First close for Patrizia sustainable tech fund

Patrizia has announced a first close for its €100 million ($105 million) venture capital fund targeting sustainable real estate technology.

The German real estate investment manager said the fund “will target investments in technology companies that enable a more sustainable built environment and will focus on late Seed to Series B technology companies globally, with a strong focus on Europe”.  

So far, two investments have been made: GBuilder and Liftango. The first is a Finnish platform for customer management in the residential development sector and the second provides software to shared transport systems, for example public transport or carpooling.  

Wolfgang Egger, CEO and founder of Patrizia, said: “We are delighted to see the successful first close of our new VC fund product which will play an important role in real asset’s journey to net-zero. Reducing our carbon footprint in construction and real estate is the biggest challenge of our time, so funding the companies who are at the cutting edge of sustainable innovation is absolutely essential. 

“Besides real estate and infrastructure, venture capital as a product offers our clients the potential for attractive investment returns and strategic advantages, particularly for investors with real estate portfolios.”