Why climate tech isn't dead

In conversation with our very own Andreas Munk Holm, Christian Hernandez, founding GP of 2150 and Jan Hofmann of the Viessmann Generations Group, look at how climate investing is moving from narrative to industrial reality, where cities, energy, materials, and manufacturing become venture-scale markets, and execution matters more than slogans.

Today, 2150 officially launched its €210M second fund, bringing total assets under management to €500M and reinforcing its position as one of Europe’s leading investors backing the technologies shaping future cities and industrial systems.

Fund II reflects growing institutional conviction in 2150’s thesis: that cities generate around 80% of global prosperity, and that the next wave of venture-scale outcomes will come from making urbanisation and industrial activity sustainable at planetary scale. The fund attracted a diversified LP base across Europe, Asia, and North America, including Viessmann Generations Group, Novo Holdings, EIFO, Chr. Augustinus Fabrikker, Carbon Equity, and Church Pension Group.

Momentum is already underway. 2150 Fund II has already invested into seven companies, including AtmosZero, GetMobil, Metycle, Mission Zero Technologies and three further unannounced deals. Across both funds, 2150’s 27 portfolio companies generate more than $1B in annual revenue, employ 4,500+ people globally, and deliver megatonne-scale climate impact.

Key takeaways:

• Urban and industrial systems are now venture-scale markets.
  Energy, cooling, industrial heat, mobility, materials, and circular economy solutions are no longer niche climate bets — they are core infrastructure categories with global demand.

• Impact and returns are converging.
  2150’s portfolio demonstrates that companies tackling planetary-scale problems can also generate outlier financial outcomes, measured in real revenues, jobs, and deployment at scale.

• Institutional capital is leaning into climate infrastructure.
  The breadth of Fund II’s LP base signals a shift: long-term institutions are increasingly backing strategies that combine sustainability with durable, industrial cash flows.

• Execution matters more than narratives.
  2150’s analytical, problem-first approach targeting the hardest bottlenecks in cities and industry is translating into faster scaling and earlier commercial traction across the portfolio.

• Europe can build global category leaders.
  With platforms spanning energy, materials, and urban systems, 2150’s portfolio shows that European-founded companies can scale globally without compromising ambition.