Aaron Block, Clelia Peters and Zach Aarons

Aaron Block, Clelia Peters and Zach Aarons

New York-based real estate venture capital firm MetaProp has launched a $40 million fund that has attracted CBRE Group Inc., RXR Realty and Cushman & Wakefield.

MetaProp II is a venture capital fund that invests in early-stage real estate and real estate technology-related firms. The fund closed on June 13.

The new fund reportedly is expected to invest in real estate technology such as 3-D printing, augmented reality, co-working, blockchain among others.

“We are seeing increasing momentum among property tech start-ups in our industry and our investment in MetaProp will expand our insight into this important ecosystem,” said Chandra Dhandapani, CBRE’s chief digital & technology officer.

Real estate reporter Ciaran McEvoy can be reached at cmcevoy@labusinessjournal.com or (323) 556-8337.