Breakthrough Energy Ventures-Europe (BEV-E) is a first-of-a-kind €100 million pilot fund that invests in groundbreaking technologies to decarbonize every part of the economy. It was created in May 2019 as a partnership between Breakthrough Energy Ventures (BEV), the European Investment Bank, and the European Commission (EC), a worldwide leader in establishing climate targets and supporting clean energy research and development. Half of the equity comes from BEV and the other half from the European Investment Bank guaranteed by InnovFin, a financial instrument funded through the EU's research and innovation programm.