Building Innovation News, Issue 7

Fund II backed by Prominent Investors to Digitize and Decarbonize the Built Environment

As many of you know, real estate is facing a dramatically shifting landscape as the need for, and the use of, technology, transforms the industry. We believe the pace of adoption has intensified as tried and proven solutions targeting low hanging fruit are now mainstream and early adopter real estate firms are looking for more sophisticated solutions to make the sector more efficient and sustainable.

The result is billions being spent on innovation - i.e. PropTech - as the real estate industry undergoes a long awaited digitization.

This week, we launched our second fund, Greensoil PropTech Ventures Fund II LP, whose mandate is to invest entirely in proptech, utilizing the firm's longstanding industry relationships, including many of its Limited Partners, to find and invest in technologies compelling to customers in the real estate sector.

We wanted to share this week’s Globe and Mail article by Sean Silcoff.

“Greensoil PropTech Ventures, co-founded and chaired by former Minto Group executive Alan Greenberg, has raised about half of a targeted US$100-million for its second property technology, or Proptech, fund. Public Sector Pension Investment Board (PSP), one of Canada’s largest pension funds, is anchoring the Toronto-based fund.”

“The need for innovation has never been greater” for the real estate industry, said Kristopher Wojtecki, managing director of real estate with PSP, one of Canada’s largest pension managers. “Investing in proptech will allow us to stay at the forefront of the changing landscape of the real estate sector and help future-proof our existing portfolio … [and] add new ways in meeting the fund’s real estate mandate.”

“Proptech has since become one of the fastest-growing segments in venture capital. While the amount of global financings last year dropped by 25 per cent to US$23.8-billion owing to the pandemic, the proptech sector is expected to rebound in 2021, driven partly by growing commitments by building owners to achieve net-zero carbon emissions over the next 30 years. Several large U.S. real estate investors are also sponsoring special purpose acquisition companies (SPACs) in the proptech space."

Sean Silcoff
Globe and Mail, March 15, 2021

Read more about GSPV in the full article. (for subscribers only),

Link to Press Release

Contact us at info@gspv.vc