Copenhagen-based venture capital firm KOMPAS Ventures announced that it has launched a $160M (approx €141.9M) early-stage fund. It is specifically looking to back US, European, and Israeli startups in the real estate, construction, and manufacturing sectors aiming to reduce waste and CO2 emissions.
KOMPAS, which invests at Seed and/or Series A rounds, expects to provide a typical ticket size that would range anywhere between $1M (approx €886K) to $5M (approx €4.4M).
It is an early-stage venture capital firm that claims to back breakthrough innovations to accelerate the digital transformation and industrial automation across the built environment. It invests in prop tech, construction tech, climate tech, industry 4.0, and enterprise software.
The company said in a statement that “We partner with exceptional founders who develop novel solutions for smart manufacturing, connected living and workspaces, sustainable building methodologies and materials, the elimination of carbon emissions and waste, and the digital enterprise.”
The recent fund will back ambitious founders in the following three areas:
- Smart, sustainable and healthy homes: advanced materials, smart home technology, IoT and climate technology
- Business model and service innovation in real estate and construction: solutions for lifecycle asset optimisation, architecture and building design, construction methods, and improving customer experience
- The digital enterprise: industrial automation, digital supply chain management, cyber security, enterprise software, and the circular economy
The firm has already invested in Colorado-based dynamic window company Tynt Technologies.
Managed by Partners Sebastian Peck and Talia Rafaeli, the fund’s strategy is driven by increasing regulatory pressure to reduce CO2 emissions, and the emerging desire for a greener built environment.
Speaking on the development, Sebastian Peck, a partner at KOMPAS, says, “Tackling the existential threat of climate change requires us to think differently about how we design and build our future cities, commercial buildings and residential homes.”
“Today, 39 per cent of the global CO2 is emitted by the building sector and 30 per cent of the waste generated in Europe stems from construction and demolition. To meet its environmental obligations, the sector needs to change radically, which represents tremendous opportunity for technological innovation and new business models. Our goal is to deliver top quartile financial returns by backing founders who will have a real impact on our industry,” he added.