Top performing Real Estate Tech Fund opening up their current Fund
Introducing a real estate technology-oriented venture fund that is focused on investments in software companies serving the $10+ trillion institutional real estate market with a highly thematic focus and purpose-built strategic platform for the multifamily and single-family rental industry. The Company is ranked as a top 3 US “proptech” VC by Private Equity Real Estate Magazine.
- Fund III has a target size of $200M (majority already closed)
- Existing Fund II investors have re-upped and in aggregate net increased their commitments to subsequent fund series (Fund III and ESG Fund)
- Fund III is 15% called and is already marked at 1.2x MOIC / 64% gross IRR (1.0x Net TVPI and 4% net IRR).
- Two new investments and two crossover investments made into two existing portfolio companies with the greatest upside potential
- Fund I closed at $109M and is currently at a 3.2x MOIC and 52% Gross IRR (2.9x Net TVPI and 38% Net IRR)
- Fund II closed at $167M and is currently at a 1.4x MOIC and 19% Gross IRR (1.2x Net TVPI and 10% Net IRR)
- ESG Fund targets investments in technology to help institutional real estate operators save energy, reduce carbon and resource footprints, make construction more efficient and improve housing affordability
- ESG Fund is at $43M and has made 6 investments