The South African venture capital firm known as REdimension Capital has been successful in raising more than ten million dollars in funding for its first fund known as REdimension Real Estate Technology and Sustainability Fund I.
Investec Property Fund, Growthpoint Properties, and Rand Merchant Bank were the driving forces behind the financing round. In addition, it obtained financial backing from a variety of investors, including Liberty Two Degrees, Liberty Group, and Sphere Holdings, amongst others.
The REdimension Real Estate Technology and Sustainability Fund I was established in 2021 by Peter Clark and Matt Marshall with the intention of providing financial backing to businesspeople who are developing digital solutions for the real estate industry. In addition, the company intends to provide financial support to organisations that work towards improving sustainability by reducing their energy use and their carbon footprint.
Read also: Nigerian insurtech startup MyCover.ai secures $1.25m pre-seed funding
What REdimension Capital says
REdimension Capita’s founders Peter Clark and Matthew Marshall, said: “We’re ecstatic about accomplishing a first close for the REdimension Real Estate Technology and Sustainability Fund.”
“It signifies a substantial landmark in developing property technology investment in South Africa. We appreciate the support from our founding investors and are eager to perform for them while forging a significant and enduring positive influence on the markets we operate in.”
In addition, the overall amount raised was 13% larger than the amount raised the year before, which is an indication of increased investor interest. Additionally, the majority of the stated prop-tech deals were completed in the countries of Egypt and Nigeria.
The corporation anticipates that the ultimate closing of the fund will take place no later than January 2025 at the earliest.
About REdimension Capital
REdimension Capital is a venture capital firm that was established in the year 2021 and is headquartered in Johannesburg, South Africa. The company is looking to make investments in seed-stage, early-stage, and later-stage businesses that are working in the real estate technology and clean technology industries.
The mission of REdimension Capital is to increase the operational performance of the built world while simultaneously increasing its level of sustainability.
They have established a venture capital strategy that is advisory-based, and they collaborate closely with strategic corporate partners to advise, invest, and develop in the field of future technology. Their ability to question established ways of thinking enables our investors to better prepare their businesses for the future. REdimension Capital provides financial support to the most innovative business owners, namely those who are reimagining both the user experience and the environmental impact of the built environment.
There are a number of venture capital firms in Nigeria that you can approach for investment opportunities. Some examples of these firms include Greenhouse Capital, Micro traction, and Ventures Platform. Angel investors often provide smaller amounts of money, while venture capital firms typically contribute significantly more money and may take a more active role in assisting you to expand your business.
This fund would be useful in advancing the operations of the VC firm and enable them to empower startups better.
