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South Africa’s first dedicated proptech fund

REdimension Capital founders Peter Clark and Matthew Marshall. (Image source: REdimension Capital)

REdimension Capital, an investment firm, has announced the first close of its inaugural fund focused on investing in early-stage technology companies that deliver improvements in the way property is development, managed and engaged

The REdimension Real Estate Technology and Sustainability Fund I has received support from leading stakeholders in South Africa’s real estate sector. In doing so, the fund has built an ecosystem of mutual value to deliver both investment and operating returns while accelerating technology adoption. 

It will target investment in companies developing high-impact solutions that operate at the convergence of real estate and technology and will focus on areas which have a clear value proposition to solve sector challenges. These include built-world technologies that aim to improve the way assets are experienced, streamline management processes and decision-making, and which accelerate the digitalisation of the real estate industry. REdimension Capital has also indicated that sustainability lies at the core of the fund mandate and is committed to supporting technologies that promote energy efficiency and reduce carbon footprints alongside local community engagement. 

REdimension Capital has reported that the fund has now achieved its first close target with commitments of more than R200mn (approximately US$10.7mn). Founding investors include Investec Property Fund, Growthpoint Properties and Rand Merchant Bank. It has also received further support from Liberty Two Degrees, Liberty Group and Sphere Holdings, amongst others. 

The company is expecting additional strategic commitments to be made to the fund before a final close on/before January 2025 with significant interest being registered from a range of co-investment partners. 

Founders of REdimension Capital, Peter Clark and Matthew Marshall, jointly stated, "We are thrilled to have achieved a first close for the REdimension Real Estate Technology and Sustainability Fund I. 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."