Top 14 Venture Capital Firms for Real Estate Startups

When you're preparing to raise capital for your Real Estate or PropTech startup, knowing which investors focus on your space is critical. Finding the right partner can make all the difference in your company's trajectory.

To help with your search, our team at Rho curated this guide to the top real estate venture capital firms. We've highlighted key PropTech VC firms to give you a clear starting point for your fundraising research.

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 Real Estate Are Right for Your Stage?

Whether you're an early-stage company or preparing for an exit, knowing who to talk to is essential. Here is a quick overview of which venture capital firms in the real estate sector invest at each stage.

Pre-seed and Seed VC Firms in Real Estate

Pre-seed and seed funding is the initial capital you'll raise to validate your idea and build a minimum viable product. For PropTech startups, firms like New York-based Great Wave Ventures and MAGIC Fund focus on this crucial first stage, as does Recursive Ventures.

Early Stage VC Firms in Real Estate

Early-stage funding, typically Series A and B, is for companies with proven traction that need capital to scale their operations and team. Several real estate technology venture capital firms specialize here, including the well-known PropTech VC firm MetaProp, Boston-based Suffolk Technologies, and Prudence.

Late Stage VC Firms in Real Estate

Late-stage capital is for established companies preparing for significant growth, a potential acquisition, or an initial public offering (IPO). Prominent investors in this space include ICONIQ Capital and WestCap, while Chicago's Moderne Ventures also provides growth equity for mature businesses.

It's also worth noting that some real estate VC firms invest across multiple funding stages, from seed to growth.

To help you find the right partner, we've gathered more information on the top VC firms in the real estate industry. The following list covers their investment stages, where they invest, and what distinguishes each firm for founders like you.

1. Third Sphere

Third Sphere is an early-stage venture fund that invests in companies driving significant climate action. They focus on scalable solutions that can deliver both outsized environmental impact and strong financial returns.

A key characteristic is their multi-stage approach, investing from seed rounds through to private equity. Their portfolio includes companies like Avvir, a construction analytics startup acquired by Hexagon, showing their interest in the built environment.

This firm could be a great fit if your startup is focused on climate tech, particularly within real estate or smart buildings. Founders seeking a partner with a track record of scaling companies for major exits may find them compelling.

• Investment stages: Seed, Early Stage Venture, Private Equity
• Industries of focus: CleanTech, GovTech, Real Estate, Smart Building
• Geographical presence: Based in New York, New York
• Founded: 2013
• Notable portfolio companies: Avvir, Blueprint Power, Bowery Farming
• Portfolio size: Over 130 investments

You can refer to their website here.

2. WestCap

WestCap is a strategic operating and investment firm that backs tech-enabled marketplaces with asset-light business models. They invest across the company lifecycle, from early-stage venture rounds to private equity.

A key feature is their multi-stage investment strategy, covering early and late-stage venture as well as private equity. Their portfolio includes household names like Airbnb and Klarna, alongside successful companies like the sustainable financing lender GoodLeap.

Founders building tech-enabled marketplaces, particularly in FinTech or Real Estate, may find WestCap to be a strong partner. The firm is well-suited for companies with asset-light models seeking an investor with operational expertise to support significant growth.

• Investment stages: Early Stage Venture, Late Stage Venture, Private Equity
• Industries of focus: Finance, FinTech, Real Estate, Marketplaces
• Geographical presence: Based in New York, New York
• Founded: 2019
• Notable portfolio companies: Airbnb, GoodLeap, Hopper, Klarna
• Portfolio size: Over 60 investments

You can refer to their website here.

3. Moderne Ventures

Moderne Ventures is a strategic venture capital and growth equity firm based in Chicago. They operate across multiple stages, from early venture to private equity, and also run an accelerator program.

A key aspect of Moderne Ventures is their broad industry focus, which spans real estate, finance, and insurance. Their portfolio highlights a strong history of successful exits, including the DocuSign IPO and the acquisition of August Home.

This firm is a good match for founders in the real estate, finance, or insurance sectors seeking a strategic partner. Companies from early-stage to growth-stage can benefit from their multi-stage investment approach and strong exit record.

