Camber Creek closes $30 million fund to invest in more real estate startups - Technical.ly DC

Growth

Jun. 11, 2018 11:42 am

Camber Creek closes $30 million fund to invest in more real estate startups

The Rockville venture firm also led a seed round for a pop-up hotel startup with D.C. roots.
D.C. real estate.

D.C. real estate.

(Photo by Flickr user Sonara Arnav, used under a Creative Commons license)

Camber Creek, a venture capital firm focusing on real estate tech, announced the closing of a $30 million fund last week.

It’s the second fund for the firm, which has a D.C.–area presence through an office in Rockville, Md.

Camber Creek looks to back startups bringing new solutions to the real estate industry. Many of the investors in the fund are real estate companies themselves. As a result, the investing companies often use technology being developed by the companies the firm supports, according to Camber Creek. The VC firm also draws on their expertise during due diligence.

“We’ve created an unprecedented investor network,” Camber Creek Managing Partner Casey Berman said in a statement. “We are able to cut through the red tape to make technology accessible quickly and help investors maximize their real estate businesses.”

The firm has backed local startups including Reston, Va.–based GoCanvas and D.C.–based Fundrise.

On the same day (June 7) as it announced the close of the new fund, Camber Creek also made news by leading a $3.9 million seed round for pop-up hotel startup WhyHotel. The startup operates temporary hotels within new apartment complexes as the buildings move through the initial lease-up phase. The company’s first run came at The Bartlett in Arlington, Va., and it’s now expanding to a building in downtown Baltimore.

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