Reech Corporations Group and Seed Founders have launched Europe’s first PropTech venture capital fund.
Odysseus Investments, the private equity and venture capital division of Reech, will operate alongside Seed Founders, as it looks to build a pan-European portfolio of financial services companies.
The firm hopes to raise up to €50m from investors but has the ability for over-subscriptions and is targeting qualified institutional and corporate investors. This vehicle will look to finance and invest in to European early-stage property technology companies.
Alongside the fund, Seed Founders is launching a PropTech accelerator and co-working hub which will work with fund and provide an ecosystem to help the companies scale.
Seed Founders founder Minh Tran said, “The property sector is undergoing a fundamental transformation, fuelled by technology.
“However, an equity gap separates investors and real estate corporates, who need new technologies to future-proof their businesses, and the technology savvy startups in early stages, who need venture capital funding to grow and accelerate product innovation with corporates. This is the challenge and the opportunity that PropTech Capital, the first EU fund dedicated exclusively to PropTech seeks to address.â€
Last year, Tran launched InsurTech Capital to help connect between 10 and 20 insurance companies with investment opportunities across the globe. The platform, which was launched through Seed Factory, serves as a ‘VC-as-a-Service’ and aims to improve the InsurTech space by supporting cooperation and partnerships.
In an interview with FinTech Global, Tran said prevention tech is the future for InsurTech and will open up a wealth of new opportunities. These platforms would be able to support consumers earlier in the value chain and help to avoid accidents.
Last month, Reech Corporations Group made a ‘significant’ seed investment in to Germany-based InsurTech platform FinanzRitter.Â
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