Key highlights:
- Tishman Speyer has launched the Tishman Speyer Proptech Venture Fund for embracing technological innovation.
- This is the first proptech venture capital for the company and it has already raised $100 million in equity commitments.
- The investment industry has shown its interest in proptech and a record 219 transactions have been invested in 2021.
Tishman Speyer has launched the Tishman Speyer Proptech Venture Fund intending to raise $150 million. The funding will be used for technology-driven opportunities across the real estate market. This is the first proptech venture capital for the company and it has already raised $100 million in equity commitments.
Tishman considers this to be the perfect time for the company and the commercial real estate industry to welcome the technological revolution. Jenny Wong, the Senior Managing Director of Proptech with Tishman Speyer commented, “We are in the early innings of a technological revolution that will transform how we operate and interact with real estate.”
Tishman Speyer embracing innovation
The real estate industry is embracing innovation at an accelerating pace in recent years. however, there is still room for growth in every area of real estate virtually. “In recent years, we have used our own balance sheet to invest in a wide range of emerging Proptech companies and viewed our new Venture Fund as the logical next step,” Wong added.
Tishman Speyer is familiar with proptech and has invested in 19 emerging proptech companies since 2017. Due to their expertise, several companies are investing in Tishman Speyer’s Venture Fund. The new proptech investment vehicle has received a $100 million investment from the National Pension Service of Korea and Investment Management Corporation Ontario.
Proptech will center on the theme of sustainability
The proptech industry was equally affected by the pandemic, but it was able to sustain it. The investment industry has shown its interest in proptech and with $5.1 billion in venture capital across a record 219 transactions having been invested in 2021. A March 2022 report by the Valley Bank and Bank Leumi USA confirmed this and also stated that proptech will center on the themes of sustainability and security.
Wong shared, “Our goal is to find, invest in and ultimately adopt the technologies that will make our customers’ lives more productive, enjoyable, and inspired.”
