Tishman Speyer, one of the world’s leading developers, owners, operators, and asset managers of first-class real estate, announced it has secured $100 million in commitments, anchored by the National Pension Service of Korea and Investment Management Corporation of Ontario, for its first Proptech venture capital fund. The venture seeks to raise up to $150 million in total equity to fund investments in technology-driven opportunities related to all sectors of real estate. The Tishman Speyer Proptech Venture Fund focuses primarily on investments in early-stage companies with proven technologies and disruptive business models designed to improve how residents, customers, brokers, investors, lenders, operators, and owners interact with and experience real estate. The Fund will specifically target emerging firms that can leverage Tishman Speyer’s global portfolio, its expertise as an early adopter of real estate technology and its vast network of relationships.
Investor interest in Proptech has increased significantly in recent years. According to PitchBook Data, Proptech companies have raised more than $110 billion in venture capital over the past five years alone. Many areas of real estate remain ripe for disruption, including design and construction, construction financing, leasing and tenant management, investment management, building infrastructure and sustainability and more. Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 30 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 484 properties, totaling 219 million square feet, with a combined value of over $121 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt, and the Mission Rock neighborhood currently being realized in San Francisco.