US-based venture capital firm RET Ventures’ second fund has reached a $165m final close with backing from real estate investment trusts Essex Property Trust, Invitation Homes, Mid-America Apartment Communities and UDR.
40 North America-based multifamily and single-family real estate owners, operators and developers including BH Management, Bozzuto, Cortland, Edward Rose & Sons, Greystar Real Estate Group, Starlight Capital, Starwood Capital Group and Waterton were also among the limited partners for the fund.
The firm’s debut fund closed at $108m in 2018 and also featured Essex Property Trust, Mid-America, UDR, Starwood Capital and Cortland among its LPs in addition to peers Aimco, Boardwalk and GID.
Founded in 2017 and also known as Real Estate Technology Ventures, RET Ventures targets real estate technology developers with the potential to help limited partners manage their investment portfolios.
RET Ventures founder and partner John Helm said: “After the great success of our first fund, we are excited to more than double the size of our Strategic Investor base in this new fund, which will enable us to further shape the future of real estate technology in the years to come.”
