Venture capital platform PT1 - PropTech1 Ventures has completed the first closing of its Fund II, with a target size of €100 million.
So far it has raised nearly €44 million, more than three times the volume of the first closing of the first fund.
PT1 Early-Stage Fund II is thus now operational and invests in entrepreneurs from across Europe that tackle the challenges of our time created by increasing scarcity of natural resources, affordable living space and skilled labour.
PT1's focus is on early-stage PropTech, ConstructionTech and UrbanTech startups, also at the intersection of the real estate industry with the energy and infrastructure asset classes.
What they said
Nikolas Samios, PT1 managing partner, said: "The real estate industry is facing multiple challenges and opportunities. Green regulation is just getting off the ground and the increasingly frequent climate incidents will only reinforce this trend. At the same time, with a continued growth in the number of prominent fund investors, we are becoming even more attractive to the best founding teams. We are very much looking forward to being able to support what we see as the most promising topics even more effectively with Fund II.”