MetaProp launches $40M investment fund

Investors include RXR Realty, Cushman & Wakefield, CBRE

Jun.June 19, 2018 01:51 PM

MetaProp’s Clelia Peters, Zach Aarons, and Aaron Block (Credit: MetaProp NYC and Unsplash)

Real estate tech accelerator and venture capital firm MetaProp has raised $40 million for its second fund, which it will use to back 40 early-stage companies.

The property tech accelerator, founded in 2015 by Clelia Peters, Zach Aarons and Aaron Block, initially had planned to raise $25 million for its second fund, but investor interest pushed that figure up to $40 million, Peters said.

Investors in the fund include Cushman & Wakefield, RXR Realty, CBRE, PGIM Real Estate, and JLL Spark.

MetaProp has already made nine of the 40 investments, including smart intercom startup Doorport, home equity startup Irene, and Hoozip, a software platform for real estate investors. Companies in the second round will receive between checks of between $150,000 and $2 million, and MetaProp aims to potentially invest in Series A and B funding rounds. Inman first reported the news.

The funding round comes amid rising interest in the real estate tech space. Last year, real estate tech across the globe saw VC investment triple to $12.6 billion.

In April, the Canadian parent company of Brookfield Property Partners announced it would sink up to $300 million in startups, with a portion of that funding earmarked for property tech companies. [Inman] – Eddie Small

Related Articles

Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

What will proptech look like in 2019 and beyond?

What will proptech look like in 2019 and beyond?

From left: Ollie co-foudners Andrew and Chris Bledsoe

Ollie co-founders out at co-living startup

From left: Amy Brandt and Dennis Gilmore

First American to buy Docutech for $350M

NestApple head broker Nicole Fishman, president Stephen Kalifowitz, RentHop founder Lee Lin and RoomZoom founder Elien Becque

Broker-fee ban could boost some startups, doom others

House Canary CEO & co-founder Jeremy Sicklick (Credit: iStock)

Home-valuation startup closes $65M funding round

City Council Speaker Corey Johnson (Credit: Getty Images, iStock)

City Council wants more oversight of “ghost kitchens”