A new VC fund, “2150”, is starting with the first closure of the € 200m ($ 281m) fund, which will scale back technologies aimed at reducing the carbon footprint of cities. For example, startups that inject carbon into concrete, or monitor the energy of buildings. The final closing is anticipated by mid-2021.
The advisory board for 2150 includes Richard Florida, a former chief sustainability officer in the Obama administration and noted urban and academic. 2150 is based on the idea that half of the world’s population lives in cities, and it will increase by two-thirds by 2050, creating a growing environmental impact that can make the world sick, given the climate crisis.
Located in London, Copenhagen and Berlin, the Fund’s Limited Partners include institutional capital and family offices. Augustinus Fabricar, Green Future Fund of Denmark and Novo Holdings. 2150 says it has other LP partners who are building or managing “more than 16 million square meters of real estate”, which will come in handy at hitting the tires at the efficacy of 2150 investments. Anchor funding has come from NREP, a permanent real estate fund manager with a large Northern European footprint and platform.
The founding partners include Mikel Bulow-Lehnsby, president and co-founder of large real estate logistics company NREP; Jacob Bhai, former chief product officer at Rocket Internet; Christian Jølck, founder and former president of the industry climate advocacy group SYNERGI; Christian Hernández, former Facebook executive and VC; Nicole Leblanc, formerly with Alphabet’s urban products incubator Sidewell Labs; Rahul Parekh, founder of VC-backed foodtech startup EatFirst and former executive director of Goldman Sachs; And Alexandra Perez, who launched and launched an urban tech startup at Tech City Ventures.
2150 will focus on startups that can make cities more flexible, efficient, and sustainable, investing in technology associated with urban environments, materials, automation, and sensor-based monitoring to improve health, safety, and productivity of building builders Can. It states that it will only invest where the stability effect can be measured, aiming for the first portfolio of about 20 companies. The ticket size for the startup will be € 4-5m Series A, but it will also invest in existing companies that want to expand.
Its first investment is in CarbonCure Technologies – a Canadian company that reduces the CO2 footprint of concrete – in which 2150 participated in a funding round for the past year, Amazon Climate Pledge Fund, Bill Gates-backed Breakthrough Energy Ventures, and Microsoft Invested with K Climate Innovation Fund. . Currently, solids account for 8% of all global CO2 emissions
Speaking to ClearTips, Hernandez said the 2150 was particularly interested in what is known as “ESG Analytics” or “carbon accounting”. In other words, platforms that can analyze development implications for an ESG and CO2 perspective.
Other background figures motivating the construction of the fund include the fact that two billion new homes will have to be built in the next 80 years; Cities consume more than two-thirds of the world’s energy and account for more than 70% of global CO2 emissions; 13% of global GDP is spent on manufacturing, but the industry is slow to adopt new technology; And the U.N. has said that ground-breaking innovation is needed in cities where the battle for sustainable development will be “win or lose”.
In 2150, Partner and NREP President and Co-Founder Mikel Bulow-Lehansby said: “With NREP we are on a 15-year mission to make real estate and cities more efficient, customer-centric and sustainable. With 2150 we NREP Is leveraging all of its learning and ambitions and partnering with its industry peers to identify and accelerate technology that can support us in our objective of making real estate better. I believe The mission-aligned team of 2150 will play a key role in designing a future in which the convergence of entrepreneurship, technology and sustainability will reverse the negative impact of the built environment on the planet. “
In 2150 partner Christian Hernández stated: “Cities are complex living systems that are constantly growing, evolving and evolving, with half of the world’s population now living and growing in urban environments. Cities, while vehicles for the good of humanity, currently emit 70% of the world’s greenhouse gases and generate the majority of the planet’s waste. We see a huge opportunity to have a serious impact on the way cities evolve and the way our citizens live, work, and care for it to completely reinvent and transform urban environments for good. “
The 2150 Advisory Board consists of technologists, scientists and designers, including noted architect, Bjarki Ingalls, director of Princeton’s Endlinger Center for Energy and the Environment; Dr. Lin Lu, Unity’s head of AI; Danny Lang, former chief stability officer in the Obama administration; Christine Harda, founder of permanent developer EDGE Technologies; And Koen van Ostrom.