Investment firm REdimension Capital has announced its inaugural fund, which will focus on investing in early-stage technology companies that deliver demonstrable improvements in the way property is developed and managed.
The fund is known as the REdimension Real Estate Technology and Sustainability Fund and aims to deliver both investment and operating returns.
The fund achieved its first-close target, receiving commitments of more than R200-million from founding investors including the Investec Property Fund, Growthpoint Properties and Rand Merchant Bank. These three entities will anchor the fund.
The fund is further supported with investment from Liberty Two Degrees, Liberty Group and Sphere Holdings, among others.
The founding investors provided a significant strategic underpin with over 650 properties across sectors directly under their management. This portfolio represents more than 11 million square metres of gross lettable space and is valued at an estimated R235-billion.
It is anticipated that additional commitments will be made to the fund before January. The fund has also received significant interest from a range of co-investment partners, including from certain of the founding investors.
Thematic approach
The REdimension fund will target investment in companies developing high-impact solutions that operate at the convergence of real estate and technology. It will take a thematic approach to investment, focusing on areas that have a clear value proposition and help solve challenges facing the sector. This includes various built-world technologies that aim to improve the way assets are experienced, streamlining management processes and decision making. – © 2023 NewsCentral Media