PropTech1 Ventures expands into the UK
PropTech1 Ventures will open an office in London. From there, the venture capital fund intends to expand its investment activities into the United Kingdom.
PropTech1 Ventures describes itself as the first venture capital fund to focus on the real estate industry in Europe. Following the company's headquarters in Berlin and branches in Munich and Zurich, it is now adding an office in the United Kingdom.
The fund wants to invest in British PropTech startups that are planning to enter the European mainland market, the fund writes in a statement. At the same time, it wants to be a contact for investors who are looking for such a partner in the financing syndicate.
The focus is reportedly on all sub-segments of the PropTech sector with ticket sizes between €200,000 and €3 million as initial investment. PropTech1 sees itself as a long-term partner that accompanies its portfolio companies through several financing rounds.
PropTech1 Ventures says it has more than 30 shareholders, including leading European real estate groups, medium-sized real estate companies and entrepreneurs in the real estate industry.
The new office in the CityPoint tower in London will be headed by senior associate Jan Gierkes. Wide offices in "other European focus regions" are planned, PropTech1 said. (ah)
