Climate VC 2150 closes €210M second fund, hits €500M in assets under management

Climate investing is entering a new phase, and climate VC 2150 wants to be one of the firms shaping what comes next.

The European venture capital firm announced Monday that it has closed its second fund at €210 million, lifting total assets under management to €500 million. The close marks a major milestone for a firm that launched just four years ago with a focused bet on technologies built for cities and the industrial systems that keep them running.

Fund II brings in a wider group of backers from Europe, North America, and Asia, including Viessmann Generations Group, Novo Holdings, Chr. Augustinus Fabrikker, EIFO, Security Trading Oy, Islandbridge Capital, Carbon Equity, and U.S.-based Church Pension Group. The mix signals a growing institutional appetite for climate investments tied to infrastructure, industry, and urban growth rather than consumer-facing sustainability plays.

VC 2150 raises €210M for Fund II as portfolio tops $1B in annual revenue

Since launching its first fund in 2021, 2150 has built a portfolio of 27 companies working across energy, industrial heat, cooling, cement, biodiversity monitoring, mobility, critical minerals, and circular economy systems. Those companies now report more than $1 billion in combined annual revenue and employ over 4,500 people worldwide. Climate impact is measured at the megatonne scale, according to the firm.

The thesis behind the fund is blunt. Cities generate roughly 80% of global economic output. They account for a similar share of emissions. If decarbonization is going to happen at speed, it will need to pass through concrete, steel, heat, energy, logistics, and dense urban systems. 2150 was built to back founders working inside those constraints.

Fund II is already active. Investments include AtmosZero, which builds electrified industrial heat pumps; the refurbished-electronics marketplace GetMobil; the metals-recycling and trading platform Metycle; and the direct air capture company Mission Zero Technologies. Three additional deals remain undisclosed.

Christian Jolck, co-founder and partner at 2150, framed the close as validation of both execution and focus.

“Four years after unveiling 2150 we have raised €500m, invested into 27 companies and mitigated over a megatonne of CO2e per year. Our exceptional founders are building companies of scale with an aggregate revenue of over $1 billion and over 4,500 employees. For Fund II, we have continued to partner with leading institutional investors across Europe, North America, and Asia, and who have invested in this category for multiple cycles. This combination gives us strong conviction in 2150’s ability to deliver attractive long-term returns and a long-standing investment platform.”

The firm’s earlier bets include pan-European home energy platform 1Komma5º, e-mobility leasing and battery-swapping network Vammo, and ultra-efficient cooling company Blue Frontier. Those investments helped establish the firm’s reputation for backing capital-intensive climate technologies that sit closer to infrastructure than software.

2150 is led by Jacob Bro, Christian Jolck, Rahul Parekh, and Christian Hernandez, with a 17-person team split across London and Copenhagen. The firm invests globally, with offices in London, Copenhagen, and Berlin.

As climate capital shifts from experimentation to scale, funds that can show revenue, jobs, and measurable impact are starting to stand apart. With €500 million now under management, 2150 is positioning itself as one of the firms aiming to build climate businesses that look less like side projects and more like the next generation of industrial companies.