Berlin-based VC firm PropTech1 is setting up shop in London, opening its first office outside of the German-speaking region of Europe. The firm claims to be the first European VC focused entirely on real estate and hopes to position itself as the ideal partner for British proptech startups looking to break into the mainland.
The London office will serve as the homebase for PropTech1's expansion in the UK, led by senior associate Jan Gierkes.
PropTech1 describes its structure as the “best of three worlds,” with specialists in venture capital, digital entrepreneurship, and real estate. The firm’s shareholders are comprised of leading European real estate corporations, medium-sized real estate companies, and entrepreneurs. It invests in all corners of the proptech sector, following portfolio companies from seed to growth, with initial cheques of €200,000 and €3 million.
In addition to the new UK office, the firm plans to open new bases in other promising European regions, though none have been mentioned specifically.