A leading real estate fund manager has announced it is partnering with a new platform to drive more investment and start-up connections in the Asia-Pacific region, with a focus on the proptech and fintech sectors.
EG Funds Australia has announced it has joined forces with Techstars Global, becoming part of its Pathfinder membership program, which it believes will help aid its data approach to the real estate industry.
EG Funds CEO and founding director Adam Geha recently told REB that technology is even more important during the COVID-19 pandemic, as big data can help support human “gut feeling” when it comes to property investing.
Through a system called PRISMS — property risk management system — almost 30 key assumptions are being evaluated before every transaction is made.
“We generally like to flirt with data, but EG’s view is if you like the data, you should marry the data,” Mr Geha said.
EG Funds’ divisional director, Rodney Walt, believes the new partnership with Techstars will help build on the firm’s strong relationship with technology.
“EG has a strong track record in the technology space, having seen success with its in-house property risk management software PRISMS, developed by EG to identify, measure, price and manage the various risks associated with the acquisition of commercial property investments and the co-founding of Willow global technology company deploying Digital Twins for the built world,” Mr Walt said.
The fund highlighted its commitment to a technology approach, starting with data-driven investment at the core of its product line.
“We look forward to working with Techstars to accelerate opportunities for our investors,” Mr Walt stated.
Techstars believes successful businesses need to continue to find new opportunities to capitalise on future growth, with tech start-ups in the real estate sector a natural fit for EG Funds.
“As the world’s most active early-stage start-up investor, Techstars will be able to support EG with their investment and innovation agenda tapping into more than 2,100 portfolio companies from all over the world (with 500+ added each year) to provide up-to-date and detailed views across a wide range of interest areas, tailored introductions to interesting start-ups, and data-rich reports and analysis,” said Will Robinson, vice-president for Asia-Pacific at Techstars.