Welcome to the Proptech 20, showcasing the world’s top property technology fundraisers.
Set against a challenging macroeconomic backdrop, fundraising in the private property technology capital markets has slowed. Despite this, PERE’s Proptech 20, ranking the top fundraisers for the strategy over the last five years, hit a new milestone in 2023, surpassing $10 billion in fundraising.
The 2023 ranking also saw a growing share of fundraising for the top 10 firms, and an ascendant Asia-Pacific. Headwinds notwithstanding, proptech continues to attract investment thanks to the drive to innovate the real estate market.
TOP 5 PROPERTY TECHNOLOGY FUND MANAGERS
| Rank | Manager | Headquarters | Amount raised ($m) |
|---|---|---|---|
| 1 | Hidden Hill Capital (GLP) | China | 3,488 |
| 2 | Fifth Wall | US | 2,524 |
| 3 | Gaw Capital Partners | Hong Kong | 1,293 |
| 4 | NFX Capital | US | 1,154 |
| 5 | Camber Creek | US | 709 |
INSIDE THE PROPTECH 20
PROPTECH 20 | METHODOLOGY
The 2024 ranking is based on the amount of private direct investment capital raised by firms between January 1, 2019 and December 31, 2023
For the purposes of the ranking, “proptech” is equity capital raised for the purpose of investing into that sector, with capital raised primarily in blind-pool limited partnerships. Proptech, also known as property technology, is the application of information technology and platform economics to real estate markets.
This year, the counting period has been adjusted from five and a half years down to five years, to allow for a better comparison against other manager rankings published by PERE’s affiliate publications.
Where two firms have raised the same amount of capital over this period, the higher ranking goes to the firm with the largest currently active pool of capital raised since 2019. If there is still a tie after taking into account the size of a single fund, we give greater weight to the firm that has raised the most capital within the past year. We give the highest priority to information we receive from, or confirm with, the proptech managers themselves. When the proptech firms confirm details, we seek to ‘trust but verify.’ Some details simply cannot be verified by us and, in these cases, we defer to the honor system.
In order to encourage co-operation from firms that might make the Proptech 20, we do not disclose which firms have aided us on background and which have not. Lacking confirmation of details from the firms themselves, we seek to corroborate information using firms’ websites, press releases, limited partner disclosures and other sources.
PROPTECH 20 | PREVIOUS RANKINGS
LATEST TECHNOLOGY HEADLINES
OTHER RANKINGS
In addition to the Proptech 20, PERE also compile other private real estate rankings.
What’s more, our sister titles also produce their own industry rankings covering private equity, infrastructure investing and private debt.
To view the latest rankings from PERE, plus those from Private Equity International, Infrastructure Investor and Private Debt Investor, simply navigate through the sections below:
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PERE’s comprehensive database is full of intelligence relating to funds being raised worldwide, with key information on target sizes and strategies used.
