Venture capital investment firm 2150 announced today that it has raised €210 million (USD$249 million) at the final close of its second fund, aimed at investing in sustainability and climate tech startup targeting solutions for how cities are designed, constructed and powered.
London-based 2150 was founded in 2019 to back technology companies enabling sustainable urban prosperity growth and the industries that will power future cities, under its thesis that “cities generate 80% of the world’s prosperity and that new technologies are converging to ensure urbanization finally becomes sustainable for both people and the planet.”
Target investment areas for the firm include solutions across energy, industrial decarbonization, advanced manufacturing, mobility solutions, and urban systems. To date, 2150 has invested in 27 portfolio companies, with combined annual revenues greater than $1 billion, and with a reported climate impact above one million tonnes of CO2 annually. The firm’s portfolio includes startup targeting solutions in areas including energy, cooling, lower-carbon cement, biodiversity monitoring, industrial heat, critical minerals, urban mobility and circular economy.
2150 said that its second fund, Fund II, has attracted investors across Europe, Asia and North America, including Viessmann Generations Group, Chr. Augustinus Fabrikker, Novo Holdings, the Danish sovereign fund EIFO, Security Trading Oy, Islandbridge Capital, Fund of Funds Carbon Equity, and the US-based Church Pension Group.
To date, Fund II has already invested in 7 companies, including industrial steam decarbonization solution provider AtmosZero, metal recycling startup Metcycle, carbon removal technology company Mission Zero, and electronic device refurbishment company GetMobil, with three more deals yet to be announced.
2150 Co-founder and Partner Christian Jolck said:
“Our exceptional founders are building companies of scale with an aggregate revenue of over $1 billion and over 4,500 employees. For Fund II, we have continued to partner with leading institutional investors across Europe, North America, and Asia, and who have invested in this category for multiple cycles. This combination gives us strong conviction in 2150’s ability to deliver attractive long-term returns and a long-standing investment platform.”
