Eurazeo announces the final closing of its Eurazeo Smart City Fund II1 at €400m exceeding the initial target.
Altogether 5 sovereign wealth funds and development institutions, EIF, Bpifrance, PFR, F.R.C and KVIC, joined by 18 corporations in Europe and Asia support the new fund. These include strategic investors in Europe, EDF, TotalEnergies, Stellantis, Hager Group, ZF, RATP, Mainova and SWK AG, Duisport, who are joined by several more in Asia: Banpu, Momentum Venture Capital (SMRT), SP Group, Jardine Pacific, IMC PanAsia, Sansiri and SCG.
This fund is dedicated to new technologies and digital innovation for sustainable cities, targeting the key sectors of the low-carbon economy: renewable energy, advanced mobility, logistics, manufacturing and the built environment. The team invests in a majority of companies with verifiable environmental impact primarily in Europe but also beyond in Asia, Israel and North America.
Smart City Fund II is already active with first impact investments in climate tech and sustainability. These include 1Komma5° (carbon-neutral residential solutions and power services in Europe), Electra (fast-charging network electric vehicles in France, Italy, Benelux), Swapp (AI-powered construction documents) and Urban Chain (peer-to-peer renewable energy exchange platform in the UK).
Matthieu Bonamy, Partner at Eurazeo and Head of the Smart City Fund II, shares:
« 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. »
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