Top 6 Venture Capital Firms For Commercial Real Estate Startups

For founders in Commercial Real Estate, preparing to raise capital means knowing which investors truly understand your business. Identifying the right venture capital firms specializing in CRE or proptech is a critical first step before you start pitching.

To help with this process, our team at Rho has put together this overview of the top real estate technology venture capital firms. Use this guide as a starting point to quickly find investors who are active in your field.

Just raised, or about to? Set up your financial stack with Rho in minutes. We provide business banking, corporate cards, and bill pay—all built for startup teams moving fast.

Which VC Firms in Commercial Real Estate Are Right for Your Stage?

Knowing who to talk to is essential, whether you're an early-stage company or preparing for an exit. Here is a quick overview of the venture capital firms that invest in commercial real estate, broken down by stage.

Pre-seed and Seed VC Firms in Commercial Real Estate

Pre-seed and seed funding is the earliest capital you'll raise, typically used to validate your idea and build an initial product. For proptech founders, firms like Atlanta-based Shadow Ventures and MetaProp in New York are known for backing companies at this foundational stage.

Early Stage VC Firms in Commercial Real Estate

Early-stage rounds, like Series A and B, are for startups with a proven product and market fit that need capital to scale operations and grow their team. Some of the most active real estate tech venture capital firms in this space include Camber Creek and Chicago's Second Century Ventures.

Late Stage VC Firms in Commercial Real Estate

Late-stage funding supports mature companies as they expand into new markets, make acquisitions, or prepare for an exit like an IPO. If you're approaching this phase, you might connect with investors like Ruttenberg Gordon Investments or Second Century Ventures, which have experience guiding companies toward significant exits.

It's also worth noting that some venture capital firms invest across multiple stages, from seed to exit.

Here is our detailed overview of the top VC firms specializing in commercial real estate. We've included key details on their investment stages, geographic focus, and what makes each firm a strong potential partner for your startup.

1. Second Century Ventures

Based in Chicago, Second Century Ventures (SCV) is a venture capital firm focused on fostering innovation throughout the real estate industry. As a corporate venture fund, it brings a strategic perspective to its investments in property technology.

What makes SCV notable is its broad investment range, backing companies from early to late-stage venture rounds. Their portfolio includes major successes like DocuSign, demonstrating their experience in guiding companies toward significant, public exits.

SCV is likely a strong match for founders who have an established product and are seeking a strategic partner with deep industry ties. Given their multi-stage approach, they are a relevant contact whether you are scaling operations or preparing for a later funding round.

• Investment stages: Early to late-stage venture, convertible notes
• Industries of focus: Commercial Real Estate, Financial Services, Smart Home
• Geographical presence: Based in Chicago, Illinois
• Founded: 2009
• Portfolio highlights: Over 200 investments and 25 exits, including DocuSign

You can refer to their website here.

2. Camber Creek

Camber Creek is a venture capital firm that provides both capital and advisory services to technology companies focused on the real estate sector. Based in Rockville, Maryland, they support businesses that are building new solutions for the industry.

The firm invests across multiple stages, from seed to late-stage venture, giving them a wide view of the market. Their portfolio includes notable companies like Latch, a smart-lock platform that went public, and Arcadia, a utility-data platform that reached unicorn status.

Camber Creek could be a great partner if you are a founder in the property technology space looking for more than just a check. Their multi-stage investment strategy and advisory support make them a good fit for companies at various growth points.

• Investment stages: Seed, early-stage, and late-stage venture
• Industries of focus: Commercial Real Estate, Retail Technology, Smart Home
• Geographical presence: Based in Rockville, Maryland
• Founded: 2009
• Portfolio highlights: Over 70 investments and 18 successful exits

You can refer to their website here.

3. Ben Franklin Technology Partners of Southeastern Pennsylvania

Ben Franklin Technology Partners of Southeastern Pennsylvania is a Philadelphia-based investor that supports regional economic growth through technology. They function as both a venture capital firm and an accelerator, providing capital to promising startups in the area.

A unique aspect of their model is the inclusion of grants alongside traditional seed and early-stage venture funding, offering a different kind of support for new companies. Their track record includes a major exit with InstaMed, a healthcare payments company acquired by JPMorgan Chase.

This firm is a strong potential partner if you are an early-stage founder, particularly if your company is based in the greater Philadelphia area. Their focus on economic development and grant funding can be especially valuable for startups at the pre-seed or seed stage.

• Investment stages: Early-stage venture, seed, grant
• Industries of focus: Commercial Real Estate, Financial Services, Government
• Geographical presence: Based in Philadelphia, Pennsylvania
• Founded: 1982
• Portfolio highlights: Over 232 investments and 44 exits, including InstaMed

You can refer to their website here.

4. MetaProp

MetaProp is a New York-based venture capital firm and accelerator with a singular focus on the property technology (PropTech) sector. They invest in companies that are building new technologies for the real estate industry.

