Investment company Eurazeo has successfully concluded the final closing of its Eurazeo Smart City Fund II, raising €400 million, surpassing its initial target.
Eurazeo said its Eurazeo Smart City Fund II aims to foster new technologies and digital innovations that contribute to sustainable cities. It specifically targets key sectors in the low-carbon economy, encompassing renewable energy, advanced mobility, logistics, manufacturing and the built environment.
The fund aims to invest predominantly in companies with a verifiable positive environmental impact, focusing on Europe and expanding its scope to include Asia, Israel and North America.
Already in action, Smart City Fund II has made its first impact investments in climate tech and sustainability ventures. These companies include 1Komma5°, Electra, Swapp and Urban Chain.
The fund garnered support from various sovereign wealth funds, development institutions and corporate investors in Europe and Asia.
The fund’s investors include five sovereign wealth funds and development institutions, namely EIF, Bpifrance, PFR, F.R.C and KVIC, alongside 18 corporations from Europe and Asia.
Among the European strategic investors are EDF, TotalEnergies, Stellantis, Hager Group, ZF, RATP, Mainova and SWK AG, Duisport. The Asian contributors comprise Banpu, Momentum Venture Capital (SMRT), SP Group, Jardine Pacific, IMC PanAsia, Sansiri and SCG.
Matthieu Bonamy, partner at Eurazeo and head of the Smart City Fund II, said: “We are grateful for the renewed trust of our existing partners and to be joined by so many new institutional, corporate investors and family offices in Europe and beyond. We are excited to back more pioneering companies supported by an expanded investment team. “
© 2023 funds europe
