Anchor Energy Partners targets €75 million for debut storage fund

Anchor Energy Partners launched its debut fund, Anchor Fund I, with a €75 million ($84 million) target to acquire and operate battery storage and energy flexibility assets in Europe. The Copenhagen-based firm said the fund will target de-risked, ready-to-build projects.

The first close drew commitments from 2degrees, a founding investor and co-owner of Anchor, and other investors in its network, according to ESG Today. The amount raised at that close was not disclosed.

The fund is Anchor's first, so investors will have to assess the founding team's track record elsewhere rather than a realized Anchor portfolio.

Anchor is aiming at mid-market assets it says are too small for large infrastructure funds and need more capital than developers can supply on their own.

Chief executive Fabian Siegel co-founded Delivery Hero and founded Marley Spoon and Icecreek Energy. He is joined by Lasse Helstrup, formerly director of investments at AIP Management; Abhi Chirimar, previously chief AI officer at Icecreek Energy; Alejandra Huerta, a former BCG principal; and Ludvig Holsteinborg, formerly director of operations, IR and general counsel at The Footprint Fund.

Siegel said the constraint has moved from building generation to providing flexibility. "Many good mid-market projects are stuck because few investors are set up with appropriate capital and expertise to underwrite them," he said.