• Investment stages: Early Stage Venture, Late Stage Venture, Private Equity
• Industries of focus: Real Estate, Finance, FinTech, Insurance, Sustainability
• Geographical presence: Based in Chicago, Illinois
• Founded: 2015
• Notable portfolio companies: DocuSign, August Home, Airside, Avvir, Bento
• Portfolio size: Over 100 investments

You can refer to their website here.

4. ICONIQ Capital

ICONIQ Capital is a private investment firm based in San Francisco that serves some of the world's most influential families and organizations. They combine the functions of a family office with a formidable venture capital and private equity practice.

A key characteristic is their capacity to invest across a company's full lifecycle, from early venture stages to post-IPO. Their portfolio features major public companies like Airbnb and the construction management platform Procore Technologies, showing their focus on backing category leaders.

This firm is a strong match for founders building businesses with clear potential for large-scale growth and a public market exit. Companies seeking a long-term financial partner with access to a unique global network may find ICONIQ to be an ideal fit.

• Investment stages: Early Stage Venture, Late Stage Venture, Private Equity, Post-IPO
• Industries of focus: Finance, Internet, Real Estate, Venture Capital
• Geographical presence: Based in San Francisco, California
• Founded: 2011
• Notable portfolio companies: Airbnb, Adyen, Alibaba, Datadog, Procore Technologies
• Portfolio size: Over 80 investments

You can refer to their website here.

5. Suffolk Technologies

Suffolk Technologies is a venture capital firm that invests in startups tackling challenges within the built environment. They focus on supporting the next wave of companies in construction, real estate, and infrastructure.

A key aspect of their approach is investing across both early and late venture stages, with a clear focus on the construction and real estate sectors. Their portfolio includes companies like the construction robotics firm Canvas and Measurabl, an ESG data platform for real estate.

This firm is a strong fit for founders developing technology for the construction, real estate, or infrastructure industries. Companies with solutions in green or smart buildings may find Suffolk's specific expertise particularly valuable.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Building Material, Construction, Financial Services, Green Building, Infrastructure, Real Estate, Smart Building
• Geographical presence: Based in Boston, Massachusetts
• Founded: 2019
• Notable portfolio companies: EquipmentShare, Canvas, Measurabl, Diamond Age
• Portfolio size: 41 investments

You can refer to their website here.

6. Recursive Ventures

Recursive Ventures is a micro VC firm that invests in seed-stage tech startups across the US and Israel. They concentrate on companies using data and artificial intelligence to create new opportunities in established industries.

A key characteristic of the firm is its track record of backing high-growth companies that achieve major exits, such as the smart-doorbell maker Ring and the global payroll platform Deel. This history signals a focus on businesses with the potential for massive scale and significant market impact.

This firm is a strong match for founders of early-stage, data-centric companies in their target regions. If you are building a business with unicorn potential, their experience guiding companies toward acquisition or IPO could be invaluable.

• Investment stages: Early Stage Venture, Seed
• Industries of focus: Artificial Intelligence (AI), Finance, FinTech, Insurance, Internet, IT Infrastructure, Mobile, Real Estate
• Geographical presence: Based in Albany, California; invests in US and Israeli startups
• Founded: 2015
• Notable portfolio companies: Ring, Deel, Placer.ai, Life360
• Portfolio size: 48 investments

You can refer to their website here.

7. MAGIC Fund

MAGIC Fund is an early-stage venture capital fund with a unique model: it's built by founders, for founders. They invest in seed and early-stage companies across a variety of sectors, including FinTech and Real Estate.

Their approach is centered on a global community of founders who support one another, a clear advantage for portfolio companies. This model has helped them back high-growth businesses like the small business digital bank Bank Novo.

The firm is a strong choice for founders at the seed or early stages who value a peer support network. Their experience across FinTech, SaaS, and Real Estate makes them a versatile partner for companies in those sectors.

• Investment stages: Early Stage Venture, Seed
• Industries of focus: FinTech, Health Care, Real Estate, SaaS, E-Commerce
• Geographical presence: Based in Los Angeles, California
• Founded: 2017
• Notable portfolio companies: Retool, Bank Novo, Payfazz, Frubana
• Portfolio size: Over 170 investments

You can refer to their website here.

8. Great Wave Ventures

Great Wave Ventures is an early-stage venture capital fund that invests in companies shaping the future of the built world. Based in New York, they concentrate on foundational industries like construction, real estate, and sustainability.

