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 decreasing 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 includes 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 population lives in cities, and this may improve to two-thirds by 2050, making a rising environmental impression that the world can ill-afford, given the local weather disaster.
Based mostly throughout London, Copenhagen and Berlin, the fund’s Restricted Companions embody a mixture of institutional capital and household places of work together with Chr. Augustinus Fabrikker, Denmark’s Inexperienced 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 come in 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 embody Mikkel Bülow-Lehnsby, Chairman and co-founder of giant actual property logistics firm NREP; Jacob Bro, former Chief Product Officer at Rocket Web; Christian Jølck, the founder and former Chairman of business local weather advocacy group SYNERGI; Christian Hernandez, former Fb government 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 government director at Goldman Sachs; and Alexandra Perez, who incubated and launched city tech startups at Tech Metropolis Ventures.
2150 will concentrate on 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 is going to solely make investments the place sustainability impression might be measured, aiming for a primary portfolio of round 20 firms. Ticket sizes can be €4-5m sequence A for startups, however it is going to additionally spend money on current firms that wish to broaden.
Its first funding is in CarbonCure Technologies – a Canadian firm decreasing the CO2 footprint of concrete – during which 2150 participated in a funding spherical for final 12 months, investing alongside Amazon’s Local weather Pledge Fund, Invoice Gates-backed Breakthrough Vitality Ventures, and Microsoft’s Local weather Innovation Fund. At current, concrete accounts for 8% of all international CO2 emissions
Talking to TechCrunch, Hernandez mentioned 2150 was significantly fascinated about 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 opposite background knowledge which impressed the creation of the fund contains the truth that two billion new properties will must be constructed over the subsequent 80 years ; cities consume 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 business is gradual to undertake new expertise; and the UN has said ground-breaking innovation is required in cities, the place the battle for sustainable growth can be “received or misplaced”.
Mikkel Bülow-Lehnsby, Accomplice at 2150 and Chairman and co-founder of NREP, mentioned: “With NREP we’ve got been on a 15-year mission of creating 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 business friends to determine and speed up expertise that may assist us assist our objective of creating actual property higher. I’m satisfied that 2150’s mission-aligned workforce will play an necessary position in designing a future during which the convergence of entrepreneurship, expertise and sustainability will reverse the constructed setting’s damaging impression on the planet.”
Christian Hernandez, Accomplice at 2150, mentioned: “Cities are advanced dwelling techniques which might be continuously increasing, evolving and adapting, with half the world’s inhabitants now dwelling in city environments and rising. Cities, whereas automobiles for the betterment of humanity, at present 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 severe impression on the way in which cities are developed and the way in which our residents dwell, work and are cared for by fully 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 Middle for Vitality and the Surroundings; Dr. Lynn Bathroom, 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 Applied sciences; and Coen van Oostrom.