130 million euros for the city of the future

The 2150 Fund aims to invest in tech startups that address the challenges facing cities. Now it's announcing its first closing.

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

The focus of the fund is to be on tech start-ups that want to sustainably transform and rethink urban space. In the long term, the aim is to build a portfolio of 20 companies. The fund wants 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 CO2 footprint of concrete.

The investors in the closing come from different industries, and three of them are from Denmark. For example, the Danish government's Green Future Fund, investor Novo Holdings and former tobacco manufacturer Chr. Augustinus Fabrikker, which now operates as an investment company, are in the deal. Several European companies and property owners are also on board.

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