M7 launches new tech fund

M7 has launched a proptech VC fund in what marks the company’s increasing commitment to advancing tech in real estate. M7 executive chairman Richard Croft revealed the business had hired a team to “take on, in a small way, organisations like Fifth Wall so we can have a UK-led proptech venture fund”. Croft said the new fund, M7 Structura, will “start off small, a few tens of millions”, with the aim to make this a bigger part of the company’s portfolio. “We’re going to start off small and see how it goes,” he said. He added: “We’re an experienced tech investor ourselves, and we think it has a massive role to play in the future of real estate.” The announcement follows on from M7’s numerous investments into proptech companies. M7 led start-up Jasper’s $2.7m funding round back in September 2019. To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette