Med Capital Management lands in venture capital. The alternative investment firm is going to launch a fund that will invest in 'proptech'.
With assets under management of 300 million euros, the company has obtained the approval of the CNMV to launch its first fund Med Capital Venture Fund I, which will have up to 25 million euros for the acquisition of minority stakes in emerging companies with technologies that seek to modernize the real estate sector, the so-called proptech.
The fund will invest, mainly, in Spanish companies with a ticket per operation of between 250,000 and 500,000 euros. Including reinvestments in subsequent rounds of financing, the maximum figure can reach five million euros.
The objective is startups that have passed the seed phase or are about to do so and will participate in series A and B rounds, becoming part of the governing bodies of the companies where they invest.
Within proptech, the priority areas for the fund will be technologies aimed at facilitating online transactions of real estate assets and those that allow improving construction, maintenance and management processes, both in terms of efficiency and sustainability.
The new investment vehicle is nourished by the contributions made by the manager's reference investors, among whom are Silvio Elías, former owner of Caprabo; Manuel Arroyo, CEO of Dorna Sports; the Andorran businessman Ramón Cierco; or the Chilean magnates Paola Luksic and Óscar Lería.
Spanish real estate startups captured just over 856 million euros between July 2020 and June 2021, according to the Proptech Global Trends 2021 study, prepared by ESCP Business School in collaboration with the Principality of Monaco.