Constance Freedman and Liza Benson

Despite the tumult in recent months in the commercial real estate and venture capital worlds, Moderne Ventures managed to have a successful exit in January when TaskEasy, a company in its stable that provides lawn care and yard maintenance services, sold to WorkWave. While the details of the deal remain under wraps, it represented one of the biggest accomplishments this year for the early-stage venture capital firm.

Since its founding in 2015, Moderne Ventures has maintained a less than 1 percent loss ratio. Its assets under management have grown to $400 million, up from just $40 million five years ago. The firm’s backers are some of the biggest names in real estate, such as Greystar and Oaktree Capital Management. 

“It’s been a very rough year for real estate tech and proptech. We’re very proud to say that all of our companies are on very solid footing — none of our companies ever sort of have failed,” said Liza Benson, who leads the venture capital firm alongside founder Constance Freedman.

The partners are now in the process of raising a new fund, which Benson expects to close next year. 

Moderne Ventures’ impact on the proptech industry reverberates beyond just its funds. 

The firm runs what it calls a “passport program,” which connects early-stage startups with real estate companies that could become investors or customers. Over 700 real estate executives and 140 companies have participated in the program. 

Making Benson and Freedman’s achievements all the more impressive is the fact that they remain rarities: women working in the upper echelons of proptech. 

“Constance and I have been working in this industry for a very long time,” Benson said. “And we’re quite used to being the only female voices in the room. And, in my mind, I always take it as an advantage because no one ever forgets you!”