After raising €250 million and announcing the launch of its first fund in 2020, London-based A/O PropTech is back with its second iteration, now with a first close of €100 million of a targeted €250 million.
The firm is looking to back startups in seed to Series B rounds hailing from the UK, Continental Europe, and North America. Ticket sizes are expected to range between €3 million and €8 million, with reserves allotted for follow-on investments.
As to be expected, seed/late seed rounds will be at the bottom end of the €3 million to €8 million range, with Series B stages at the opposite higher end. Earlier stage investments are expected to have higher reserves percentage versus Series B rounds.
A/I PropTech is looking to invest in startups working across the entire scope of the built world including supply chain, new materials, AEC (architecture, engineering, and construction), building operations and management, targeting decarbonisation, climate resiliency, electrification and energy transition, digitisation, automation and big data management through a mix of software, hardware, deeptech and AI.
No word was provided as to how many investments the firm intends to make with its second fund, however, from its first vehicle, 22 startups received funding including Satellite Vu and Plentific.
“A lot of the attention on climate change appears to remain somewhat misdirected, creating a false impression that we can solve climate change simply with meatless burgers or paper straws or carbon credits. We can’t,” says the firm’s founder and CIO Gregory Dewerpe. “That doesn't mean those initiatives are not important, but rather that they are, in our view, not decisive or impactful enough, at a time of great urgency when we are potentially years away from being caught irreversibly offside. We must focus our time, resources, and attention on what truly moves the needle now. Onwards and upwards.”
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