Grosvenor Invests in Europe’s Largest Property Tech VC Fund

London, July 1, 2024 – Grosvenor Property UK, a leading player in the real estate sector, has made its first investment in a venture capital (VC) fund, signalling its commitment to driving positive change within the industry. The recipient of this strategic investment is noa (formerly known as A/O), Europe's largest venture capital firm focused on the built world.

Founded in 2019, noa has a bold vision: to transform the real estate industry into a more digital, efficient, and accessible asset class. Their investment focus spans the entire lifecycle of the built environment, from supply chain optimization to cutting-edge building design, construction, operations, and energy transition. Previous successful investments by noa include companies like Satellite Vu (thermal data observation), Plentific (property management software), 011H (digitising design and construction processes), and Passive Logic (autonomous building management systems).

Grosvenor Property UK, known for its long-term vision and commitment to sustainability, has been deploying capital into early-stage companies since 2022. Their investments align with ambitious commercial, environmental, and social impact goals. By partnering with noa, Grosvenor aims to accelerate innovation and drive positive transformation across the built world ecosystem.

The built world currently accounts for a staggering 40% of global carbon emissions, yet it receives less than 5% of venture funding. Noa's mission is to change this narrative. Gregory Dewerpe, Founder and Managing Partner at noa, emphasises the urgency: "Despite the challenges, the last five years have seen built world tech investments outpace the wider market. Europe, in particular, is at the forefront of this industry's growth."

Grosvenor's alignment with noa's vision impressed both parties. The UK property business joins noa's invite-only group of strategic real estate limited partners (LPs). Together, they will foster innovation, accelerate transformation, and drive change across the industry. Andy Doyle, Director of Operations, Innovation & Strategy at Grosvenor, shares his excitement: "We're leveraging noa's experience to access relevant technologies that address our challenges and contribute to future growth."

As the real estate landscape evolves, Grosvenor's investment in noa's Fund II remains undisclosed. However, this strategic move signifies a commitment to sustainability, innovation, and a brighter future for the built environment.