The brokerage and management of real estate not just in Australia but around the world has changed very little over the past 40 years. Wide scale technology adoption across the industry is changing the way real estate is transacted and investment in these technology related businesses presents an enormous opportunity to generate quality returns.
PieLAB Venture Partners in conjunction with 43 of Australia’s leading real estate businesses that collectively account for approximately 7% of all real estate transactions and property management services in Australia have pooled their resources to invest over $10 million in the Real Estate Industry Venture Capital Fund 2016, which is Australia’s first real estate specific technology fund.
As part of a $20 million fund (currently 70% subscribed) the Real Estate Industry Venture Capital Fund will invest in approximately 8 businesses that provide products and services relevant to the real estate industry. The fund’s management team and Advisory Committee who collectively account for nearly 25% of the total investment in the fund are amongst the most influential and well connected people in the Australian real estate industry. The management team and investment committee are experienced entrepreneurs and finance professionals who have run multiple businesses and made several successful investments in and around the real estate industry.