2150, a venture capital group formed by Denmark-based property developer NREP, closed an oversubscribed first vehicle at €268m ($310m) on Tuesday featuring limited partners including carmaker Toyota’s Woven Capital subsidiary.
Financial services provider Credit Suisse also committed to the Urban Sustainability Technology Fund, as did an unnamed client advised by Goldman Sachs Asset Management’s AIMS Imprint, non-profit organisation BMW Foundation and the Norwegian state-sponsored Nysnø Climate Investments.
Urban Sustainability Technology Fund’s final close surpassed its initial target by 33%, according to 2150, which intends to back urban environment technology developers through the initiative.
NREP had anchored the fund’s $158m first close soon after 2150 was founded in February this year, and was joined by pharmaceutical firm Novo, Danish state-owned Green Future Fund and investment firm Chr Augustinus Fabrikker as well as unnamed family offices and real estate-focused investors.
The vehicle has already backed five companies including carbon capture technology developer CarbonCure Technologies, enterprise environmental footprint calculator Normative and Aeroseal, which is working on duct leak sealing systems.
Nodes & Links, the operator of an infrastructure project simulation platform called Aegis, and Ampd Energy, a creator of technology which helps electrify construction sites in a bid to reduce pollutants, fill out the firm’s portfolio.
