Investors in the LAB Ventures PropTech Rolling Fund will get access to the best early-stage startups through a diversified portfolio that would be difficult if not impossible to assemble on their own. The fund targets above average investment returns based upon the team’s deep experience selecting and working with early-stage entrepreneurs, extensive network and advantaged access to proprietary deal flow, and a strict focus on the real estate and construction vertical, where outsized returns are expected. In addition, investors gain strategic insight to technology trends affecting their industry, and the chance for early access to innovative solutions for their businesses. The LAB Ventures team supports investors with data from their entire deal pipeline, not just the deals they end up investing in.
We've been following LAB Ventures for a couple of years now and are very impressed with what they have built in the PropTech space. We get access to new technologies that our operating companies can pilot, and early stage startups that we may eventually invest in directly.
Our focus is on early-stage technology businesses that serve the Real Estate and Construction industries - Property Technology, or “PropTech” for short. We take a very broad view of what is included in PropTech, but have a preference for software over hardware, recurring revenue, and enterprise over consumer.
At what stage do you invest?
We typically invest in companies from early seed to Series A, but we are opportunistic and sometimes participate in later stage deals where we can add value. We seek pro-rata rights and will often invest in multiple rounds as our portfolio companies as they grow.
Is there a minimum commitment?
Investors may subscribe for as little as $25,000 per quarter for a minimum of four quarters
How will LAB Ventures source potential investments?
Investment opportunities come from a wide variety of sources, including referrals from the fund’s LPs, many of whom operate in the real estate and construction industries; referrals from other PropTech investors and from generalist VC firms; inbound pitches received by the fund; from attending conferences (including Blueprint, where the fund is a major sponsor); accelerator and incubator programs; and from the LAB Ventures Studio, which will give the fund a right of first offer on all new startups it launches.
How do pro-rata rights work?
As a rolling fund, the LAB PropTech Fund does not reserve capital for follow-on investments. We do attempt to secure pro-rata rights, which we share with our investors on a deal-by-deal basis with the following prioritization:first to LPs who invested in the fund in the quarter of the original investment then to fund itself from current quarter’s available capital then to all LPs with current subscriptions.
How is this program different from traditional venture fund investing?
LAB PropTech Fund is structured as a series of quarterly funds. Unlike investing in a traditional venture fund, when an LP invests in LAB PropTech Fund an LP follows a flexible, quarterly investment schedule rather than a one-time commitment to a fund. An LP participates in investments LAB PropTech Fund makes for each quarterly fund the LP invests in. LPs can subscribe for future quarterly funds in advance and easily commit more or less capital as their investment goals change.
Are there co-investment opportunities?
Opportunities which are too large for the fund may be syndicated through an SPV, with priority allocation to current subscribing LPs.
Who is eligible to invest?
Only accredited investors may invest in the fund. Angel List will verify each investors accredited status at the time of subscription.
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We invest in early-stage real estate and construction technology companies.