writes equity tickets of around €10–15 million. Investments can be structured as majority or minority positions, often supporting growth, succession situations, or shareholder-structure changes.

The European Investment Fund committed €50 million to SENCO as part of a broader institutional fundraise that includes European insurers, pension schemes, and single family offices. This commitment is additive to SENCO's core capital and is directed toward investments in energy-transition, energy-security, and hydrogen-economy companies in the European lower mid-market.

SENCO invests exclusively in industrial companies that support the energy transition, energy security, or hydrogen economy. This includes equipment suppliers, component manufacturers, system providers, and specialized service companies across energy generation, transport, storage, and use. The firm does not invest in generalist industrial, consumer, or software businesses that fall outside this energy-and-hydrogen mandate.

The firm's public materials describe a direct-investment model focused on taking equity stakes in operating companies. There is no evidence that SENCO operates as a fund-of-funds or makes commitments to third-party private equity funds. The partnership model relies on in-house investment professionals complemented by a network of industry experts and senior advisors.

SENCO invests in Europe. Its own offices are in Frankfurt, Munich, and Hanover, and the firm's website points to a European mid-market focus across countries where energy-transition and hydrogen-economy infrastructure is being built out. The firm does not indicate plans to invest outside Europe at this stage.

SENCO is a signatory of the UN Principles for Responsible Investment and applies sustainability criteria at every step of its investment process. The firm targets net zero emissions by 2050 or sooner and actively works to reduce carbon emissions within its portfolio companies by implementing ESG strategies. Its investment strategy is aligned with the UN Paris Agreement on climate change.