Investor profile
noa (formerly A/O Proptech)
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noa (formerly A/O Proptech) is Europe's largest venture capital firm dedicated to the built world, investing in pioneering founders and breakthrough technologies that decarbonise and digitise the physical infrastructure, spaces, and systems that support human life and economic activity. The firm targets real estate, construction, energy, mobility, and related systems — sectors responsible for nearly 40% of global carbon emissions — believing the built world is 'humanity's OS,' a foundational layer that dictates how we interact with the world around us. noa operates with a permanent capital structure (€250M+ AUM across two funds) enabling patient, long-duration investing from Pre-seed through Series B+. It partners with a network of strategic LPs and asset owners — including Grosvenor UK — to give portfolio companies access to incumbents and industry-scale opportunities, galvanising the built world to adopt transformative technologies that solve mission-critical problems for future generations.
Notable quotes
“It's high time we accepted the reality that climate diplomacy won't succeed in getting us to net-zero. Instead, we need to focus on investing time, energy and resources into solutions that actually deliver a more sustainable economy. It's time to bring pragmatism to the table by unleashing technology where it matters, to enable a cleaner, more resilient and more productive economy.”
“No area needs attention more urgently than our built world. Real estate, as the world's largest asset class, is responsible for almost 40% of global carbon emissions, and its emissions far exceed those of transport (including aviation). We cannot transition — let alone thrive — as a society unless we invest in decarbonizing the built world.”
“Building noa (formerly A/O) represents the culmination of decades of life experiences, ambition and challenges. It connects the dots between my background in finance, my entrepreneurial spirit, and my lifelong passion for nature and the planet.”
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| PassiveLogic | Series C | $74m | 2025-09-01 |
| Venn | Series B | $52m | 2025-11-01 |
| Satellite Vu | Series A | $21m | 2021-10-01 |
| Plentific | Series B | $32m | 2021-01-01 |
| SPAN | Series B | — | 2022-01-01 |
| Climate X | Series A | $18m | 2024-06-01 |
| VARM | Seed | $6m | 2024-07-01 |
| Nala Earth | Seed | $4m | 2025-01-01 |
| Noda | Series B | $13m | 2024-04-01 |
| Voliro | Debt Financing | — | 2025-06-01 |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Pale Blue Dot | 4 |
| Northzone | 3 |
| Foundamental | 2 |
| Atomico | 2 |
| Seraphim Space | 2 |
| Ridgeline Partners | 2 |
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