Reech Corporations Group and Seed Founders launch Europe’s first PropTech Venture Capital Fund with scaleup services
● PROPTECH CAPITAL TO RAISE 50M EUROS FROM INVESTORS
● PARTNERSHIP BETWEEN REECH CORPORATIONS GROUP AND SEED FOUNDERS
● PAN-EUROPEAN FUND INVESTING IN EARLY-STAGE PROPERTY-RELATED TECH COMPANIES
London and Paris, March 12th, 2018
Odysseus Investments (”Odysseus”), the private equity arm of Reech Corporations Group and Seed Founders, a technology investment company established by influential Insurtech investor Minh Q.Tran, today announce they are joining forces to launch the first ever EU-based fund to invest exclusively in PropTech businesses. The 50 million euros fund, to be called PropTech Capital (”the Fund”) will finance, identify and invest in technology companies that positively impact the property environment, either through business model or product innovation.
Minh Q. Tran, Founding Partner of Seed Founders, enjoys a strong reputation in Insurtech investing, with a particular focus on early stage startups. In parallel with PropTech Capital, he has also founded Insurtech Capital, a dedicated special purpose vehicle for (Re)insurance companies investing in startups. He is the founder of AXA Seed Factory, and served as General Partner at AXA Strategic Ventures. Minh also sits on the Boards of a number of Insurtech and PropTech start-ups.
Odysseus’ is contributing its experience in creating and nurturing businesses in the financial and technology sectors, as well as the entrepreneurial, capital markets and real estate expertise of the wider Reech Corporations Group. This is the latest in a series of investments by Odysseus as it seeks to build a pan-European portfolio of innovative businesses with potential to achieve real scale within a rapidly shifting financial services sector.
The Fund will source, secure and manage investments into early-stage technology ventures in Western Europe and across the Continent, supported by a team of investment management executives with deep sector expertise and venture capital experience. Seed Founders is also establishing ProTech, a PropTech accelerator and co-working hub which together with the Fund will provide investee companies access to a fully-fledged property technology eco-system, helping nurture these firms as they build scale.
The Fund, initially targetting 50m euros - but with the ability to take over-subscriptions - is aimed primarily at qualified institutional and corporate investors and will take the form of a tax-effective Early Stage Venture Capital Limited Partnership structure.
Minh Q. Tran, founder of Seed Founders said today: ”The property sector is undergoing a fundamental transformation, fuelled by technology. However an equity gap separates investors and real estate corporates, who need new technologies to future-proof their businesses, and the technology savvy start ups in early stages, who need venture capital funding to grow and accelerate product innovation with corporates. This is the challenge and the opportunity that PropTech Capital, the first EU fund dedicated exclusively to PropTech seeks to address.”
Christophe Reech, chairman of Reech Corporations Group said today: ”ProTech Capital offers a unique way of accessing this exciting new area of activity. What stands out about this Fund is the way it marries Minh’s expertise in early-stage investing in finTech and Insurtech with our track record as serial entrepreneurs, and our experience and knowledge of both real estate and finTech. I am confident this will be a great success.”
REECH CORPORATIONS GROUP
Andrew Garfield, Garfield Advisory Ltd. Phone: +44 (0) 7974982337
Minh Q. Tran
Phone: +33 6 22 26 30 97
Notes to Editors
About Reech Corporations Group
Reech Corporations Group is an entrepreneurial group of businesses which is active internationally in real estate and real estate finance, wholesale and retail financial services and financial technology.
The Group was founded by Christophe Reech, the London based financier and serial entrepreneur with an established track record in creating and growing successful businesses in his chosen fields of expertise.
The Group provides a platform for supporting and developing established businesses as well as identifying new business opportunities where the Group’s skills and expertise can be profitably deployed.
ABOUT SEED FOUNDERS
Seed Founders is a global VC-as-aservice technology management firm focused on accelerating the growth of sustainable innovation for the property environment, through its deep global expertise and large entrepreneur networks. Seed Founders sources global venture opportunities in early-stage, (co-)invests in technology startups by providing investee companies with global strategic insights while giving investors access into new PropTech technologies.
More info: www.seedfounders.vc