Real Estate Technology Ventures has closed its first fund on $108m of commitments to invest in real estate technology companies.
The Utah-based firm will tap the fund to invest in PropTechs serving the multifamily industry in North America.
The vehicle has been backed by a number of real estate investment trusts including Aimco, Boardwalk, Essex, MidAmerica, UDR as well as investors Starwood Capital Group, Cortland and GID.
RET Ventures is led by former DN Capital venture partner John Helm.
“Our expansive network of major multifamily operators and access to capital offers clear benefits to both entrepreneurs and investors,” said Helm.
“RET Ventures seeks to identify innovative companies founded by strong entrepreneurs that will help our LPs better operate their portfolios.
“Our deep industry expertise and relationships with some of the largest and most innovative operators in the industry can help these companies grow rapidly and achieve category leadership.”
Most recently, RET Ventures led a $5m Series A round for smart apartment automation business SmartRent.
Copyright © 2018 FinTech Global