Global investment firm Eurazeo has announced it has hit the final close of Smart City Fund II at EUR400 million (US$450 million), exceeding its EUR200 million initial target.

Smart City Fund II, managed by Eurazeo, focuses on new technologies and digital innovation for sustainable cities. It targets key sectors of the low-carbon economy, including renewable energy, advanced mobility, logistics, manufacturing, and the built environment. The fund has already made impactful investments in climate technology and sustainability, supporting projects like Electra (a European EV charging network) and Urban Chain (a peer-to-peer renewable energy exchange platform in Britain). With offices in various global cities, Smart City Fund II embraces the rise of smart mobility, smart buildings, IoT, and the increasing demand for green energy solutions in urban environments.