PropTech1 Ventures, the Berlin-based VC fund specifically targeting innovations with the real estate sector, has announced that their Fund I is now at 66% capacity with further closings planned by year’s end at the latest.
A source familiar with the matter puts the maximum volume of the fund at €50 million, thus PropTech 1 Ventures’ has nailed down €33 million to date.
Current investors in the fund include the investment arm of noventic group (one of Europe’s leading climate-intelligent management systems) and its shareholders, as well as several unnamed medium-sized real estate companies and entrepreneurs.
“In addition to our own R&D and M&A activities, PropTech1 offers us systematic access to excellent research regarding real estate innovation in Europe,” comments noventic group managing director Dr. Dirk Then. “We are impressed by the methodological quality as well as the deep knowledge around the technologies relevant to us. PropTech1 also offers an attractive financial return as another external pillar.”
Founded in 2018 by Anja Rath, Marius Marschall von Bieberstein, and Nikolas Samios, PT1 has made investments in nine companies to date, and count a number of former real estate company CEOs on its advisory board and venture partners.
In addition to a financial return, PT1 investors receive structured access to a growing database of real estate innovation in Europe and support for their own development projects.