US-based real estate company Simon Property Group has launched a corporate venturing unit, Simon Venture Group, which will invest in businesses pursuing retail innovation.
Simon Venture Group will invest in early-stage and high-growth technology businesses, from the seed to the Series C+ stages, and will target direct and indirect strategic investments.
The new unit will be headed by J. Skyler Fernandes, previously a partner at venture capital fund Centripetal Capital Partners, where he focused on consumer internet, retail and technology with commercial applications. He also founded seed fund One Match Ventures.
“We believe we have only scratched the surface on applying technology to the retail environment in innovative, interesting ways,” said Mikael Thygesen, chief marketing officer for Simon Property Group. “We’re excited to add Skyler to the team and look forward to his active engagement with the venture capital and start-up community to capitalise on opportunities that will yield benefits for our consumers and our retailers.”