Berlin-based PropTech1 Ventures has announced the final closing of its oversubscribed first fund at €50 million. As the name implies, PropTech1 Ventures is focused on investing in the European property and construction-focused startups that are working in the digitalisation, method modernisation, and sustainability/ESG sectors withinin the real estate industry. PropTech1 Ventures is active in seed, early-stage, and late-stage investments.
In early May of last year, PropTech1 Ventures announced that its first fund was at 66% capacity, or €33 million. In the following 8 months, the firm accrued an additional €17 million.
As the funds’ first insurance industry investor, Basler Insurance now joins existing investors including the investment arm of climate-intelligent management systems, noventic group, and adds additional international real estate companies and entrepreneurs from Austria, Norway, Germany, and Canada.
A sampling of these new investors includes Dr. Martin Hintze and Rainer Bormann, partners of Sector7 Investors, Austria's "Business Angel of the Year 2019", Markus Ertler, auritas Finanzmanagement CEO Paul Schaufler, angel investor and real estate entrepreneur Dr. Philip Wältermann (PWI GmbH), and Jon Øyvind Eriksen, founder of Norwegian deep tech investor Aidiom.
And if that weren’t enough, PropTech1 Ventures can now count a private investment vehicle from long-time managing director at various real estate private equity funds such as ARES and Cerberus, and former managing director of RREEF/ Deutsche Bank, Robert Červinka amongst its backers.
PropTech1 Ventures has invested in twelve companies since the beginning of 2018 including home renovation specialist Seniovo, furnished apartments finder Wunderflats, new construction project finder Building Radar, digital brain for smart buildings platform Thing-it, multi-family house moderniser ecoworks, and on-demand workspace network Desana.
"The first fund launched by PropTech1 already features a large number of international investors, who have created a network for us and our startups from Trondheim in the north of Norway to Sofia in the southeast of Europe, as well as between San Francisco in the southwest of the USA and Montreal in the northeast of the American continent," commented co-founder and managing partner Anja Rath.
Managing partner Nikolas Samios added, "We were also able to implement our initial plan of uniting as thematically diverse investors as possible in one fund. Thus, the spectrum ranges from real estate banks, global consultants, insurance and pension funds to numerous medium-sized real estate companies and top entrepreneurs. 2022 will now be all about the further expansion and support of our portfolio before we will subsequently look at the launch of further funds."