Announcing the final close of our second fund (with seven investments to date) and achieving €500m in AUM in four years.
In early 2021 we unveiled 2150, our ambition to re-image the urban environment and €200m already secured. By the end of that year we held a final close of Fund I. When we got started, “Climate Tech” was still an emerging term. The application of the tool of venture to accelerate our energy transition was re-emerging. We were already seeing amazing founders and amazing technology begin to scale requiring specialised capital and support.
The category then exploded with every single quarter between Q1 2021 and Q4 2022 seeing over $10 billion deployed. This was supported by healthy dealflow: Since our unveiling in 2021 we have consistently evaluated between 2,000 and 3,000 investment opportunities per year proving the breadth and global reach of entrepreneurs seeking to reimagine our cities and the industries that power them.
And today -four short years after we closed Fund I- we are proud to announce the final close of Fund II. In that brief span, 2150 now has €500m of assets under management and has backed 27 companies across the US, Canada, UK, Germany, Sweden, Brazil, Türkiye and Singapore. Those companies now employ over 4,500 people and have an aggregate revenue run rate of over $1 billion. Their impact can be measured in megatonnes as their solutions have been deployed in over 100 countries and territories.
Our deployment rate has not abated and Fund II’s portfolio already includes seven investments: From electrified industrial heat company AtmosZero, to carbon capture firm MissionZero, metal recycling marketplace Metycle, electronic refurbishing platform GetMobil and three more investments that will be unveiled in due time.
We are immensely grateful for the support of returning investors including Chr. Augustinus Fabrikker, Novo Holdings, the Danish sovereign fund EIFO and climate Fund of Funds Carbon Equity and welcome new Limited Partners including Viessmann Generations Group, Security Trading Oy, Islandbridge Capital and the US-based Church Pension Group. Fund II had a final close of €210m backed by 34 individual LPs signalling a significant median commitment per investor and the deep institutional base we are lucky to have.
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We are thankful for the twenty seven transformational companies that have allowed us to be part of their voyage. From Miamisburg in Ohio to Halifax in Nova Scotia to São Paulo in Brazil and Istanbul in Türkiye, our founders are internationally dispersed and globally impactful. We are but enablers to their vision and ambition and hopefully helpful in our advice and counsel to make them better leaders and make their firms better companies.
Just as importantly, we want to thank the 2150 team who has joined us over the years, with their median tenure now close to 3 years. Each and everyone of them brings intellectual curiosity, amazing drive and mission-alignment into work every single day. Across our offices in London, Copenhagen and Berlin, the 17-strong team is driven by seeking to partner with the world’s leading founders to jointly tackle the world’s leading problems.
Today, as we announce the final close of Fund II, we also want to celebrate the voyage over the past four years that has allowed us to get here. The success of 2150 is defined by the founders that we back, by the Limited Partners that have been willing to support us, and by the amazing passionate team that has joined us.
Here is to celebrating the last 4 years of our voyage and here is to celebrating what might yet come in the next 20!
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About 2150
2150 is a venture capital firm investing in technology companies that are redefining cities and the industries that sustain them. Built on the belief that cities drive the majority of global prosperity and represent the greatest opportunity for sustainable progress, 2150 backs founders developing transformative solutions across energy, industrial decarbonisation, advanced manufacturing, mobility solutions, and urban systems. The firm partners with companies capable of delivering superior financial outcomes alongside measurable benefits for people and the planet. 2150 manages €500 million in assets under management and invests worldwide from its offices in London, Copenhagen and Berlin.
Find out more at www.2150.vc