Patrizia expands footprint with stake in US startup fund

The German real assets giant has partnered with North American proptech venture capital firm, Camber Creek, by putting money into the final close of its Camber Creek Fund III.

Camber Creek’s latest proptech fund was oversubscribed and closed with $155m. Its focus is on companies across the real estate value chain including construction, development, asset management and leasing. Camber Creek’s existing portfolio includes Compstak, Measurabl, VTS and 42 Floors.

Dr Manuel Käsbauer, chief technology and 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.”

By investing in Camber Creek, Patrizia has expanded its global innovation footprint which now spans three continents: Europe, Asia and the Americas.

Jeffrey Berman, 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 other technology and innovation investments in Pi Labs Fund III in Europe and Taronga Ventures’ RealTech Ventures Fund in Asia. It has backed 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.