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Business Venture

MetaProp Raising $200M For Fourth Proptech Fund

New York venture capital firm is seeking to raise $200 million for its fourth fund to back real estate technology startups, aka proptech.

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MetaProp, founded in 2015, disclosed the fund Wednesday, which will be called MetaProp Growth Select I, according to a regulatory filing with the . Co-founder is listed as the fund manager.

This fund will be the largest for MetaProp, according to 附近上门 data. Last year, the firm announced it was raising $100 million for its third fund, . In July, MetaProp filed in a Form D that it had . It also raised a in 2018.

A spokesperson for the firm said MetaProp declined to comment.

Growth capital is typically reserved for more mature startups looking to do just that, and will use the funds in areas such as expanding their operations or entering new markets.

MetaProp says it has invested in more than 100 real estate technology companies in the last five years. The firm was pretty active in May, according to 附近上门 data, when it invested in two startups, VergeSense and Briq. This week, it announced it led 鈥檚 $4.8 million seed round. The startup automates accounting for property owners and managers.

On the investment side, the firm received backing from major industry players in real estate, including .

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