Agya Ventures Closes $32 Million Fund to Back Early-Stage Startups Shaping the Future of the Built World and Metaverse
Entrepreneurs / 16th August 2022
Agya Ventures, a venture capital firm focused on early-stage real estate and construction technology, has announced the close of its $32 million fund (‘Fund I’). The close of Fund I rounds out an impressive phase of initial investing for the firm, backing 19 early-stage real estate tech and construction tech companies in the U.S. in just a year and a half. Now, the fund will continue to make new investments in startups shaping the future of the built world as well as the metaverse while also pushing for partnerships on a global scale.
“The last two years have brought about massive changes in how we work, travel, and live,” said Agya Ventures General Partner Nobu Iguchi. “Practically every stakeholder in these areas – real estate developers, general contractors, home builders, financial institutions, local governments – is looking at technology solutions to fundamentally improve the quality of our lives.”
As real estate continues to witness material shifts across asset classes, Fund I will double down on its existing portfolio with new investments in the future of office, housing, hospitality, retail, and construction. In parallel, the fund will also invest in companies building for the metaverse to make the internet more immersive and experiential. As the metaverse matures, Agya sees its potential to bridge the divide between virtual and built worlds, and predicts that it will fundamentally impact real estate and its adjacent industries.
The fund’s Limited Partners include leading real estate firms, construction companies, and smart city developers from Japan, with significant asset holdings and businesses in the Indo-Pacific region. Among them are Mitsubishi Estate, Tokyu Fudosan, Obayashi Corporation, Mori Trust, and Hitachi Solutions. Over the next year, Agya will continue to build critical business relationships in the MENA and APAC regions to introduce opportunities for its portfolio companies’ expansion beyond the United States.
Founded in 2019 by Iguchi and his former Yale College and Harvard Business School classmate Kunal Lunawat, Agya Ventures has since built an illustrious portfolio including Wildr, Culdesac, and Obsess. Importantly, 50% of those investments have had at least one female co-founder, far exceeding the current venture capital average of 18%.
One of the leading advantages to Agya’s model is that it connects its founders with ready customers in its ecosystem.
“Through our investments in real estate technology and the metaverse, we’re giving shape to one of the most powerful founder communities in the space,” said Iguchi. “As we invest in new companies, we are subsequently giving those founders access to our L.P.s and partners, who are eager to adopt their new-age solutions – creating a powerful flywheel for growth.”
Agya will carry this momentum forward as it continues to nurture its existing portfolio and invest in new cutting-edge technologies for Fund I.
