Proptech1 Ventures closes second fund

At 44 million euros, the platform completed the first closing.

Transformative real estate technologies, that is the focus of the venture capital platform Proptech1 Ventures (PT1). It has now completed the first closing of its second fund. Its target size: 100 million euros. In this first round, 44 million euros were raised: three times as much as in the first closing of the first fund.

The so-called "PT1 Early-Stage Fund II" is to invest in start-ups from all over Europe. According to the company, they will all have in common to address "the major challenges of our time," "created by the increasing scarcity of natural resources, affordable housing and skilled labor." Also in focus, he said: early-stage proptech, constructiontech and urbantech startups. Those working at the intersection of real estate, energy and infrastructure are also expected to be included.

Some launch partners had already been announced, including Commerz Real, Brunata-Metrona Group, Evoreal, JLL Spark Global Ventures, Liechtenstein Group, Otto Wulff, Scout-24 Group and Supernova Group. The first closing has now been joined by further leading companies that can be assigned to the extended real estate sector: Helaba (the Landesbank Hessen-Thüringen), the Schörghuber Group, Halton Ventures and the Noventic Group. Entrepreneurs and managers who participate privately or through their private investment vehicles have also invested. These include Thomas Wiegand of Cerberus Deutschland Beteiligungsberatung, Thomas Zinnöcker, who was once with Vonovia, and Birgit Rahn-Werner of the Indevise Group.

As part of the fund closure, PT1's management team is to be expanded. Investment managers Konstantinos Matsoukas and Klara Ritter are to be promoted to associate partners.