GreenPoint Partners, an alternative firm investing in real estate, technology and sustainability, today announced closing its inaugural technology fund at $134 million, according to a press release.
The firm says the Technology Fund will be targeted at investing in high-growth companies “underpinning the digital transformation of multitrillion-dollar real asset industries: real estate, infrastructure, energy and agriculture.”
Funding (which reached $200 million including associated co-investment capital), included investors from the Public Sector Pension Investment Board (PSP Investments), Goodman Group, Ivanhoé Cambridge, Lendlease, Greystar, Berkshire Residential Investments, Charter Hall, Kloof Capital, Gandel Group, and the George Krupp Family Office.
GreenPoint has invested on 16 companies to this point, including proptech, fintech and last-mile startups Built Technologies, OpenSpace, Envizi, ility, Fetch Package, Snapdocs and Relay Payments.
“The increasing pervasiveness of technology and ESG trends is pressuring real asset digitization and technology adoption to catch up to other industries. Whilst the opportunities from this transition are vast, the knowledge gap and lack of integration makes this a challenging process,” stated GreenPoint founder and CEO, Chris Green, in the release.
“We believe that the winners from this transition will be digitally and sustainability-aware real asset owners/developers as well as the technology companies that can effectively deliver requisite solutions. We are excited to announce these firm milestones as we continue building the ecosystem that can facilitate success for both the real asset and technology participants,” said Green.
In addition to the fund close announcement, GreenPoint also announced the first investment out of its private equity strategy in Infinium Logistics, a European final mile logistics platform targeting decarbonization, advanced fulfillment, delivery and parking solutions.
The company stated that the investment combines growth capital for Infinium’s operating platform and funding to acquire last mile assets across Europe, with Infinium currently managing approximately 30 sites.
In other recent proptech news, blockchain-based real estate platform Parcl raised $7.5 million to enable collaboration between software and real estate firms. Renters Warehouse parent Appreciate also announced plans to go public via SPAC.