Cities are key in solving climate change and 2150 has launched a €210 million fund to invest in solutions targeting urban challenges.
San Francisco: 2150 is a venture capital firm focused on cities to help with climate change. Jacob Bro, a co-founder, believes cities gather resources and create both good and bad impacts. They produce 70% of emissions and use a lot of resources.
While many funds seek returns and carbon cuts, 2150 looks for city problems and chances for investment. Bro says sustainability can also be better for business. Right now, they’ve raised €210 million from various big investors, adding to €500 million total.
So far, they’ve invested in seven startups like AtmosZero, which makes heat pumps, and GetMobil, which recycles e-waste. They plan to invest in 20 companies, mostly in early funding rounds with checks of €5 million to €6 million.
They are especially interested in data centers and automation thanks to the rise of AI. Bro notes that cities rely heavily on industries. The firm’s investments have helped reduce one megaton of carbon emissions last year, showing their impact in a short time.