PATRIZIA expands into North American PropTech VC market
PATRIZIA AG, a partner for global real assets, has entered into a strategic partnership with the North American PropTech venture capital firm, Camber Creek, by participating in the final close of its Camber Creek Fund III.
Camber Creek’s latest PropTech fund was oversubscribed and closed with USD 155 million (circa EUR131 million). Its focus is on PropTech companies across the real estate value chain including construction, development, asset management and leasing.
By investing in Camber Creek, PATRIZIA has expanded its global innovation footprint which now spans three continents: Europe, Asia and the Americas. The latest move into the North American PropTech market further strengthens the company’s leading role in transforming the real estate industry, enabling full coverage of all key geographies and sectors in real estate technology.
Dr Manuel Käsbauer, Chief Technology & Innovation Officer at PATRIZIA, says: “With our strategic investment in Camber Creek we are securing our early access to future technologies and innovation hubs in one of the most dynamic global technology markets. Our partnership with Camber Creek will further help us identify the best solutions that enable advanced services and better investment choices for our clients.”
Jeffrey Berman, a General Partner at Camber Creek, says: “We are excited to be collaborating with PATRIZIA as a key player in real estate innovation. The entrepreneurial and future oriented spirit of PATRIZIA together with their strategic focus on cutting edge and industry-transformational technology, makes them an ideal limited partner for us.”
PATRIZIA has Technology & Innovation investments in leading technologies including Pi Labs Fund III (Europe) and Taronga Ventures’ RealTech Ventures Fund (Asia), the AI platform Cognotekt; data management service provider EVANA; WiredScore, the global rating scheme for digital connectivity across commercial and residential real estate; control.IT, the market leader for asset and portfolio management software in the German-speaking region; and BrickVest, the independent, global, open industry platform for real asset investing.