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Proptech stake buys Patrizia early lead on innovation

[Photo: Markus Spiske, Unsplash.]

German property company Patrizia is to partner North American PropTech venture capital firm Camber Creek in a move designed to give the Augsburg-based firm early access to future technology and innovation “in one of the most dynamic global technology markets”.

“Our partnership with Camber Creek will further help us identify the best solutions that enable advanced services and better investment choices for our clients,” Patrizia chief technology and innovation officer Manuel Käsbauer said.

Patrizia is partnering Camber Creek by participating in the final close of the Camber Creek Fund III, Camber Creek’s latest proptech fund, which was oversubscribed and closed with $155 million (circa €131 million). The fund’s focus is on proptech companies across the real estate value chain including construction, development, asset management and leasing.

Patrizia said in a statement that the deal has expanded its global innovation footprint which now spans three continents: Europe, Asia and the Americas.

Patrizia is already invested in Pi Labs Fund III (Europe) and Taronga Ventures’ RealTech Ventures Fund (Asia); the AI platform Cognotekt; data management service provider EVANA; WiredScore, the global rating scheme for digital connectivity across commercial and residential real estate; asset and portfolio management software in the German-speaking region control.IT; and BrickVest, the open industry platform for real asset investing.