Eurazeo, global investment company headquartered in Paris, has announced the initial closing of its Smart City II Venture fund at €80 million (US$97 million).
The fund will invest in the most promising startups in the energy, mobility proptech and logistics industries worldwide, including Asia.
The investors of the fund II include longstanding partners and new ones based in Europe and Asia, such as carmaker Stellantis, electric utilities EDF and Mainova, public transportation operator RATP, energy major Total, logistics firm Duisport, and Thai real estate developer Sansiri.
The Smart City Venture team invests into innovative digital companies which are supporting rapid transformation of cities for the benefit of their residents: work from home, shared mobility, electric mobility, food delivery and the renewable energy transition.
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Up to 40 per cent of the fund will be invested in Asia.
Eurazeo’s first fund, Smart City I Venture Fund, has already made nearly 25 investments across Europe, Asia and North America. Its portfolio companies include Spanish last-mile logistics specialist Glovo, American provider of charging networks for electric vehicles Volta Charging, and Chinese autonomous mobility firm Weride.
Matthieu Bonamy, Partner at Idinvest Partners, a subsidiary of Eurazeo, said: “The Smart City Venture strategy aims to select and support the future global leaders in each of their sectors thanks to an expertise in our investments themes and a selectivity rate at the level of the best generalist funds.”
“The fund benefit is also extra-financial as we support entrepreneurs who take decisive action to reduce carbon emissions and enable the development of more inclusive and resilient cities. This is crucial today as cities consume 78 per cent of the world’s energy and produce more than 60 per cent of the world’s greenhouse gases,” Bonamy added.
Eurazeo is a leading global investment company with a diversified portfolio of €18.8 (US$23) billion in assets under management, including €13.3 (US$16) billion from third parties, and has invested in over 430 companies.
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With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth.
Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
Image Credit: Eurazeo
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