A key characteristic is their clear focus on seed and early-stage startups, with a portfolio that includes ambitious projects like Culdesac, which is building a large-scale car-free neighborhood. The firm also has a record of successful exits, such as the acquisition of the enterprise carbon-management platform Sustain.Life.

This firm is a strong match for founders whose companies operate at the intersection of technology and the physical environment. If you are at the seed or early stage with a focus on real estate or construction, they are a relevant investor to consider.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Construction, Real Estate, Sustainability
• Geographical presence: Based in New York, New York
• Founded: 2020
• Notable portfolio companies: Culdesac, Venus Aerospace, Array Labs
• Portfolio size: 32 investments

You can refer to their website here.

9. Prudence

Prudence is a venture capital firm that invests in technology companies leading the transformation of the built world. They back startups that are fundamentally changing the real estate and financial services sectors.

A key aspect of their strategy is investing across a company's full lifecycle, from seed rounds to private equity. Their portfolio includes major real estate tech successes like the Compass IPO and the commercial real estate marketplace CREXi.

This firm is a strong fit for founders building technology platforms in real estate or adjacent financial industries. Companies seeking a long-term partner to support them from early growth to a public exit may find Prudence to be an ideal investor.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Private Equity
• Industries of focus: Real Estate, Finance, Financial Services
• Geographical presence: Based in New York, New York
• Founded: 2009
• Notable portfolio companies: Compass, Properly, Blockchain.com, CREXi
• Portfolio size: 33 investments

You can refer to their website here.

10. MetaProp

MetaProp is a venture capital firm dedicated exclusively to the PropTech industry. They operate as both an accelerator and a traditional VC, supporting companies from their earliest stages onward.

A key characteristic is their singular focus on real estate technology, with investments spanning seed to late-stage venture. The firm has backed notable companies like the workplace experience platform HqO and saw a successful exit with Blueprint Power's acquisition by BP.

This firm is an excellent match for founders building technology solutions specifically for the real estate sector. If your company is in PropTech, their industry-specific expertise and accelerator program can provide critical support.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: PropTech, Commercial Real Estate
• Geographical presence: Based in New York, New York
• Founded: 2015
• Notable portfolio companies: HqO, Saltbox, Ergeon, VergeSense
• Portfolio size: 177 investments
• Number of exits: 21

You can refer to their website here.

11. Kairos HQ

Kairos HQ operates as both an incubator and venture capital firm, building and investing in companies that make life more affordable and simpler. They focus on major consumer sectors like financial services, healthcare, and real estate.

A key characteristic is their portfolio of brands tackling significant household expenses, from rent to healthcare. Their notable companies include Bilt Rewards and Rhino, which show a commitment to solving practical financial challenges for consumers.

This firm is a strong match for founders creating consumer-facing businesses that address everyday affordability issues. If your startup aims to build a strong brand in fintech, health, or proptech, their hands-on, incubator-style approach could be a significant asset.

• Investor type: Incubator, Venture Capital
• Industries of focus: Financial Services, FinTech, Health Care, Real Estate
• Geographical presence: Based in New York, New York
• Founded: 2017
• Notable portfolio companies: Bilt Rewards, Rhino, Little Spoon, Alloy
• Portfolio size: 23 investments

You can refer to their website here.

12. Derive Ventures

Derive Ventures is a venture capital firm that invests in companies advancing the travel and hospitality sectors. Based in San Francisco, they support founders building technology to improve how people experience the world.

A key aspect of their strategy is a sharp focus on travel, hospitality, and real estate technology, from seed to late-stage rounds. Their portfolio includes high-growth companies like the rent rewards platform Bilt Rewards and the hotel tech provider Canary Technologies.

This firm is a strong match for founders building software for the travel, hospitality, or adjacent real estate industries. If your company is creating tech-enabled solutions for these markets, Derive's industry expertise could be a significant asset.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Hospitality, Leisure, Real Estate, Software, Travel
• Geographical presence: Based in San Francisco, California
• Founded: 2021
• Notable portfolio companies: Bilt Rewards, Canary Technologies, Scale Computing, Cardless, Rain
• Portfolio size: 26 investments

You can refer to their website here.

13. GS Futures

GS Futures is a corporate venture capital firm that makes strategic, early-stage investments in sectors like construction, energy, and real estate. They focus on seed and early-stage startups primarily in the sustainability and consumer industries.

