ABP a €529bn pension fund for Dutch public sector workers has teamed up with ETF Partners to invest in a software developer which aims to decarbonise real estate assets.
The investors have pledged €11.5m to Next Sense, an Amsterdam-based start-up which tracks the energy efficiency of commercial real estate such as offices and shops and uses artificial intelligence to develop more efficient uses of energy.
Next Sense will use the investment to scale its AI Smart Building platform globally. The firm already works with a number of large corporations, including Chanel, AXA Investment Managers and Microsoft.
The deal was conducted as part of ABP’s Energy Transition and Biodiversity Fund. ABP announced earlier this year that it has set aside €30bn to invest in the climate transition, including €10bn in impact investments with €250m put aside to invest in start-ups and scale-ups.
