USA – RET Ventures, a Park City, Utah-based venture capital firm focused on technologies for the multifamily, single-family rental (SFR), homebuilding and broader real estate asset classes, closed its second fund.
The $165m fund, which complements RET’s $109m initial fund raised in November 2018, is backed by RET’s base of strategic Investors, including more than 40 leading multifamily and single-family real estate owners, operators and developers in North America who serve as technology development partners and customers for the startups RET invests in. Participants in RET Ventures Fund II include affiliates of major multifamily real estate investment trusts (REITs) including Essex Property Trust, Inc., Invitation Homes, Inc., Mid-America Apartment Communities, Inc. (MAA) and UDR, Inc. and as well as private owners and managers such as BH Management, Bozzuto, Cortland, Edward Rose & Sons, Greystar Real Estate Group, Starlight Capital, Starwood Capital Group and Waterton. The group collectively owns or manages approximately 2.4 million rental units and includes 9 of the top 20 multifamily owners and 9 of the top 20 managers, as ranked by the National Multifamily Housing Council.In addition to its investors throughout the multifamily sector, RET has continued to expand its reach across the real estate industry. The group of Strategic Investors now includes the two largest SFR operators — Invitation Homes, Inc. and Pretium (Progress Residential) — which together own / operate a combined 135,000 units, nearly 50% of institutionally owned SFR units across the U.S.Led by John Helm, Founder and Partner, and Christopher Yip, Partner, RET Ventures has backed SmartRent, CheckpointID, Falkbuilt, Funnel, GiGstreem, Kasa, and SightPlan, among the others. 09/06/2021
