A Chicago-based venture capital firm that specializes in funding real estate tech startups has just closed on a new $33 million fund to help foster the next innovations in technology for real estate pros. On Tuesday, Moderne Ventures said it would use the $33 million to invest in early-stage startups in the real estate, home services, finance and insurance sectors.
Moderne Ventures was founded in 2015, and has already invested in a number of seed to Series B stage companies. Its investments have ranged from $300,000 to $3 million. The firm's founder is one Constance Freedman, who previously headed up the National Association of Realtor's venture capital arm, so he should know a thing or two about promising startups in the industry.
Besides providing financial assistance to startups, the firm also provides support via its Moderne Network, which is a group of over 400 corporate leaders that provide mentorship, industry expertise and business opportunities to the companies it backs. Moderne also operates a seven month accelerator program for startups called the Moderne Passport Program, providing additional guidance and mentorship.
Moderne Ventures is currently accepting applications to join its Spring 2017 program, so if you have a hot idea about real estate technology that you want to get off the ground, now's the time to apply.
“Moderne was founded on the principle that capital and expertise are no longer the only ingredients that drive success for early stage companies,” Freedman said in a statement. “In order to be truly transformative, we have created the Moderne Network that fosters a symbiotic relationship between entrepreneurs and more established businesses seeking to redefine how they operate by embracing new technologies.”
Moderne has previously invested in real estate startups such as TaskEasy, UrbanBound, Growth Geeks and Better Mortgage.