Their model as both a venture fund and an accelerator is a key feature, suggesting they provide hands-on support beyond just capital. Their portfolio includes high-growth companies like HqO and successful exits like Blueprint Power, which was acquired by BP.

MetaProp is an ideal partner if you are an early-stage PropTech founder seeking an investor with deep industry expertise and an active support system. Given their multi-stage investment approach, they can also be a long-term partner as your company grows.

• Investment stages: Seed, early-stage, and late-stage venture
• Industries of focus: Property Technology, Commercial Real Estate
• Geographical presence: Based in New York, New York.
• Founded: 2015
• Portfolio highlights: HqO, Saltbox, VergeSense, and an exit with Blueprint Power (acquired by BP)
• Investor type: Venture Capital and Accelerator.

You can refer to their website here.

5. Shadow Ventures

Shadow Ventures is an Atlanta-based venture capital firm that invests exclusively in technology for the built environment, including construction and real estate. As both an accelerator and a venture capital investor, they provide early-stage companies with capital and hands-on support.

The firm concentrates on seed and early-stage investments, backing companies with technology that can innovate within the industry. Their portfolio includes ICON, a 3D-printed construction unicorn, and successful exits like InfoTycoon, showing their ability to support high-growth companies.

Shadow Ventures is a strong potential partner if you are an early-stage founder building technology for the construction or real estate sectors. Their accelerator model suggests they are a good fit for teams seeking active guidance alongside their initial funding.

• Investment stages: Early-stage venture, seed
• Industries of focus: Commercial Real Estate, Construction, PropTech
• Geographical presence: Based in Atlanta, Georgia
• Founded: 2018
• Portfolio highlights: ICON (unicorn), InfoTycoon (exit), OnScale (exit)
• Investor type: Venture Capital and Accelerator

You can refer to their website here.

6. Ruttenberg Gordon Investments

Ruttenberg Gordon Investments is a New York-based family investment office that operates across venture capital and private equity. The firm makes both equity and debt investments in real estate and high-growth technology companies.

A key characteristic is their flexible, multi-stage investment approach, covering everything from seed rounds to late-stage private equity. Their portfolio includes major public companies like DraftKings and Spotify, showing a strong track record with consumer and enterprise technology beyond just real estate.

This firm could be a good fit for founders seeking a long-term partner that can invest across multiple funding rounds. Their success with major tech brands suggests they are a strong match for ambitious companies with the potential for massive scale.

• Investment stages: Seed, early-stage, late-stage venture, private equity, convertible note
• Industries of focus: Commercial Real Estate, Venture Capital, Private Equity
• Geographical presence: Based in New York, New York
• Founded: 2013
• Portfolio highlights: DraftKings, Snap Inc., Spotify, Boom Supersonic, Scale AI
• Investor type: Family Investment Office, Venture Capital, Private Equity Firm

You can refer to their website here.

What This Tells Us About The VC Scene for Commercial Real Estate Companies

Our overview shows that the investment scene for commercial real estate technology is quite balanced. You'll find strong support at the early stages, with firms like Shadow Ventures and MetaProp specifically targeting seed and Series A rounds. Many investors, including Camber Creek and Second Century Ventures, also invest across multiple stages, providing a path for long-term growth.

Geographically, the firms are not just in one or two major tech hubs. With investors in New York, Chicago, Atlanta, and the Mid-Atlantic, you have options across the country. For you as a founder, the key takeaway is that there is a healthy variety of capital available. Your next step is to match your company's stage and goals with the right investor profile.

Raise Confidently with Rho

Having a focused list of investors saves you critical time and energy during a fundraise. We hope this guide helps you connect with the right partners for your company's growth.

Once your round is closed, the work of managing that capital begins. Rho can help you set up your financial stack in minutes.

Our platform gives you the tools to manage your new funding with confidence. We offer integrated business banking, corporate cards, and bill pay designed for startups.

FAQs about Venture Capital Firms Focused on Commercial Real Estate

Are there real estate venture capital firms in Austin, TX?

Yes, Austin is a major tech hub with investors interested in high-growth sectors. While many of the specialized proptech VCs are based elsewhere, they often invest nationally. Local Texas-based VCs are also worth exploring for your real estate startup.

What are the top proptech VC firms in the Bay Area?

While the Bay Area has many top-tier VCs, proptech-specific funds are located across the country, including New York and Chicago. Founders should look at both local generalist VCs and national real estate technology specialists for the best fit.

How do I find the right proptech VC firms for my early-stage startup?

Focus on firms that explicitly invest in your stage. Review their current portfolio to see if your company aligns. Consider if you need a hands-on partner, like an accelerator, or just capital to support your growth plans.

What do commercial real estate venture capital firms look for?

Investors look for a strong founding team with industry knowledge, a clear solution to a significant problem in the commercial real estate market, and evidence of traction. A scalable business model is also essential for securing funding.

How can I manage my funds after a successful raise?

Once your round closes, you need a solid financial stack. Our platform helps you manage your new capital with integrated business banking, corporate cards, and payment tools. You can get started with Rho in minutes.