New York–based venture capital firm MetaProp has closed its latest real estate technology seed fund, MetaProp Ventures III.
The oversubscribed $100 million fund was more than two and a half times the size
of its predecessor, MetaProp Ventures II, which closed at $40 million in 2018.
MetaProp Ventures III secured commitments from institutional investors, as well as a consortium of industry leaders from North America, Europe, the Middle East, Asia and Latin America that own and manage more than 20 billion square feet of real estate.
High-profile limited partners include long-time investors PGIM, Mitsui Fudosan, CBRE, Bridge Investment Group, Cushman & Wakefield, and JLL Spark. Select new category leaders from around the world included Ivanhoe Cambridge, Intact Ventures, Messer, and Ferguson (North America), DAMAC (UAE), Development Bank of Japan and Sumitomo Mitsui Trust Bank (Japan), Swire Properties (Hong Kong), Jakarta Setiabudi Internasional (Indo