# PE firms backing Proptech (2026 list)

> 22 PE firms backing Proptech, 95% active in the last 12 months. Led by Invus, Practical Venture Capital, Gresham House Ventures. Ranked by what they funded.

Source: https://millionrounds.com/lists/pe-firms-proptech (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# PE firms backing Proptech

Updated 7 November 2026

PE firms we have observed in a proptech round in the last two years.

[See all 22 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-proptech)The top 22

**22** investors on the list No change this week

**70** cheques in 12 months *+56%* against the market

**$62M** median round they joined *+677%* against the market median

**95%** wrote a cheque in 12 months

**50%** have led a round

## The Top 22

Ordered by cheques observed, never by anything anyone paid for

Deploying now (21)

- 1 [Invus](https://millionrounds.com/fund/invus) *Deploying now* Private equity · United States **148** **$81M** median round **Oct 2026** last seen
- 2 [Practical Venture Capital](https://millionrounds.com/fund/practical-venture-capital) *Deploying now* Private equity · United States **94** **$21M** median round **Jun 2026** last seen
- 3 [Gresham House Ventures](https://millionrounds.com/fund/gresham-house-ventures) *Deploying now* Growth equity · United Kingdom **40** **$6.6M** median round **Sept 2026** last seen
- 4 [EQT](https://millionrounds.com/fund/eqt) *Deploying now* Private equity · Sweden **35** **$62M** median round **Sept 2026** last seen
- 5 [Five V Capital](https://millionrounds.com/fund/five-v-capital) *Deploying now* Private equity · Australia **32** **$13M** median round **Jun 2026** last seen
- 6 [Zigg Capital](https://millionrounds.com/fund/zigg-capital) *Deploying now* Private equity · United States **7** **$14M** median round **Oct 2026** last seen
- 7 [GSBackers](https://millionrounds.com/fund/gsbackers) *Deploying now* Growth equity **3** **$100M** median round **Apr 2026** last seen
- 8 [Dual Bridge Capital](https://millionrounds.com/fund/dual-bridge-capital) *Deploying now* Growth equity · Japan **2** **$114M** median round **Oct 2026** last seen
- 9 [Explorer Investments](https://millionrounds.com/fund/explorer) *Deploying now* Private equity · Portugal **2** **$4.8M** median round **Jan 2026** last seen
- 10 [Grupo Pegasus](https://millionrounds.com/fund/grupo-pegasus) *Deploying now* Private equity · Colombia **2** **$36M** median round **Jul 2026** last seen
- 11 [Saluda Grade](https://millionrounds.com/fund/saluda-grade) *Deploying now* Growth equity · United States **2** **$70M** median round **Oct 2026** last seen
- 12 [Vital Capital](https://millionrounds.com/fund/vital-capital) quiet Private equity · Cyprus **2** **-** median round **Jun 2025** last seen
- 13 [Adam Mills](https://millionrounds.com/fund/adam-mills) *Deploying now* Growth equity **1** **$22M** median round **Jan 2026** last seen
- 14 [Greensoil PropTech Ventures](https://millionrounds.com/fund/greensoil-proptech-ventures) *Deploying now* Private equity · Canada **1** **$17M** median round **Nov 2025** last seen
- 15 [Jade Mills](https://millionrounds.com/fund/jade-mills) *Deploying now* Growth equity **1** **$22M** median round **Jan 2026** last seen
- 16 [Minerva Growth Partners](https://millionrounds.com/fund/minerva-growth-partners) *Deploying now* Growth equity · Japan **1** **$225M** median round **Oct 2026** last seen
- 17 [Mitsubishi Estate](https://millionrounds.com/fund/mitsubishi-estate) *Deploying now* Private equity · Japan **1** **$225M** median round **Oct 2026** last seen
- 18 [Aichi Capital (Aigin Venture Fund No. 2 Investment Limited Partnership)](https://millionrounds.com/fund/aichi-capital-aigin-venture-fund-no-2-investment-limited-par) *Deploying now* Growth equity **1** **$225M** median round **Oct 2026** last seen
- 19 [Continental General Insurance Co](https://millionrounds.com/fund/continental-general-insurance-co) *Deploying now* Growth equity **1** **$120M** median round **Oct 2026** last seen
- 20 [Gougin Capital (Gougin Goen Musubi No. 1 Investment Limited Partnership)](https://millionrounds.com/fund/gougin-capital-gougin-goen-musubi-no-1-investment-limited-pa) *Deploying now* Growth equity **1** **$225M** median round **Oct 2026** last seen
- 21 [Peakline](https://millionrounds.com/fund/peakline) *Deploying now* Private equity · United States **1** **$40M** median round **Jun 2026** last seen
- 22 [SOMPO Growth Partners (SGP No. 1 Investment Limited Partnership)](https://millionrounds.com/fund/sompo-growth-partners-sgp-no-1-investment-limited-partnershi) *Deploying now* Growth equity **1** **$225M** median round **Oct 2026** last seen

