2150, a London, UK- Copenhagen, Denmark- and Berlin, Germany-based venture capital firm investing in technology companies that seek to sustainably reimagine and reshape the urban environment, held the first close of its maiden Tech Sustainability Fund, at €130m.
The final close of €200m is anticipated by mid-2021.
Limited Partners in 2150’s first fund include a mix of institutional capital and family offices including Chr. Augustinus Fabrikker, Denmark’s Green Future Fund and Novo Holdings alongside an ecosystem of partners building or managing over ten million square meters of real estate, who will help evaluate and accelerate the adoption of the sustainable technologies that the fund backs.
Incubated and anchored by NREP, one of Northern Europe’s leading real estate fund managers and company builders, the fund will back technology companies that seek to sustainably reimagine and reshape the urban environment. It will invest across all layers of the urban environment, from new materials and automation in construction, to algorithms making buildings more efficient, to sensors and software that improve the health, safety, and productivity of its occupants, and the data and tools that help mitigate the carbon footprint of our cities.
It aims to facilitate an ecosystem of participants in the urban value chain, who own or manage over 10 million square meters of real estate, all aligned in tackling the biggest challenges of the urban environment.
Initial investments will range from €1-7m with an ability to invest up to €40m per company, allowing for scale. With its first fund, 2150 plans to build a portfolio of 20 companies, each with a potential to become a “Gigacorn” – a commercially successful company with the potential to reduce or mitigate a Gigaton of CO2 equivalent. In order to nurture and grow these businesses long term, it has the potential to invest up to €40m per company over time.
Led by Christian Hernandez, Mikkel Bülow-Lehnsby, Jacob Bro, and Christian Jølck, 2150 has announced its first investment from the fund, having participated in a funding round in CarbonCure Technologies, a Canadian company lowering the CO2 footprint of concrete, which accounts for 8% of all global CO2 emissions. The firm invested alongside Amazon’s Climate Pledge Fund, Bill Gates-backed Breakthrough Energy Ventures, and Microsoft’s Climate Innovation Fund.
FinSMEs
23/02/2021