MetaProp, the New York-based PropTech venture capital firm, today announced the closing of its latest real estate technology seed fund. The oversubscribed $100 million MetaProp Ventures III, LP (Fund III) is more than two and a half times the size of MetaProp’s second fund, which closed at $40 million in 2018.
MetaProp’s third fund includes commitments from institutional investors, and a consortium of industry leaders from North America, Europe, the Middle East, Asia, and Latin America that own and manage more than 20 billion sq ft of real estate. High-profile limited partners include long-time investors PGIM, Mitsui Fudosan, CBRE, Bridge Investment Group, Cushman & Wakefield, and JLL Spark, as well as select new category leaders from around the world, including Ivanhoe Cambridge, Intact Ventures, Messer, and Ferguson (North America), DAMAC (UAE), Development Bank of Japan and Sumitomo Mitsui Trust Bank (Japan), Swire Properties (Hong Kong, China), Jakarta Setiabudi Internasional (Indonesia), Eugene Corporation (South Korea), and Ananda Development (Thailand).
“We’ve built the largest PropTech investment portfolio, and our investment team sees more than 200 new PropTech startups every month,” says Aaron Block, Co-Founder & Managing Partner at MetaProp. “This unmatched deal flow allows our real estate limited partners to benefit from outsized investment returns, as well as exclusive access, insights, and PropTech startup engagement via MetaProp’s exclusive Innovation Services platform.”
