Six months after announcing the first close of its flagship fund, newcomer 2150 has announced the final close at an impressive €268 million. The fund has offices in Copenhagen,Berlin,London and is backing startups on a mission to reduce carbon emissions via the medium of cities, which pump out CO2 at ever-growing rates as they develop.
2150 is anchored by Northern European real estate private equity platform NREP as well as anchored by Chr. Augustinus Fabrikker, Novo Holdings, and Denmark’s Green Future Fund in February of this year. The new investors in the fund include Credit Suisse and a client advised by AIMS Imprint of Goldman Sachs Asset Management, the Norwegian sovereign climate investment company, Nysnø as well as the BMW Foundation and Woven Capital, the investment arm of Toyota’s Woven Planet Group.
The fund is looking to invest in around 20 companies in the initial portfolio with a ticket size ranging around €4 to 5 million for Series A investments. The first investment made by the fund was CarbonCure, a company that, “introduces recycled CO₂ into fresh concrete to reduce its carbon footprint without compromising performance,” and recently, Normative a Swedish startup that helps companies track their carbon footprint.
2150’s vision is simple: the Climate Crisis will not stop countries from continuing to develop cities. So developing technologies that will mitigate or even draw down the resulting CO2 emissions, is key.