The Real Deal New York

Corigin Ventures raises $22M in second fund

Venture capital firm has dedicated much of it to RE tech
By Kathryn Brenzel | August 20, 2018 04:00PM

Corigin Ventures’ David Goldberg (Credit: Corigin Ventures and iStock)

With an eye on investing in real estate tech companies, venture capital firm Corigin Ventures has raised $22 million and plans to bring in another $27.9 million by the end of the year.

The company, which focuses on real estate tech and consumer products, raised nearly half of its $50 million fund from “family offices and high net-worth individuals with connections to real estate,” David Goldberg, general partner at Corigin, told The Real Deal on Monday. He declined to further identify the fund’s investors.

Corigin has already invested $5.75 million from the fund in five real estate-related companies, including home renovation start-up Renoviso, which received $2.5 million; and hotel booking site the Guild, which took in $1.25 million. Another $2.75 million was dedicated to companies unrelated to real estate.

This is Corigin’s second fund, but the first it has launched independently from the balance sheet of its development arm, Corigin Real Estate Group. The company was an early investor at Compass and made a number of PropTech investments with its first fund. Other recipients included Paintzen and LoftSmart.

TRD recently detailed the surge of real estate venture investment. In recent years, there’s been a spike in the number of VC funds devoted exclusively to real estate startups. Major players include Fifth Wall, MetaProp and Camber Creek.