MetaProp to launch $100m fund
The New York-based venture capital fund is looking to raise $100m for its latest investment programme, MetaProp Ventures III, according to a filing submitted to the US Securities & Exchange Commission.
The firm’s previous schemes have provided investment to organisations using a wide range of technology to transform the real estate market.
A spokesperson for MetaProp declined to comment when contacted.
Founded in 2015 by Aaron Block, Clelia Peters and Zach Aarons, MetaProp is best known for its accelerator programmes, funds and advisory schemes for companies developing real estate innovations.
Since launching, MetaProp has invested in more than 115 technology companies around the world and raised over $2bn.
Last summer, MetaProp raised $40m for cohort companies through its second Proptech Venture Capital Fund. It was supported by the likes of RXR, PGIM Real Estate, Cushman & Wakefield, CBRE, JLL Spark and Altus Group.
The MetaProp Ventures II portfolio includes:
Workframe is a workflow automation tool which aims to accelerate complex project delivery, improve communications and ensure projects stay on budget. The firm last raised in 2018, receiving $9.5m from Newmark Knight Frank, MetaProp and Venrock.
WhyHotel is an alternative lodging service that operates pop-up hotels in luxury apartment buildings, with an aim to de-risk the lease-up phase of assets. WhyHotel raised $10m in a Series A funding round in 2018.
Irene provides an equity solution for older adults to sell their home, whilst retaining their right to live in it or rent it out, in order to attain additional funds during retirement. The startup last raised $1.3m from IA Ventures and MetaProp.
Locate.ai uses geospatial data and machine learning with an aim to transform the real estate industry. Founded by Stanford computer scientists, the team is building a predictive analytical platform that generates insights on how to make smarter and faster transactions. The company raised $4.1m last year from MetaProp, Plug and Play, Splash Capital, Red Dog Capital, Slow Ventures, Pear Ventures and 8VC.
Jones offers Pay-As-You-Go service for the traditional world of liability insurance. The startup aims to real estate owners, managers, builders and independent contractors across the US to automate the insurance workflow and enable contractors to obtain on-demand insurance within minutes. Jones raise $2.8m in a seed round last year with JLL, Hetz Ventures, MetaProp, Ground Up Ventures and ARCO.
Travtus is a London-based Artificial Intelligence company which has created a digital property manager called Adam, and aims to automate property management by 2021. The startup last raised $700,000 in 2018 from Concrete VC, MetapProp and San Celso Partners.
Hoozip builds productivity software for residential real estate investors, and aims to provide smaller investors with data tools to make them more efficient at finding and analysing deals. The tech company last raised in 2017 receiving $250,000 from MetaProp.
Doorport aims to make existing intercom systems for apartments smarter by installing features such as live video and smart speakers. Doorport has raised $650,000 over three rounds since 2018.
OnSiteIQ collects 360-degree imagery on construction sites and transforms it into interactive walkthroughs, mapped to floor plans weekly, to control risk and and monitor progress. The startup raised $2m in 2018 with Anthemis Group and MetaProp.