Jacob Bro (2150): Closing a €210M Fund for Urban Climate Tech

Jacob Bro (2150): Closing a €210M Fund for Urban Climate Tech

Author: Hugo Rauch January 26, 2026 Duration: 36:45

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🌊 Building Cities Without Breaking the System

Why urban climate tech must be faster, better, and cheaper to truly scale.

We’re joined by Jacob Bro, General Partner at 2150, one of Europe’s most thoughtful urban climate investors, fresh off the close of €210m Fund II.

In this episode, we dive into what it really takes to fund the next generation of urban climate infrastructure, and why climate tech is no longer a “vertical,” but a defining layer of the global economy.

Jacob shares hard-earned lessons from Fund I, how LP expectations have evolved, and why sustainability only matters if the economics work.

In our conversation, we covered:

→ Why raising Fund II took longer, and why that’s actually healthy

→ What LPs are really worried about in today’s macro environment

→ Why “climate tech” is maturing into an economic reality, not a niche

→ The danger of business models that rely too heavily on regulation

→ Why team > idea, even in deep tech and Series A–C investing

→ How AI + energy + industry are colliding into a once-in-a-generation opportunity

→ Why 80% of global GDP, and emissions, are urban. And how to fix it.

→ When price matters in venture, and when it really doesn’t

Jacob also unpacks 2150’s evolving definition of urban climate tech, their growing exposure beyond Europe, and why emerging markets matter if you believe in future prosperity at scale.



This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Hugo Rauch hosts New Wave, a podcast that lives at the intersection of business ambition and scientific reality. This isn't about distant predictions or abstract science; it's a grounded exploration of the technologies and companies being built right now to address our environmental future. Each episode focuses on the practical journey, dissecting the models, the breakthroughs, and the hard decisions that define the climate tech landscape. You'll hear from founders, researchers, and investors who are actively shaping this space, getting into the specifics of what works, what doesn't, and why. The conversations move beyond hype to examine the tangible mechanics of creating viable solutions, from energy storage and sustainable materials to carbon removal and regenerative agriculture. It’s for anyone who thinks about the climate challenge not just as a crisis, but as a complex and urgent field of innovation. By tuning into this podcast, you gain a clearer understanding of the economic forces and scientific principles driving the next generation of environmental solutions. New Wave connects the dots between the lab, the boardroom, and the impact we need to see in the world, offering a sober yet optimistic look at where substantive progress is truly being made.
Author: Language: English Episodes: 89

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