Clelia Warburg Peters, Era Ventures’ founder, is the first woman to raise an initial fund of this size in the real estate category. The fund will distribute capital across various stages of innovation.
Proptech venture capital firm Era Ventures has launched its inaugural $88 million real estate fund, it announced on Wednesday. The firm will distribute capital across various stages and a wide variety of industry innovations, from solutions that improve existing processes to those that completely reshape the real estate industry.
Era is actively looking to invest in seven core business models the firm believes are driving industry change, including (but not limited to) software as a service (SaaS) and artificial intelligence (AI), marketplaces, embedded fintech, and hardtech ventures leveraging new technologies to optimize physical assets.
“We are proud to have invested in and to support Era Ventures in its mission to drive transformational change in the real estate sector,” Jeff Assaf, chief investment officer at ICG Advisors, said in a statement.
The firm was founded in 2022 by real estate vet Clelia Warburg Peters, who is also the daughter of Warburg Realty founder Frederick Warburg Peters. Thus far, Era Ventures has gained strong institutional investor support.
Peters has long been involved in proptech and is now the first woman to raise an initial fund of this amount in the real estate category. Additionally, Peters has served as an Inman Contributor and editor-at-large, and is a frequent moderator and speaker at Inman events.
“Era Ventures is leveraging our unique blend of institutional backing, top-tier venture experience, and deep real estate expertise to bring both rigor and care to driving transformational change in the physical world,” Peters said in a statement.
As construction productivity continues to grow incrementally by about 1 percent each year, and since buildings consume about 30 percent of global energy, Era argues that innovation is urgently required.
“Era is not about playing it safe — we’re not just looking to digitize old processes in real estate and construction,” Raja Ghawi, partner at Era Ventures, said in a statement.
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