REdimension Real Estate Technology and Sustainability Fund I, the firm’s inaugural fund, has garnered over $10 million in financing from the South African venture capital company, REdimension Capital.
Growthpoint Properties, Rand Merchant Bank, and Investec Property Fund spearheaded the financing round. In addition, it received investments from Liberty Two Degrees, Liberty Group, and Sphere Holdings, among other investors.
REdimension Real Estate Technology and Sustainability Fund I, founded in 2021 by Peter Clark and Matt Marshall, is committed to funding entrepreneurs creating solutions to digitize the real estate sector. Additionally, the company aims to back businesses that promote energy efficiency and a reduced carbon footprint, thereby enhancing sustainability.
“We’re ecstatic about accomplishing a first close for the REdimension Real Estate Technology and Sustainability Fund,” the company’s founders Peter Clark and Matthew Marshall, said. It signifies a substantial landmark in developing property technology investment in South Africa. We appreciate the support from our founding investors and are eager to perform for them while forging a significant and enduring positive influence on the markets we operate in.”
Furthermore, the total sum garnered was 13% higher than the previous year, indicating growing investor enthusiasm. Most of the disclosed prop-tech deals were also conducted in Egypt and Nigeria.
The company expects to arrive at the fund’s final closing by January 2025 at the latest.