The new fund – Axeleo Proptech 1 – will invest in high-potential European startups that respond to the main challenges of real estate and construction industries
Axeleo Capital today announced the initial closing of its acceleration fund “Axeleo Proptech 1”. This new investment vehicle aims to reach £45.18 million (€50 million) and has already completed an initial round of £31.63 million (€35 million) syndicated with the Banque des Territoires, on behalf of the French State, international corporate and financial institutions (RTE, Vinci Energies, Allianz France, Groupe VYV), the Île-de-France Region and European family offices.
Axeleo Proptech 1 will invest in high-potential European startups that respond to the main challenges of real estate and construction industries; in particular by disrupting usage and addressing social and environmental market needs.
Eric Burdier, the Co-founder and Chairman of Axeleo Capital stated: Proptech is an industry that sits at the crossroads of digital technologies and traditional trades and which has not yet been very receptive to innovation: 0.1% of the added value invested in R&D, i.e. 24 times less than the average of the other sectors (source: EY). Axeleo Capital has already experienced the market with Deepki in 2016, and it was important to us to bring this project to fruition in order to be the 1st acceleration fund specialising in Proptech. In addition to our native ecosystem of serial entrepreneurs, we have brought together a pool of leading LPs committed to the transformation of the industry.
Mathias Flattin, partner at Axeleo Capital, added: “This project is a response to the strong momentum affecting the European property market. Driven by demographic and environmental pressures and a social paradigm shift, real estate must become more productive, frugal and sustainable, and this will necessarily require innovation.”
This sectoral investment vehicle is targeting European proptechs (property technology) in the seed stage. This segment counts about 3,000 startups in Europe, of which 85% are in seed phase, which demonstrates both the need for strategic and operational support for these young companies and the strength of this new wave of innovation that must be supported. According to Axeleo’s own acceleration model that combines investment and support since 2017, each startup will be backed in the maturation of its commercial offer and in the acceleration of its commercial strategy.
Thanks to this new investment vehicle, the funds managed by Axeleo Capital total £72.29 million (€80 million). The AMF-accredited management company now has a team of 9 people based in France, in Lyon and Paris. It is headed by Eric Burdier, Chairman and Mathieu Viallard, Managing Director.
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