Est. 2019 as A/O (rebranded noa), London-based. Europe's largest built-world VC. Fund I (€250m, 2020): 22 investments incl. Plentific, Span, PassiveLogic, Satellite Vu, Voliro. Fund II targeting €250m (€100m close July 2023). ~13-person team led by Gregory Dewerpe (ex-Credit Suisse, Citigroup). Exits attracted Coatue, Target Global, Brookfield, Wellington, Nvidia. WEF Global Innovators member (2020).
Investment Focus
Investment Thesis
Built-world decarbonization across full lifecycle (supply chain, design, construction, operations, energy transition). Series A-B focus €3-8m. 70% sustainability mandate: green materials, building automation, energy mgmt, thermal analytics, retrofit, climate resilience. Digital transformation & automation via AI/IoT. Pan-Europe + North America. Unique LP access: €40bn+ real estate assets for testing, pilots, scaling. Permanent capital model. Avoids pure residential.
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