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DNV GL LAUNCHES FUND TO INVEST IN NEW TECHNOLOGIES

Monday, March 2, 2020 

DNV GL has launched a venture fund in response to the challenges of the so-called 'decade of transformations', with the intention of building a portfolio of between 15-20 startups in the next four years, taking stakes of up to 20% in the companies.

“We have entered a decade of transformation where the pace of the energy transition will be set and digital technologies underpinning industry 4.0 will mature from experimentation into large-scale application.  Therefore, operating like it is business as usual is not an option,” said Klas Bendrik, Chair of DNV GL Ventures investment committee and DNV GL’s Chief Digital Transformation Officer.  “The launch of DNV GL Ventures is an acknowledgment that even a company of experts like ours must look beyond its own four walls to stay relevant.”

DNV GL says its services are already reflecting the shift to digitalisation and new energy, an example being the recent launch of FuelBoss, a platform that facilitates LNG bunkering for ships.  DNV GL has explored how industry 4.0 is likely to impact society and industry in its publication Technology Outlook 2030.

DNV GL Ventures is looking to invest in companies that reflect these important transformations. It hopes to focus on DNV GL’s strong industry categories, especially the maritime and energy sectors.  DNV GL Ventures will invest in startups in the seed to series A phase, meaning they have their first customer or in other ways validated their product-market fit.  In addition to capital, the startups will gain access to DNV GL’s wide spectrum of technical expertise, customer base of 100 000 clients and brand value.  

“With our purpose to 'safeguard life, property and the environment' and deep technical expertise we offer an alternative investment option than traditional investors,” said Kaare Helle, Venture Director at DNV GL Ventures. “Over the last 150 years we have accumulated a massive amount of knowledge and a customer base to match, and any startup we invest in will be able to tap into this.”

In keeping with the rapid pace of change, DNV GL is inviting startups to send 90-second video pitches directly to the venture team.  Each video will be reviewed, and feedback given within 15 working days.

“Startups will have enough time in the future to make PowerPoint presentations, we want them to be focused on developing their product and building their customer base.  The video pitch is an opportunity to demonstrate their business case in a way that is time efficient for both parties,” said Helle.

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