PATRIZIA expands into North American PropTech VC market
- PATRIZIA expands its global innovation ecosystem and scouting approach with strategic partnerships across three continents
- Investment in Camber Creek VC fund is a key milestone to identify most relevant technologies for further collaboration
- Camber Creek has a strong track record and access to PropTech companies in North America
Augsburg / New York, 9 November 2020. PATRIZIA AG, a leading 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 EUR 131 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, said: “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, said: “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.
PATRIZIA: A leading partner for global real assets
As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 45 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag
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