Change is never easy, and the construction and property industry hasn’t exactly been the fastest when keeping up. To help accelerate new adoptions, as well as attract more entrepreneurship in the field, Liège, Belgium-based Rise PropTech has launched a €20 million fund.
Founded by Frédéric Driessens, Gaëtan Baudelet, and Jérôme Constan, the fund has already closed €12 million, with participants including Abacus Group (Matexi), Ardent Invest, Balteau Group, Eloy Group, the Knauf family, the Moury group, Noshaq Immo, and Uhoda Group, with the cap set at €20 million.
The fund is reporting that they’ll be seeking to invest in 10 late seed and Series A proptech startups in the Benelux, DACH, and France regions, with numbers ranging from €500,000 up to €3 million. Of particular interest are areas of AI, intelligent buildings, big data, the circular economy, sustainability, IoT, construction tech and processes, and property management tools.
“The construction and property sectors have a major environmental and social impact, which affects us all in our everyday lives. We want to invest in these startups which take these consequences into consideration when developing their solutions,” comments fund partner Frédéric Driessens.
In line with “what founders want,” Rise PropTech is promising not only capital but performance and commercial growth mentoring. The fund is reporting to leverage its vast construction and property sector network to provide a USP.
“We give the startups in our portfolio an opportunity to gain direct access to decision-makers in the sector in order to test, improve and marketing their solutions more rapidly and effectively,” adds partner Jérôme Constant.