THE FUTURE OF PROPTECH VENTURE · ZACH AARONS
The multi-trillion-dollar commercial real estate market is in the midst of exciting change. Innovation and technology have already given rise to a cohort of tech unicorns that sit amongst the world’s most influential real estate companies. If we follow the money, it’s clear that leading VCs are turning to real estate tech or proptech for new opportunities, returns, and disruption on a global scale.
In this Future of Proptech Venture series, we met with Zach Aarons, Co-Founder and Partner of Metaprop to discuss the future of proptech venture capital and emerging trends in the industry.
What trends excite you the most in real estate tech?
It's become truly global now. We are looking at investments in West Africa, South America, and South Asia simultaneously. It's finally time for crypto and real estate to collide in a meaningful way.
How has the entrepreneurial class in real estate tech changed in the past 5 years?
It has matured. There are now thousands of people who have worked for years at proptech companies and are ready to go out on their own and start businesses in the sector. That dynamic didn't exist when I started. A founder usually either came out of real estate or out of another part of the tech sector.
What areas of the real estate industry are not being addressed by tech?
For all the innovation on digital closings for residential real estate, the commercial closing statement remains primarily on paper.
What are some common characteristics you see in successful entrepreneurs?
The most successful entrepreneurs know when to dial up and dial down the reality distortion field.
What is your firm’s process when evaluating new investment opportunities?
Everyone on our core team wants to meet everyone on your core team. It's going to be a multi year commitment so that's important for us. We also would like to introduce you to many of the other founders in our network and our partner network of real estate practitioners who could become customers.
What are some of the common mistakes entrepreneurs should avoid when fundraising?
Deals aren't closed until full documents are signed and countersigned and money has been wired.
