PT1 - PropTech1 Ventures, the Berlin-based PropTech firm, has raised €44 mln at the first close of its second vehicle, strongly suggesting it will ultimately have a much larger fund than its debut, which reached a cap of €50 mln in January 2022.
A year later, and the company reiterated its final target for Fund II is €100 mln – double its previous effort.
In a statement, the company said it had already raised three times the figure it had managed upon the first closing of its debut investment vehicle.
A spokesperson for the company said raising the second fund had been much easier, as within the real estate industry it had 'become clearer that innovation is a must-have'. At the same time, the firm has built a good brand reputation, he said.
In addition to the launch partners already announced, such as Commerz Real, Brunata-Metrona Group, evoreal, JLL Spark Global Ventures, Liechtenstein Group, Otto Wulff, Scout 24 Group and Supernova Group, other investors have been revealed.
They include a mix of companies such as Helaba, Schörghuber Group, the family-owned company behind Bayerische Hausbau and Paulaner Brewery among others, Halton Ventures, owner of the Halton Group, a global technology leader for indoor air solutions for demanding spaces, and the Noventic group, a pioneer of climate-intelligent management of real estate.
Entrepreneurs and top managers have invested, either privately or through their private investment vehicles, such as Thomas Wiegand, MD of Cerberus Deutschland Beteiligungsberatung, Thomas Zinnöcker, former Deputy CEO of Vonovia and ex-CEO of ista Energiedienstleistungen, Birgit Rahn-Werner, CEO of Indevise Group, and many more.
PT1 Early-Stage Fund II invests in entrepreneurs from across Europe that ‘tackle the mega challenges of our time created by increasing scarcity of natural resources, affordable living space and skilled labour’.
PT1's focus is on early-stage PropTech, ConstructionTech and UrbanTech startups, also at the intersection of the real estate industry with the energy and infrastructure asset classes.
The debut fund made 16 investments after assessing well over 2,500 companies.
‘Compared to the launch of the first fund, PT1 was able to increase its deal flow by more than 500%,’ the company said. ‘The team responsible for this has grown threefold and the number of fund shareholders, who can serve the portfolio companies as door openers for customers and real estate portfolios, has increased more than sixfold.’
‘In general, we believe that in the current market environment venture capital investors focusing on early-stage startups are finding attractive purchase prices in financing rounds, while at the same time the real estate industry's need for innovation and sustainability is demonstrably higher than ever.’
