A brand new VC fund, “2150“, is launching with the primary shut of a €200m ($281m) fund which is able to again applied sciences aimed largely at lowering the carbon footprint of cities. For instance, startups that inject carbon into concrete, or monitor the vitality of buildings. The ultimate shut is anticipated by mid-2021.
The advisory board for 2150 contains the previous chief sustainability officer within the Obama administration and famend urbanist and educational, Richard Florida. 2150 is predicated round the concept that half of the world’s inhabitants lives in cities, and this can enhance to two-thirds by 2050, making a rising environmental impression that the world can ill-afford, given the local weather disaster.
Based throughout London, Copenhagen and Berlin, the fund’s Limited Partners embrace a mixture of institutional capital and household places of work together with Chr. Augustinus Fabrikker, Denmark’s Green Future Fund and Novo Holdings. 2150 says it has different LP companions who’re constructing or managing “over 16 million sq. meters of actual property”, who will turn out to be useful, kicking the tires on the efficacy of 2150 investments. The anchor funding has come from NREP, a sustainable actual property fund supervisor with a big Northern European footprint and platform.
The founding companions embrace Mikkel Bülow-Lehnsby, Chairman and co-founder of giant actual property logistics firm NREP; Jacob Bro, former Chief Product Officer at Rocket Internet; Christian Jølck, the founder and former Chairman of trade local weather advocacy group SYNERGI; Christian Hernandez, former Facebook govt and VC; Nicole LeBlanc, previously with Alphabet’s city product incubator Sidewalk Labs; Rahul Parekh, founding father of VC-backed foodtech startup EatFirst and former govt director at Goldman Sachs; and Alexandra Perez, who incubated and launched city tech startups at Tech City Ventures.
2150 will deal with startups that may make cities extra resilient, environment friendly and sustainable, investing in tech related to the city setting, supplies, automation, and sensor-based monitoring to enhance the well being, security, and productiveness of constructing occupants. It says it should solely make investments the place sustainability impression may be measured, aiming for a primary portfolio of round 20 firms. Ticket sizes might be €4-5m collection A for startups, however it should additionally put money into current firms that wish to increase.
Its first funding is in CarbonTreatment Technologies – a Canadian firm decreasing the CO2 footprint of concrete – wherein 2150 participated in a funding spherical for final 12 months, investing alongside Amazon’s Climate Pledge Fund, Bill Gates-backed Breakthrough Energy Ventures, and Microsoft’s Climate Innovation Fund. At current, concrete accounts for 8% of all international CO2 emissions
Speaking to TechCrunch, Hernandez stated 2150 was significantly keen on what’s coming to be often known as “ESG Analytics” or “Carbon Accounting”. In different phrases, platforms that may analyze the impression of developments for an ESG and CO2 perspective.
The different background knowledge which impressed the creation of the fund contains the truth that two billion new properties will have to be constructed over the following 80 years ; cities devour over two-thirds of the world’s vitality and account for greater than 70% of worldwide CO2 emissions; 13% of worldwide GDP is spent on building, however the trade is gradual to undertake new expertise; and the UN has stated ground-breaking innovation is required in cities, the place the battle for sustainable improvement might be “received or misplaced”.
Mikkel Bülow-Lehnsby, Partner at 2150 and Chairman and co-founder of NREP, stated: “With NREP we now have been on a 15-year mission of constructing actual property and cities extra environment friendly, customer-centric and sustainable. With 2150 we’re leveraging all of NREP’s learnings and ambitions and partnering with our trade friends to establish and speed up expertise that may assist us help our function of constructing actual property higher. I’m satisfied that 2150’s mission-aligned workforce will play an vital function in designing a future wherein the convergence of entrepreneurship, expertise and sustainability will reverse the constructed setting’s adverse impression on the planet.”
Christian Hernandez, Partner at 2150, stated: “Cities are advanced dwelling techniques which can be continually increasing, evolving and adapting, with half the world’s inhabitants now dwelling in city environments and rising. Cities, whereas autos for the betterment of humanity, at the moment emit 70% of the world’s greenhouse gases and generate the overwhelming majority of the planet’s waste. We see an enormous alternative to make a critical impression on the best way cities are developed and the best way our residents dwell, work and are cared for by utterly reimagining and reshaping the city setting for good.”
The advisory board for 2150 contains technologists, scientists and designers together with well-known architect, Bjarke Ingels, the Director of Princeton’s Andlinger Center for Energy and the Environment; Dr. Lynn Loo, Unity’s head of AI; Danny Lange, the previous Chief Sustainability Officer within the Obama Administration; Christine Harada, the founding father of sustainable developer EDGE Technologies; and Coen van Oostrom.