Having raised its target from $150m to $165m, Tishman Speyer is roughly two-thirds of the way to its goal raise.

Credit: Sven Mieke / Unsplash

Real estate developer Tishman Speyer has raised just over $108m for its first proptech venture fund, according to a filing with the Securities and Exchange Commission.

The New York-based developer, which received the first commitments for the fund back in February last year, is targeting a total of $165m for the venture vehicle, called Tishman Speyer Proptech Venture Fund. To date, it’s received commitments from 13 investors.

It had initially been targeting $150m and received anchor commitments from National Pension Service of Korea and Investment Management Corporation of Ontario.

Earlier this year, Tishman Speyer led a $16m series A round for office space management provider Gable, which followed earlier investments over recent years into startups like budget tracking software Monograph, augmented-reality technology developer for construction XYZ Reality, and real estate software developer VTS.

Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.