MetaProp, a NYC-based early stage PropTech venture capital, advisory and acceleration firm, closed its second fund, at $40m.
MetaProp Ventures II’s limited partners include investors in the real estate industry, including asset managers, top tier private equity firms, the largest global brokerages, international and U.S. owner/developers, blue chip construction and engineering firms, maintenance services firms and more. Among others, the list includes RXR, PGIM Real Estate, Cushman & Wakefield, CBRE, JLL Spark and Altus Group.
The fund will invest from $150k to $2m in up to 40 new PropTech software, internet of things (“IoT”), hardware and tech-enabled services startups.
Founded in 2015, the firm will continue its strategy of investing in the newest real estate technologies like 3D printing, blockchain, co-working/co-living, augmented reality and digital energy management across all global real estate asset types including residential, office, retail, hotel and industrial.
Notable earliest stage investments include emerging PropTech startups like Bowery, Flip, Irene, Jetty, Jones, Reside, Spacious and Spruce.