Berlin-based PT1 – PropTech1 Ventures, a venture capital firm for real estate technologies, announced on Wednesday the first close of its Fund II at €44M, with a target of €100M.
The German VC says that the fund’s first close is more than three times the volume of the first closing of the first fund.
The investors who backed the fund include
- Commerz Real
- BRUNATA-METRONA Group
- evoreal
- JLL Spark Global Ventures
- Liechtenstein Group
- Otto Wulff
- Scout 24 Group
- Supernova Group
- Helaba (the Landesbank Hessen-Thüringen)
- Schörghuber Group
- Halton Ventures
- noventic group
Additionally, several entrepreneurs and top managers have also invested, including Thomas Wiegand (Managing Director of Cerberus Deutschland Beteiligungsberatung), Thomas Zinnöcker (former Deputy CEO of Vonovia and ex-CEO of ista Energiedienstleistungen), Birgit Rahn-Werner (CEO of Indevise Group) and many more.
“We are very pleased with the result of the first closing of our second fund and grateful for the trust of our existing as well as numerous new investors. We humbly consider this a recognition for the work done by the entire team over the past years and, at the same time, an incentive for the new year 2023,” comments PT1 Managing Partner Anja Rath.
PT1 – PropTech1 Ventures Fund II
With Fund II, PT1 – PropTech1 Ventures plans to invest in entrepreneurs across Europe who tackle the challenges created by the increasing scarcity of natural resources, affordable living space, and skilled labour.Â
PT1’s focus is on early-stage PropTech, ConstructionTech, and UrbanTech startups, also at the intersection of the real estate industry with the energy and infrastructure asset classes.
The VC will write a cheque between €0.5 and €3M as an initial investment.
The VC has also promoted investment managers Konstantinos Matsoukas and Klara Ritter, who have been part of the team for several years, to Associate Partners.
With Fund I, the company has made 16 investments. Compared to Fund 1, the VC says it has increased its deal flow by more than 500 per cent, the team responsible for this has grown threefold, and the number of fund shareholders has increased sixfold.
“The real estate industry is facing multiple challenges and opportunities. Green regulation is just off the ground, and the increasingly frequent climate incidents will only reinforce this trend. At the same time, with continued growth in the number of prominent fund investors, we are becoming even more attractive to the best founding teams. We are very much looking forward to being able to support what we see as the most promising topics even more effectively with Fund II,” adds PT1 Managing Partner Nikolas Samios.
