The venture capital firm invests in technology companies that are disrupting and innovating the real estate market.
Venture capital firm Camber Creek has closed its Fund III oversubscribed with $155 million in commitments. The firm invests in technology companies that are disrupting and innovating the real estate market, such as Latch, VTS, Curbio, Notarize, Compstak and Measurabl.
Camber Creek originally targeted $120 million for this fundraise, but was able to surpass expectations. The pandemic has accelerated not only the adoption of technology, but the necessity for new technologies as well. As a result, the firm is predicting the evolution of the real estate tech sector. “Our limited partners get the first look at disruptive companies and add strategic value to our portfolio companies as customers and partners. Our focus on creating value for our portfolio companies makes us the venture firm of choice for real estate technology founders,” said Casey Berman, founder and CEO of Camber Creek in a statement.
Investors aren’t the only players banking on the rise in real estate technology. A recent report from Building Engines found that more than half of real estate owners today are looking to increase the adoption of technology and 84% of owners believe that technology can help the business meet all of its operational goals. The report also showed that the vast majority of owners—89%— of property owners believe that technology is shaping the commercial real estate industry. These trends are also underscoring the need for more capital support for early and growth-phase technology firms.
However, quality is a critical factor in real estate technology. The same report from Building Engines also found that a third of owners were not happy with their current technology program, and 41% of operators said that they changed to a new technology solution. Another 34% of owners said that they adopted a new technology solution.
Of course, in addition for growing technology demand, Camber Creek also has a long and successful track record in the real estate tech space, which helped to drive investor interest for this fund. In nine years, the firm has made investments in 25 firms with eight exits and 17 ongoing enterprises. It also has $250 million in assets under management.
Original article contributed by: GlobeSt.com