Berlin-based PT1 PropTech1 Ventures has made its first three investments in proptech start-ups Climate X, Voltfang and Ontik, following the €44m (£39m) first closing of its second fund.
London-headquartered Climate X is a global climate risk analytics provider. It has created a digital “twin” of the Earth that simulates extreme weather events and how they can damage properties, infrastructure and assets. Its forecast climate data covers up to 30 years into the future.
Ontik focuses on digital trade credit management software. It aims to make credit more readily available to the construction and building materials industry.
Germany’s Voltfang specialises in repurposing used electric vehicle batteries to create energy storage systems for commercial real estate. Its customers include Aldi Nord.
The venture capital firm’s fund has a €100m target volume. In its first fund, the firm created a portfolio of 17 start-ups, including four unicorn candidates and one write-off.
PT1 managing partner Anja Rath said the second fund is “following the same proven concept” set by the first, but is “starting from a higher level”.
“Our deal flow and data points, our LP investor base and our team size and experience has increased manyfold,” said Rath.
PT1 managing partner Nikolas Samios said: “The current macroeconomic situation creates excellent investment opportunities. Real estate is facing an unprecedented, multidimensional change – the age of ‘we always did it this way’ is finally over, and it is always wise to invest when valuations are low compared with previous peaks.”
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