REdimension Capital, a prominent real estate investment firm, has successfully secured R200 million ($10.8 million) in funding for South Africa’s flourishing property technology (proptech) start-ups. This achievement was announced in a recent statement, revealing the first close of the REdimension Real Estate Technology and Sustainability Fund I.
The fund has garnered strong support from stakeholders within the real estate sector and aims to invest in early-stage technology companies that can bring tangible improvements to property development, management, and engagement processes. Through strategic collaboration with industry stakeholders, the fund has established a mutually beneficial ecosystem, intending to generate both investment and operating returns while fostering the adoption of technology and promoting sustainable outcomes.
REdimension Capital is proud to have gained the trust and backing of its founding investors, which include major players such as Investec Property Fund, Growthpoint Properties, and Rand Merchant Bank, anchoring the fund. Additionally, it has received support from Liberty Two Degrees, Liberty Group, Sphere Holdings, and others.
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The founding investors contribute significantly to the fund’s strategic foundation, managing over 650 properties across various sectors, totaling more than 11 million square meters of gross lettable space, valued at over R235 billion. Further strategic commitments are expected to be made before the final close, scheduled for January 2025.
The fund’s investment strategy revolves around high-impact solutions at the intersection of real estate and technology. It takes a thematic approach, focusing on areas that offer clear value propositions and address challenges within the sector. This includes built-world technologies that enhance asset experiences, streamline management processes, and promote the digitalization of the real estate industry.
Sustainability forms a core aspect of the fund’s mandate, with a commitment to supporting technologies that promote energy efficiency, reduce carbon footprints, and positively contribute to local community engagement. By doing so, the fund aims to enhance climate resilience within the real estate sector and promote social inclusion.
As a fund backed by established industry players, its primary goal is to support early-stage proptech companies with scalable business models and provide a platform for distribution and value creation.
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Peter Clark and Matthew Marshall, the founders of REdimension Capital, expressed their excitement about achieving the first close for the REdimension Real Estate Technology and Sustainability Fund I. They see this as a significant milestone in the evolution of property technology investment in South Africa and are eager to deliver for their founding investors, while making a meaningful and lasting positive impact on the markets they operate in.
REdimension fund South Africa REdimension fund South Africa
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard