Casey Berman, Jeffrey Berman and Jake Fingert
Founder and managing partner; general partner; and managing partner at Camber Creek
Who said proptech venture capital was tight in the last year?
Not VC firm Camber Creek, which brought in more than $100 million in new capital to the industry with the successful closing of its Opportunity Fund I in February 2023. The milestone brought its assets under management to $1 billion.
Under partners Casey Berman and Jeffrey Berman (the two are cousins) and Jake Fingert, the Rockville, Md.-based VC wasted little opportunity to deploy from its Opportunity Fund I, as they invested in several of the firm’s fastest- growing companies. These included Flex, Curbio and Placemakr.
“The current market environment is providing some exciting investment opportunities at attractive valuations,” said Fingert at the announcement of the Opportunity Fund I closing.
“Our exceptional brand with founders, strong track record in the proptech space, focus on adding value, and deep pipeline put us in a position to capitalize for our investors on today’s market.”
In addition, Camber Creek expanded its limited partnership (LP) network to more than 300 of the leading global real estate groups, building on the firm’sability to identify category-defining companies and drive investor returns.
The Opportunity Fund followed Camber Creek closing its fourth core venture fund in 2022, which was oversubscribed with $325 million in capital commitments. The Opportunity Fund, whose LPs include existing and new institutional investors, boosts the firm’s ability to retain its pro rata on earlier investments as well as invest in opportunities unique to the current market.
In 2023, Camber Creek Fund IV invested in and led rounds in new companies, including Bilt Rewards, a fast-growing payments and rewards company. The firm also saw a number of exits, including the successful sale of portfolio company TaskEasy to private-equity backed WorkWave.
Founded in 2011, Camber Creek has invested in other notable proptech startups such as Notarize, Flyhomes, Measurabl, HappyCo, Building Engines and Latch (now Door.com).
