PropTech1 Ventures wins PwC Germany as new investor


PropTech1 Ventures, the European venture capital fund for the untapped innovation potential of the real estate industry, has secured auditing and consulting firm PwC Germany as new investor.


With the investment by PwC, PropTech1 Fund I has now collected capital commitments amounting to more than 80% of its targeted fund volume. A final closing of the fund is planned by the end of 2021 at the latest.
Thomas Veith, partner and Leader Real Estate / Real Assets at PwC Germany, said 'The real estate industry is facing major changes due to the pandemic and the need for ecological transformation. PropTech1, with its startup portfolio, gives us a glimpse into the future of the industry. Our strengthened position in the European PropTech ecosystem allows us to better support our clients in addressing these challenges.'
Nikolas Samios, managing partner of PropTech1, added, 'We see PwC's investment as a further accolade, as PwC stands for excellence in auditing and consulting. We are delighted to have gained the trust of a new partner who is itself synonymous with trust worldwide.'