Berlin-headquartered venture capital platform PropTech1 has unveiled a €30 million fund to back transformative real estate technologies. Fund II will focus on supporting sub-sectors of real estate innovation, which fall under the proptech, construction tech or urban tech category.
It will address major market trends such as the sustainable transformation of the real estate industry, its interplay with energy and infrastructure issues as well as the burning question of climate resilience.
The fund will support German startups in their internationalisation efforts in other European countries and European companies in their expansion into Germany and the U.K.
The company’s earlier Fund I, oversubscribed at €50 million in 2021, will now be followed by the second fund vintage with a target size of €100 million. The fund is expected to start operations after its first closing in early 2023.
The second fund has been backed by returning investors from Fund I such as BRUNATA-METRONA Group, evoreal, JLL Spark Global Ventures, Liechtenstein Group, Otto Wulff, Scout 24 Group and Supernova Group.
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