AG Capital’s 3P1 becomes the first investor from the SEE region to join PropTech1 Ventures, an investment fund focused on startups from Central and South Eastern Europe working on digital property solutions and innovation. 3P1 joins the venture capital fund along with other major investors like JLL Spark, German Aareal and Berlin Hyp.
Earlier today, the fund also announced its first investors from the Nordics, Rasmus Juul-Nyholm, founder and former CEO of Danish property manager Cobblestone and Chairman of the Board of the association PropTech Denmark and his business partner Finn Träff.
3P1’s investment interests are aimed at local startups in the region, developing software, platforms and other technology solutions allowing for more innovation opportunities in the real estate ecosystem. Its current investment portfolio includes one French and several Bulgarian startups. 3P1’s capital is provided by AG Capital and George Pavlov.
“The real estate sector worldwide has been experiencing a strong necessity for modernization over the past years. Digital transformation is now a must and the COVID crisis only came to prove that we need to move forward urgently. Over the past 2 years we have invested in startups developing interesting technology solutions, but as technologies are evolving at a rapid pace, we need to know which types to support and which prove to be the best in the world”, says Georgi Pavlov, 3P1 founder and AG Capital Board Member.
PropTech1 Ventures is one of the first fully ESG-compliant venture capital firms, focused on the innovation potential of the real estate industry in Europe. The fund brings together a team of venture capitalists, real estate experts and digital serial entrepreneurs with presence in DACH (Germany, Austria, Switzerland), the United Kingdom, the Nordics, and BENELUX. Since the beginning of 2018, investments have been made in more than 10 companies working on digital solutions and software in the real estate sector.
Some of the fund’s investment examples feature a platform that can track demand for construction workers on different sites, an app that helps trace availability of desks in coworking spaces and other innovation bridging technology and the property sector with solutions that facilitate people and optimise processes in the ecosystem.