Venture firm 2150 has successfully completed the final close of its second fund, securing $248 million to advance sustainable urban and industrial technologies. This achievement brings the firm's total assets under management to $591 million, reinforcing its commitment to backing founders who are reshaping critical sectors. The successful fundraise stands out in a challenging market, signaling strong investor confidence in 2150's focused strategy and proven track record.
Securing Capital in a Challenging Climate
In a difficult fundraising environment for climate-focused funds, 2150's success was anchored by the continued support of its initial investors. Co-founder Christian Hernandez emphasized the importance of securing recommitments from the large institutional backers of their first fund. This continuity provided a stable foundation and demonstrated enduring belief in the firm's vision and operational capabilities.
Beyond its existing partners, 2150 attracted a diverse group of new international investors by demonstrating a tangible operating history. The firm proved its ability to source and win competitive deals, building a transatlantic portfolio with companies now operating at significant scale. This validation was crucial for bringing in new LPs, including its first major US institutional investor, the Church Pension Group.
A Transatlantic Strategy for Scalable Solutions
The firm maintains its core investment thesis, focusing primarily on Series A stage companies with a transatlantic scope. 2150 seeks out startups that have a tangible product, initial pilot deployments, and a complete leadership team ready for scaling. This strategy allows them to invest in solutions that can have an immediate impact, rather than purely conceptual technologies.
A key element of 2150's philosophy is its focus on fundamental economics rather than relying on a "green premium." The firm backs technologies that are commercially competitive, offering solutions that are cheaper, faster, or more efficient than incumbent alternatives. This pragmatic approach ensures the portfolio's resilience and ability to scale without dependence on subsidies or shifting regulatory landscapes.
Recognizing the capital-intensive nature of industrial tech, 2150 emphasizes the importance of accessing non-dilutive financing from an early stage. Its portfolio companies have successfully attracted an additional $0.88 in debt and other financing for every euro of venture capital raised. This financial discipline is critical for funding factory build-outs and working capital, enabling hard tech solutions to scale effectively.
Driving Impact with a Focused Mandate
Underscoring its commitment to measurable impact, 2150's second fund is structured under the EU's stringent Article 9 SFDR classification. This "dark green" designation requires every investment to have a clear and reportable positive environmental or societal impact, preventing greenwashing. This regulatory framework aligns perfectly with the firm's mission to finance technologies that actively contribute to planetary health.
The new fund is already being deployed into promising companies tackling major industrial challenges, including AtmosZero, Metycle, and Mission Zero Technologies. These investments reflect the firm's focus on key sustainability themes such as industrial heat electrification, circular economies, and direct air capture. Looking ahead, 2150 has identified cooling and water management as other critical areas for future investment.
The final close of 2150's $248 million second fund marks a significant milestone, solidifying its role as a leading investor in the climate tech sector. With a total of $591 million in assets, the firm is well-positioned to continue its mission of transforming cities and industries into engines of sustainability. This new capital will accelerate the growth of innovative companies whose solutions are vital for building a resilient and economically viable future.