US-based online real estate investing platform CrowdStreet has secured an investment of $43m to fund its growth and create market opportunities for its solutions.
The investment includes a mix of equity and debt capital.
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The equity investment was provided by TIAA Ventures along with several commercial real estate industry players, including Cypress Equity Investments, The Dinerstein Companies and Foulger-Pratt.
The fundraise also saw the participation of CrowdStreet’s existing venture capital partners, Grotech Ventures, Rally Ventures, Seven Peaks Ventures and Green Visor Capital.
CrowdStreet CEO Tore Steen said: “We are pleased to count so many of these leaders from across the industry as customers, partners, and now, with their participation in this fundraising round, strategic investors.
“They know us better than anyone and share our vision for the future of commercial real estate investing.
“With their support, we can accelerate our efforts to provide even more investing products, helping investors build their financial freedom through direct real estate investing.”
CrowdStreet plans to use the fresh infusion to upgrade the technology that drives its platform.
The company will also improve its investment management tools that are used by investors, using the new capital.
In addition, CrowdStreet will strengthen its wealth management network. It will enable financial advisors to help their clients add alternative assets such as commercial real estate into their portfolios.
Currently, CrowdStreet Advisors handles more than $400m in client assets in various private real estate funds and separately managed accounts.
Since its formation, the company has secured more than $3.6bn for over 670 commercial real estate projects across the US.
