Alphabet Inc. and its Sidewalk Labs LLC unit teamed up with Ontario Teachers' Pension Plan Board to launch an infrastructure holding company, Sidewalk Infrastructure Partners, The Wall Street Journal reported Aug. 29.
The new entity, which will be spun out of Sidewalk, will focus on investing in what the group calls technology-enabled infrastructure, the partners reportedly said.
Sidewalk Infrastructure Partners will use the funding from the three partners to invest in advanced mobility, energy, water and waste, digital infrastructure and social infrastructure.
The infrastructure holding company will focus on projects that require more than $100 million of equity, sources said.
