An urban sustainability technology firm launched by NREP has raised €268m in an oversubscribed fundraising backed by investors including Norwegian state’s climate investment company Nysnø and Credit Suisse.
NREP said 2150 exceeded its initial €200m fundraising target by 33% as received commitments from backers including the BMW Foundation, Woven Capital and other investors.
As previously reported, 2150 secured an initial €130m for its first fund from investors including Chr Augustinus Fabrikker, Novo Holdings and Denmark’s state-owned Green Future Fund.
The Nordic real estate fund manager said 2150, which was launched in February this year to invest in technologies related to sustainable property development, has made its first five investments.
It made investments in carbon accounting specialist Normative in Sweden, Aeroseal in the US as well as Nodes & Links in the UK. The fund has also backed Hong Kong-based AMPD Energy and Canadian cleantech firm CarbonCure Technologies.
Financial details were undisclosed.
Mikkel Bülow-Lehnsby, chairman of NREP and co-founder of 2150, said: “We are thrilled by the immense interest in 2150 from both investors and companies with breakthrough technology that are so crucial to the urgently needed transformation of the built environments of the world’s cities.
“The climate emergency is the challenge of our generation. Cities are responsible for the majority of man-made carbon emissions, but they also hold the potential to lead the solution. Identifying and backing the right companies with scalable, green technologies, we believe that we have a big role to play.”
Based in London, Copenhagen, and Berlin, venture capital firm 2150’s first fund seeks to build a portfolio of approximately 20 companies, each of which have the potential to become ‘gigacorns’ – commercially successful firms with the potential to reduce or mitigate gigatons of CO2, according to NREP.
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