The first close of Berlin-based PropTech1 Ventures Fund II, with a target size of €100 million, has been completed, according to the most recent news in the proptech market. The first closing raised €44 million, more than three times the amount raised in the first closing.
Along with the previously disclosed launch partners, including Commerz Real, BRUNATA-METRONA Group, several, JLL Spark Global Ventures, Liechtenstein Group, Otto Wulff, Scout 24 Group, and Supernova Group.
The Schörghuber Group, a family-owned business that owns Bayerische Hausbau and Paulaner Brewery among others, Halton Ventures, the owner of the Halton Group, a global technology leader for indoor air solutions for demanding spaces, and the novelty group, a pioneer in climate-intelligent real estate management, were among the other notable companies that participated in the first closing.
Additionally, many business owners and managers have contributed to this project, either privately or through their private investment vehicles. These investors include Birgit Rahn-Werner, CEO of Indevise Group, Thomas Zinnöcker, former Deputy CEO of Vonovia, and Thomas Wiegand, Managing Director of Cerberus Deutschland Beteiligungsberatung.
Due to the lack of natural resources, affordable housing, and skilled labor, the PT1 Early-Stage Fund II is already active and will invest in creative business owners from all around Europe who are confronting the major challenges of our time.
Startups in the early stages of the PropTech, ConstructionTech, and UrbanTech industries, as well as those operating at the nexus of the real estate sector and the energy and infrastructure asset sectors, are the main focus of PT1.
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Konstantinos Matsoukas and Klara Ritter, investment managers who have been a part of the team for a while, will be promoted to Associate Partners due to this expansion of PT1’s management team. Furthermore, Kingma Ma will serve as Managing Director of the London office, which opened its doors in 2022.
A very excellent starting position has been built for the second fund based on the experience from the 16 investments made out of Fund I and the more than 2,500 companies that have been examined thus far: The number of investment opportunities at PT1 has increased by more than 500% since the first fund’s launch. The team in charge of this has grown threefold, and the number of fund shareholders who can open doors for the portfolio companies’ customers and real estate portfolios has increased by more than six times.
In the current market climate, venture capital investors that concentrate on early-stage firms are finding enticing purchase prices in financing rounds, while the real estate industry is manifestly in need of innovation and sustainability at a level never before seen.
“We are grateful for the confidence of both our many new and current investors and are happy with the outcome of the first closure of our second fund. Anja Rath, the managing partner of PT1, says, “We respectfully consider this an acknowledgment for the work done by the entire team over the previous years and at the same time an incentive for the new year 2023.
“The real estate sector is faced with a variety of possibilities and problems. The trend toward green regulation is just beginning, and the rising number of climate emergencies will only support it. We are also becoming even more appealing to the top founding teams as the number of notable fund investors continues to rise. With Fund II, we look forward to being able to assist the subjects that we believe to be the most promising even more successfully, adds PT1 Managing Partner Nikolas Samios.
Image Credit: PropTech1 Ventures