A key part of their strategy is backing high-growth companies, with a portfolio that includes unicorns like the blockchain protocol LayerZero Labs and the autonomous-drone maker Skydio. Their track record also includes a successful exit with the energy-data company AutoGrid.

This firm is a strong match for founders at the seed or early stages who are building in their target industries and would benefit from a strategic corporate partner. If your company has clear potential for large-scale growth, they are a relevant investor to consider.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Construction, Consumer, Energy, Real Estate, Sustainability
• Geographical presence: Based in San Mateo, California
• Founded: 2020
• Investor type: Corporate Venture Capital
• Notable portfolio companies: Skydio, LayerZero Labs, Nowports, Heirloom
• Portfolio size: 40 investments

You can refer to their website here.

14. Alexandria

Alexandria operates as the strategic venture capital arm of Alexandria Real Estate Equities, a leading real estate investment trust. Their investment strategy is closely tied to their parent company's focus on developing life science and technology campuses.

The firm's primary characteristic is its deep concentration in the life sciences and biotech sectors, a direct reflection of its parent's real estate business. They support companies across the full lifecycle, from seed to private equity, and have backed major successes like the therapeutics firm Disc Medicine through its IPO and biotech platforms like Kallyope and Immunai to unicorn valuations.

This firm is an excellent match for founders in the life sciences, therapeutics, or biotech fields, rather than general real estate tech. If you're building a science-heavy company and value a strategic partner with deep industry connections and a long-term view, Alexandria is a strong contender.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Private Equity, Convertible Note
• Industries of focus: Life Sciences, Biotechnology, Real Estate
• Geographical presence: Based in San Francisco, California
• Founded: 1994
• Investor type: Corporate Venture Capital
• Notable portfolio companies: Kallyope, Disc Medicine, Immunai, Ventus Therapeutics
• Portfolio size: 44 investments
• Number of exits: 20

You can refer to their website here.

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

This list of firms shows a healthy and well-balanced investor community for real estate and PropTech companies. You'll find capital available across the entire company lifecycle, from pre-seed and seed specialists to firms that provide late-stage growth equity. There isn't a heavy concentration in just one area, which is good news for founders at any stage.

Geographically, many of these investors are based in major hubs like New York and California, but their investment mandates are often much broader. The variety of investor types—from pure PropTech specialists to generalist funds and corporate VCs—means you have options for finding a partner whose focus aligns with your specific goals.

Raise Confidently with Rho

Having a focused list of relevant investors is a major advantage. It saves you critical time and energy during a fundraise, letting you concentrate on the firms most likely to be a good fit.

If you’ve just raised, Rho can help you set up your financial stack in minutes. We provide the tools you need to manage your new capital with confidence and control.

Our platform offers integrated business banking, corporate cards, and automated bill pay. These solutions are built for startups, helping you manage your funds efficiently from day one.

FAQs about Venture Capital Firms Focused on Real Estate

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

Yes, Austin is a growing hub for technology and has several venture capital firms that invest in real estate tech. While not all are exclusively focused on PropTech, many generalist and tech funds in the area are open to it.

What do PropTech VC firms look for in a startup?

PropTech VC firms typically look for a strong founding team with industry experience, a clear, scalable business model, and a product that solves a significant pain point. Demonstrated market traction and a large addressable market are also critical.

Should I approach a specialist PropTech VC or a generalist firm?

Specialist PropTech VCs offer deep industry knowledge and networks. Generalist firms may provide broader operational support. Your choice depends on whether you need specific sector expertise or a more versatile partner for growth across different functions.

How important is a warm introduction to real estate VC firms?

A warm introduction is highly effective as it provides initial validation and can get your pitch reviewed faster. Many real estate VC firms receive a high volume of inquiries, so a personal connection helps you get noticed.

What is the role of corporate venture capital in real estate tech?

Corporate venture capital firms, often tied to large real estate or construction companies, can provide strategic value beyond money. This includes industry expertise, pilot opportunities, and access to a large customer base for your startup.

How can Rho help after I secure funding from a VC?

Once you've secured funding, our platform helps you manage it effectively. We offer integrated business banking, corporate cards, and automated payments, all designed for startups. You can get started with Rho in minutes.