Round Hill Ventures (RHV), the proptech venture capital spin-off of Round Hill Capital, has announced the first close of a €200 mln dedicated European proptech fund.
Set to invest in late seed – Series B high-growth ventures, RHV said that the fund had attracted strong demand from large institutional capital, including sovereign wealth and pension funds.
The new fund is led by RHV managing director Arnie Sriskandarajah, working alongside Round Hill Capital CEO, Michael Bickford.
RHV has been in operation since 2016, providing funding to date to proptech success stories including SenSat, Spacemaker AI, Allmyhomes, Plentific and Casafari.
Bickford said: 'We recognised this trend early on and have become deeply ingrained in the European proptech sector having spent many years integrating technologies into our property management businesses and building relationships with the key tech players and, ultimately, investing in best of breed proptech companies ahead of the curve.
'We see a clear market opportunity for technology centred around the modern needs of residents, and I’m excited that our fund will help address this opportunity for investors and society alike.'
Sriskandarajah added: 'Attracting blue-chip, top tier institutional investors marks a key step in our success story as global champions of proptech.
'Our investors trust our experience and recognise that technology is key to staying competitive in real estate. Our relationship with a premier, vertically integrated investment manager like Round Hill Capital means we have access to an extensive network of global real estate professionals providing us insights and access to opportunities in our selected markets.'
RHV predominantly invests in Europe and is aiming for a portfolio size of circa 45 investments, for which it has a strong and growing pipeline of targets.