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Sign in Sign up for a FREE subscriptionJP Morgan invests in proptech space fund
Wilshire Lane Capital has received $40 million in LP commitments with the first close of its debut fund, which has a target size of $125 million, launching four months ago.
“Real estate is the largest asset class in the world,” said Adam Demuyakor, Wilshire Lane Capital founder and managing partner. “So of course large and attractive economic outcomes can occur when you combine the category with technology. In many ways, we feel that proptech is next in line after fintech and biotech, and we’re so honored to have this best-in-class slate of investment partners who share our excitement about the space.”
New investors in the first close include J.P. Morgan Asset Management; Nile Capital Group; Schusterman Family Investments; TRB Advisors; First Close Partners; Asland Capital Partners; Bullock Capital; Efrem Kamen, founder of Pura Vida Investments; and anchor investor Morgan Properties, the largest private multifamily owner in the United States.
WLC has a
