GreenSoil Investments today announced the launch of its third fund, the GreenSoil Building Innovation Fund (GBIF), with an initial close of US$25 million. Led by a team of real estate investors and owners, investment professionals, and green building experts, GBIF will invest in companies that generate returns for real estate owners, operators, and developers through innovation, smart resource utilization, and efficiency improvements. The Fund is targeted to reach US$80 million to $100 million at final closing.
Founded by Alan Greenberg and Gideon Soesman in 2011, GreenSoil Investments now has US$56 million in assets under management, and GBIF is backed by LPs that control over 200 million square feet of income producing real estate and build over 15,000 homes and apartments per year.
“Real estate is the world’s largest asset class and consumes an enormous amount of resources and manpower,” says Alan Greenberg, co-founder and chairman, GreenSoil Investments. “Rising utility prices, regulatory requirements, asset ownership consolidation, and tenant/buyer awareness are all driving the need for innovation to improve productivity and deliver growth to the bottom line.”
GBIF will make majority or strategic minority investments in companies that require capital for growth. According to Jamie James, Chief Innovation Officer, GBIF will initially focus on investments in North America, focusing specifically on these key investment verticals:
- Smart Systems: Companies that make buildings more responsive in the dynamic environment of the evolving Smart Grid and device interconnectivity.
- Resource and Workflow Optimization: Companies that help building owners reduce natural resource and energy consumption, enable clean energy generation, and enhance decision-making, task management and collaboration for operators, managers, and executives.
- Advanced Materials: Companies that manufacture products with value-added attributes for construction and building components.
- Enabling Business Models: Companies with supply chain or distribution channel advantages or able to facilitate adoption of innovations through unique service or financing propositions.
Target portfolio companies will mainly offer solutions pertaining to metering and monitoring; software; building automation and control; HVAC and air quality; efficient lighting; consulting and integration; enabling technologies; and, construction materials and systems.