The independent venture capital platform for transformative real estate technologies PropTech1 (PT1) is starting fundraising for Fund II.
Thanks to the renewed participation of numerous investors from the first fund as well as well-known new investors, the minimum threshold for a first closing totaling €30 million has initially “been reached on the basis of commitments and expressions of interest.” The fund is scheduled “to start operations at the beginning of 2023.”
Fund I, which was oversubscribed at €50 million in 2021, will now be “followed by the second fund vintage with a target size of €100 million.”
Based on the experience from the current 15 investments of Fund I and well over 2,000 analyzed companies from the real estate innovation sector to date, the VC investor is “following its previous approach, which has been further developed in some sub-aspects.”
Thematically, Fund II will also “follow the approach of covering a ‘best-of’ of the sub-sectors of real estate innovation, which are often classified in the market under the terms PropTech, ConstructionTech or UrbanTech, and will in particular 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.”
Already in an early sounding, the second fund vintage of PT1 “met with a lively response and can thus report more than 20 commitments and expressions of interest (some still soft commitments, subject to review steps or board decisions) totaling €30 million.”
With a planned minimum threshold of €30 million, “a first closing and thus the operational start is therefore planned for the beginning of 2023.”
The first, so-called launch partners of the second fund “include numerous returning investors from Fund I as well as many new companies and entrepreneurs.”
PT1 Fund II is “expected to start operations after its first closing in early 2023, after Fund I has successfully completed its initial investment phase.”
PT1 will “take on additional investors beyond the launch partners until the target size is reached.”
From the perspective of founders and portfolio companies, PT1 offers “a strengthened range of added value in addition to growth capital with the second fund and the operationally expanded team at the Berlin (HQ) and London locations as well as the regular presence in the European focus regions Nordics, Benelux and France.”
Thus, through its broad network, PT1 can support German startups in their nternationalization efforts into “other European countries as well as European companies in their expansion into Germany and the UK.”
Through the multi-layered expertise of the investors from the real estate and digital division, PT1 continues “to open access to a variety of customer bases and real estate portfolios and facilitates the acceptance of the young startups in the market through various marketing channels and events.”
For more details, check here.