Tishman Speyer to Leverage its Expertise as an Early Adopter of Innovative Technologies to Accelerate Investments in Emerging Proptech Companies
NEW YORK, March 24, 2022 – Tishman Speyer, one of the world’s leading developers, owners, operators and asset managers of first-class real estate, today announced it has secured $100 million in commitments, anchored by the National Pension Service of Korea and Investment Management Corporation of Ontario, for its first Proptech venture capital fund. The venture seeks to raise up to $150 million in total equity to fund investments in technology-driven opportunities related to all sectors of real estate.
The Tishman Speyer Proptech Venture Fund focuses primarily on investments in early-stage companies with proven technologies and disruptive business models designed to improve how residents, customers, brokers, investors, lenders, operators and owners interact with and experience real estate. The Fund will specifically target emerging firms that can leverage Tishman Speyer’s global portfolio, its expertise as an early adopter of real estate technology and its vast network of relationships.
“This is an exciting moment for real estate, an industry that will be transformed by cutting-edge innovation. We are in the initial stages of a profound disruption that promises to dramatically improve how our customers, partners, and vendors interact with buildings,” said Tishman Speyer CEO Rob Speyer. “The Proptech Venture Fund gives Tishman Speyer the opportunity to help shape and accelerate this ongoing transformation by championing the next generation of innovators.”
The Fund will enable Tishman Speyer to partner with a range of exceptional founders and teams applying rapid and disruptive technology-driven changes and business model innovations across the entire real estate value chain.
Tishman Speyer Senior Managing Director of Proptech Jenny Wong added, “Tishman Speyer is uniquely positioned to understand, pilot and power the growth of the world’s most promising Proptech companies. As one of the first firms to embrace Proptech as a tool to improve the customer experience and then as an investor, we have developed the insight and organizational infrastructure to serve as a valued thought partner, mentor, customer and accelerator.”
Since 2017, Tishman Speyer has investedin 19 emerging Proptech companies, including such market leaders as OpenSpace, VTS, Agora, Monograph and Blank Street.
Investor interest in Proptech has increased significantly in recent years. According to PitchBook Data, Proptech companies have raised more than $110 billion in venture capital over the past five years alone. Many areas of real estate remain ripe for disruption, including design and construction, construction financing, leasing and tenant management, investment management, building infrastructure and sustainability and more.
About Tishman Speyer
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 30 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 484 properties, totaling 219 million square feet, with a combined value of over $121 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.