130 million euros for the city of the future

The 2150 fund aims to invest in tech start-ups that tackle the challenges facing cities. It has now announced its first closing.

Promoting the city of the future will one day be the goal of Fund 2150, founded by the Northern European real estate platform NREP. In addition to its offices in London and Copenhagen, it has now also opened one in Berlin and can also announce its first closing: 2150 raised 130 million euros within six months. That is a third of the target volume of 200 million euros.

The fund will focus on tech start-ups that want to sustainably transform and rethink urban space. In the long term, the aim is to build up a portfolio of 20 companies. The fund plans to invest up to 40 million euros per company, and the first start-up is already on board: Carboncure Technologies from Canada wants to reduce the carbon footprint of concrete.

The investors in the closing come from various sectors, three of them from Denmark. They include the Danish government's Green Future Fund, the investor Novo Holdings and the former tobacco manufacturer Chr. Augustinus Fabrikker, which now operates as an investment company. Various European companies and real estate owners are also on board.

Jacob Bro, partner and co-founder of 2150, explains what unites the investors: "Cities are complex systems: they are constantly expanding, evolving and adapting," and continues: "We want to completely reshape urban space through technology and change it for the better."