A Chicago venture capital firm that invests in real estate tech startups just closed a $33 million fund to help grow the next innovations in real estate.
Moderne Ventures announced Tuesday that it has closed a $33 million venture fund to invest in early-stage startups in real estate, finance, insurance and home services.
Founded in 2015, Moderne Ventures invests in seed to Series B stage companies, with investments that range from $200,000 to $3 million. The firm was founded by Constance Freedman, who formerly led the investment arm of the National Association of Realtors, Second Century Ventures.
Along with financial assistance, Moderne Ventures says it offers startups additional support through its Moderne Network, a group of more than 400 corporate leaders who help give industry expertise and provide business opportunities to portfolio companies. Moderne also runs a seven-month accelerator program called the Moderne Passport Program, which gives startups extra guidance and mentorship. Moderne says it's currently accepting applications for its 2017 spring program.
“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 invested in companies such as TaskEasy, UrbanBound, Growth Geeks and Better Mortgage.
