Launched as a new company and funded with outside capital in its initial Series A capital raise, SIP’s initial anchor partners include Alphabet (Google’s parent company), OTPP, and Sidewalk Labs.
To realize its vision, SIP aims to draw on the expertise, strengths, and formidable resources of its relationships and partners, to support SIP with their capital, capabilities, and commitment to forward-thinking infrastructure. In particular, to identify opportunities and more deeply understand the full potential of technology’s ability to fundamentally transform the future of infrastructure, SIP seeks to benefit from the combination of Alphabet’s leading technologies and engineering expertise and OTPP’s decades’-long infrastructure investment experience and sizable current portfolio. In addition, though SIP is a separate independent company from Sidewalk Labs, SIP’s shared heritage with Sidewalk Labs allows it to coordinate with the Sidewalk Labs’ team and utilize its urban innovation ecosystem and pipeline of unique opportunities.
Owners of innovative businesses seeking to apply technology to infrastructure today often lack a good source of financing: the use of venture capital may be too dilutive or restrictive, and banks may not lend against technology viewed as speculative without the exorbitant cost. SIP is uniquely structured to allow it to take a long-term and open-ended approach to the realization of strategic goals and support technology companies’ growth.
Owners and operators of infrastructure assets today may not be engaged with technology developers who can help to position their assets toward the future — and may be reluctant to undertake commercial risks associated with the deployment of new technologies. SIP believes technological applications can enhance the utilization, efficiency, and flexibility of a traditional asset base, ultimately supporting higher-value and more sustainable long-term operations. For owners of infrastructure assets, SIP can serve as a forward-thinking partner to explore the application of technology to future-proof and enhance infrastructure assets.
Municipal authorities and public agencies responsible for operating and maintaining the essential infrastructure systems underpinning their communities may have access to limited funding to undertake much-needed improvements or may lack the flexibility to take on risk or feel ill-equipped to assess the impacts of accelerating application of technology to infrastructure. SIP believes supporting safe, well-maintained and technology-enabled infrastructure systems is essential to improving quality of life and economic opportunity for urban residents. Its leadership team has experience in structuring productive partnerships with public entities to support and expand economic activity. SIP can help public sector authorities to evaluate and fund innovative solutions for critical infrastructure systems.