Investment firm, REdimension Capital, has announced its first close of its inaugural fund, the REdimension Real Estate Technology and Sustainability Fund, receiving total commitments of over R200 million from leading, forward-thing stakeholders in the real estate sector.
The unique fund will focus on investing in early-stage innovative technology companies that deliver demonstrable improvements in the way in which property is developed, managed, and engaged with.
The fund’s founding investors include Investec Property Fund, Growthpoint Properties, and Rand Merchant Bank with further support from investments by Liberty Two Degrees, Liberty Group, and Sphere Holdings, among others.
Its founding investors provide a significant strategic underpin with over 650 properties across sectors directly under management and the portfolio represents over 11 million square metres of gross lettable space valued at over R235 billion. Furthermore, it is anticipated that additional commitments will be made before the final close on or before January 2025.
“We are thrilled to have achieved a first close for the REdimension Real Estate Technology and Sustainability Fund. It marks a significant milestone in the evolution of property technology investment in South Africa. We are grateful for the support received from our founding investors and look forward to delivering for them while creating a meaningful and lasting positive impact on the markets in which we operate,” commented Peter Clark and Matthew Marshall, founders of REdimension Capital.