Real estate tech venture capital firm and startup accelerator MetaProp is set to move beyond $100,000 checks with a new fund of $40 million that will back 40 early-stage companies.

On July 20th at the Hilton Union Square, San Francisco, join hundreds of real estate investors, brokers and developers when Inman dedicates an entire morning to exploring real estate capital at a bird’s-eye level. Hear from Silicon Valley investors, up-and-coming tech companies, and established brands that are vying for customers and funding. Follow the money at Capital Connect.

Real estate tech venture capital firm and startup accelerator MetaProp is set to move beyond $100,000 checks with a new fund of $40 million that will back 40 early-stage companies.

MetaProp partner Zak Schwarzman | Credit: MetaProp

The New York-based property tech (or “proptech”) backer is starting its second fund of $40 million for investments in real estate tech startups — a major leap from its first $5 million investment fund.

“It’s the next chapter in our ability to help grow the next generation of emerging real estate and property technology companies,” MetaProp partner Zak Schwarzman told Inman.

MetaProp runs a startup accelerator out of Columbia University for companies working on property tech, which includes everything from “dirt to disposition,” the investors say.

Some of MetaProp’s past investments include the insurance startup Jetty, the commercial appraisal firm Bowery, the title company Spruce and the property and parking management data tool Parkifi.

MetaProp has been writing checks for a little over three years, and its founders have been backing property tech startups as angel investors for almost five years before that. The investor focuses on early-stage startups in property tech around the world.

With its new $40 million fund, MetaProp will write checks between $150,000 and $2 million — a higher number than the investors’ previous limit, around $100,000.

The company has already made nine of its planned 40 investments. Six investments are in startups that went through the MetaProp accelerator from 2017 to 2018: the smart intercom startup Doorport, the real estate investor software platform Hoozip, the home equity startup Irene, the construction industry software platform OnSiteIQ, the retail industry artificial intelligence startup LocateAI, the property management AI platform Travtus and the Spanish parking startup WeSmartPark.

MetaProp partner Aaron Block | Credit: MetaProp

Outside of its accelerator, MetaProp has invested in the pop-up hotels startup WhyHotel and the real estate team collaboration tool Workframe. Its ninth investment isn’t public yet.

MetaProp is making new investments with its $40 million fund thanks to other investors, known as limited partners or LPs, who contribute to MetaProp’s own fund.

The accelerator and investor’s LPs are a mix of brokerages, private equity firms, developers, construction and engineering firms and asset managers, including RXR Realty, PGIM Real Estate, commercial brokerage Cushman & Wakefield, commercial real estate firm CBRE, real estate tech company JLL Spark and real estate software provider Altus Group.

“The MetaProp team has earned a reputation for being proptech’s early stage startup champions. The unique, community-driven approach to building and investing in tomorrow’s real estate technology entrepreneurs aligns with our partner-first model,” Cushman & Wakefield Chief Digital Officer Adam Stanley said in a statement.

With its smaller fund, MetaProp often wrote checks to get startups off the ground and then helped those companies connect with other investors to continue to grow.

With greater resources, the hope is that now MetaProp will be able to stay with companies it first backs in the very early stages as they grow to contribute to later Series A and Series B rounds.

But bigger resources doesn’t mean MetaProp is looking to get in on mega-investing like the iBuyer Opendoor’s recent $325 million funding round. MetaProp instead will stay focused on early-stage companies, trying to find the startup that will eventually bring on millions of its own.

“We’re just writing the checks we should have been writing all along,” MetaProp partner Aaron Block said.

Email Emma Hinchliffe

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×