Concrete Ventures directs £ 86m to proptech investment fund

Investor Proptech Concrete Ventures is looking to raise € 100m (£ 86m) to invest in proptech Tier A start-ups in Europe, the Middle East and Africa.

Concrete Ventures declined to disclose how much of the fund they have raised to date, but told UKTN that when it achieves its target it will make seed investments of € 100,000- € 500,000 (£ 85,000- £ 429,000) and Tier A investments of € 1m- € 3m (£ 859,000- £ 2.5m).

The firm’s previous investments in the UK include building sensor maker Infogrid, property development company LandTech and artificial intelligence (AI) property manager Adam.

“The real estate sector is entering a new age of technological innovation where winners and losers will be created because of their ability to adapt and survive or thrive,” said Arnaud van der Wyck, general partner, Concrete Ventures.

Over the last four years, Concrete has invested over € 20m (£ 17m) for Starwood Capital Group and JLL Spark in 20 start-ups across Europe.

Best year ever for UK proptech

Headquartered in London, Concrete is partnered with the likes of JLL Spark, Starwood Capital, Nuveen Real Estate, Greystar, SEGRO, and Kings Cross Central Limited Partnership. Together, they manage € 450bn (£ 386bn) of assets.

“Technological innovation has finally landed on the shores of the world’s largest asset class. Concrete works with its best-in-class property partners and visionary start-up founders to trace stronger pathways into this exciting 10-20 years of built environment transformation, ”said Taylor Wescoatt, general partner of Concrete Ventures.

Concrete fund continues a fantastic year for proptech investment in the UK, with start-ups attracting £ 1.6bn.

Proptech startups continued to raise more capital this year, with IMMO property investment platforms Raise £ 57m and Shojin a £ 3m round of closures, both in April.

More proptech startups are rising through the ranks, with nine firms recently completing Pi Lab accelerator program and going on to raise £ 15m together.



Concrete Ventures directs £ 86m to proptech investment fund

Source link Concrete Ventures directs £ 86m to proptech investment fund

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