## The Newest Cheques

Rounds this list's investors joined most recently

- **29** Oct **[Dream Technologies Inc.](https://millionrounds.com/company/dream-technologies-inc)** Seed · $17M *With* [Zigg Capital](https://millionrounds.com/fund/zigg-capital)
- **14** Oct **[Zippy](https://millionrounds.com/company/zippy)** Series C · $20M *Led by* [Saluda Grade](https://millionrounds.com/fund/saluda-grade)
- **9** Oct **Ocean** Series A · $3.2M *With* [Dual Bridge Capital](https://millionrounds.com/fund/dual-bridge-capital)
- **7** Oct **[Matchpoint Therapeutics](https://millionrounds.com/company/matchpoint-therapeutics)** Series B · $150M *With* [Invus](https://millionrounds.com/fund/invus)
- **6** Oct **[Global Trust Networks (GTN)](https://millionrounds.com/company/global-trust-networks-gtn)** Growth · $225M *Led by* [Minerva Growth Partners](https://millionrounds.com/fund/minerva-growth-partners)
- **1** Oct **[Homeward](https://millionrounds.com/company/homeward)** Series D+ · $120M *Led by* [Saluda Grade](https://millionrounds.com/fund/saluda-grade)

## Stages This Year

61 rounds

- Series B **20%**
- Other **20%**
- Series A **16%**
- Growth **15%**
- Venture **11%**
- Other **18%**

## What They Backed

Sectors, last 12 months

- AI **21**
- Biotech **13**
- Proptech **10**
- Healthcare **9**
- Fintech **9**
- Construction **5**

## Cheques by Quarter

Led Joined

14 Q1 25

13 Q2 25

4 Q3 25

20 Q4 25

17 Q1 26

14 Q2 26

20 Q3 26

12 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai)
- [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech)
- [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data)
- [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech)
- [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics)
- [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction)
- [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy)
- [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai)
- [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders in real estate and construction

- The Book of YES: The Ultimate Real Estate Agent Conversation Guide Kevin Ward · 2016 4.10 from 253 ratings on Goodreads Real estate and construction Company building About the book The Book of YES In Kevin Ward's book, you will find the most powerful scripts in the real estate industry today. If you’re tired of the same old sales scripts or if you’ve done away with them all together, I know how you feel because I’ve been there. I was tired of seeing the… On AmazonListen on Audible
- The Book on Investing In Real Estate with No (and Low) Money Down: Creative Strategies for Investing in Real Estate Using Other People's Money Brandon Turner · 2014 4.18 from 2,560 ratings on Goodreads Real estate and construction Innovation Company building About the book COMPLETELY REVISED AND UPDATED Is your lack of cash holding you back from your real estate dreams? Discover the creative real estate financing techniques that savvy investors are using to do more deals, more often. No matter how much money you have in your checking… On AmazonListen on Audible
- Confessions of a Real Estate Entrepreneur: What It Takes to Win in High-Stakes Commercial Real Estate: What it Takes to Win in High-Stakes Commercial Real Estate James A. Randel · 2005 4.13 from 277 ratings on Goodreads Real estate and construction Company building About the book A front row seat into the world of high-stakes commercial real estate investing “A must-read book … one of the best real estate investment books I have ever read. On my scale of 1 to 10, this unique book rates an off-the-charts 12.” ---Robert Bruss Confessions of a Real Estate… On AmazonListen on Audible
- The Public Domain: Enclosing the Commons of the Mind James Boyle · 2008 4.12 from 349 ratings on Goodreads Real estate and construction Innovation About the book In this enlightening book James Boyle describes what he calls the range wars of the information age, today’s heated battles over intellectual property. Boyle argues that just as every informed citizen needs to know at least something about the environment or civil rights, every… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&industry=real_estate).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about PE firms backing Proptech

### Who are the most active PE firms backing Proptech?

By cheques observed, the most active are Invus, Practical Venture Capital, Gresham House Ventures, EQT and Five V Capital.

### How many PE firms backing Proptech are there?

22 are on record. 95% made an investment in the last 12 months and 50% have led a round.

### Which stages do PE firms backing Proptech back?

Of the rounds with a named stage in the last 12 months, mostly Series B (30%) and Series A (25%).

### How big are the rounds PE firms backing Proptech join?

The typical (median) round among the leading investors here is $62M.

### Which sectors do PE firms backing Proptech back most?

In the last 12 months, mostly AI, Biotech and Proptech.

### Which PE firms backing Proptech lead the most rounds?

Gresham House Ventures (7 led), EQT (7 led) and Invus (4 led).

### Where are PE firms backing Proptech based?

Among the most active, most are based in the United States (5), Japan (3) and the United Kingdom (1).

### What have PE firms backing Proptech invested in recently?

Recent rounds include Dream Technologies Inc. (Seed, Oct 2026, with Zigg Capital), Zippy (Series C, Oct 2026, with Saluda Grade) and Ocean (Series A, Oct 2026, with Dual Bridge Capital).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)