New South African proptech fund backed by Investec, Growthpoint and RMB

REdimension Capital, a South African investment firm, announced the first close of its inaugural fund, the REdimension Real Estate Technology and Sustainability Fund I. The fund will focus on investing in early-stage technology companies that deliver demonstrable improvements in the way property is developed, managed and engaged with.

The fund has achieved its first close target having received total commitments of over R200 million (c. $10.8 million). The fund’s founding investors include Investec Property Fund, Growthpoint Properties and Rand Merchant Bank. The fund is further supported with investment from Liberty Two Degrees, Liberty Group and Sphere Holdings, among others.

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