Ludlow operates differently because we’re a different kind of VC. We believe in VC without ego. We wear our hearts on our sleeves, avoiding the puffery and posturing that has given venture capital a bad name. We fund the dreams of entrepreneurs and startups, becoming close friends with all of the teams we invest in.  Truly great companies are built on trust and friendship (and rainbows and luck). VC is a customer service business. Whether it’s testing product, leveraging our network, or forcing people to download your app, we’re here to help. You make our dream jobs possible and we’re forever thankful for that. Check out some of our other projects - www.carpool.vc and www.computer.show

Ludlow Ventures

Seed firm with ~$140m AUM across two funds. Leading pre-Seed & Seed rounds across the US. We invest U$500k-U$2.5m in companies raising U$500k-U$5m.

ANIMO Ventures

Pareto Holdings is an early-stage investment vehicle founded by Jon Oringer and Edward Lando. We execute on dozens of investments per month and are often the first to back exceptional entrepreneurs. We are industry and geography agnostic, and specialize in pre-seeding companies. We’ve made 500+ investments to date. Unlike others, we only invest our own money with a small and mighty team around the world.

Pareto Holdings

NFX operates as a pre-seed & seed stage investor that is transforming how true innovators are funded for entrepreneurs. They believe that creating something of true significance starts with seeing things others do not. As Founders, they reinvented industries with this mindset. As investors, their approach is no different. They do this by asking ourselves one question - ideally, how should the startup experience work for Founders, both NFX and the whole ecosystem. NFX lens is always through the eyes of the Founder. The firm approach is to first build an early-stage experience for all Founders that is powered by more software. Second, to bring the founders they back exponential yet little-known techniques for network effects and growth. Third, to make visible the typically seen methods of technology's most impactful companies. Having built 10 companies with more than $10 billion in exits across multiple industries and geographies, they're entrepreneurs first because they're entrepreneurs first. And they are determined to guard the backs of the next generation of fearless founders.

Canaan is an early stage venture capital firm that invests in entrepreneurs with visionary ideas. With $5B under management, a diversified fund and over 190 exits to date, Canaan has invested in some of the world's leading technology and healthcare companies over the past 30 years. Canaan’s focus areas include fintech, enterprise/cloud, marketplaces, frontier tech, biopharma, digital health, and medtech.

Canaan Partners

JLL Spark is dedicated to transforming the real estate industry through technology-based innovation. JLL Spark provides the nimbleness of a startup backed by JLL's expertise and resources. Led by experienced Silicon Valley entrepreneurs with successful track records building and investing in tech companies, the company's strategic proptech investments offer JLL the ability to provide innovative products to real estate owners and operators.  JLL Spark was founded in 2017 and is headquartered in San Francisco, California.

JLL Spark

Greenspring Associates is a global investment firm that provides commingled funds and customized partnership capabilities to a diverse group of institutions and individuals in North America, Europe, Asia, the Middle East, and Australia. Through a synergistic platform, the firm invests in established and emerging venture capital fund managers, in early and growth stage venture-backed companies and in secondary venture capital fund and secondary direct investments. Currently managing over $7.3 billion of committed capital, its dedicated investment team combines broad venture fund and direct investment expertise.

Greenspring Associates

Parker89 is a venture capital firm that invests and supports entrepreneurs reimagining residential and commercial real estate. From tech-enabled brokerages to mortgage software to fractional homeownership, we believe that the future of real estate will be built upon new technologies and business models that make the transfer of property simpler and more seamless.

Parker89

Cross River Bank combines innovative technologies with the expertise of a bank to create new services and solutions for fintech companies that are redefining global financial services. In addition to traditional banking, the company has developed partnerships with financial technology leaders to build compliant and integrated products for the marketplace lending and payment processing arenas.

Cross River Bank

StepStone provides investment services to institutional investors focused on achieving excess net (after fees) risk-adjusted private equity returns. StepStone builds private equity portfolios by accessing the market through a combination of fund investments, co-investments, and secondary purchases.

StepStone Group

Citi Ventures utilizes Citi's resources to support individuals, businesses, and communities amid technological changes. Based in San Francisco with offices in New York, London, Palo Alto, Tel Aviv, and Singapore, Citi Ventures focuses on discovering new value by exploring, developing, and investing in innovative ideas, and collaborating with Citi employees, clients, and the broader innovation community.

Citi Ventures

Blitzscaling Ventures invests in startups that can outgrow the competition and achieve enduring leadership in valuable markets.

Blitzscaling Ventures

Capital One Ventures is a strategic investor, funding startups that are driving the future of data, technology, and financial services. Founded in 2014, Capital One Ventures has invested in more than 70 companies that help deliver superior experiences to consumers and businesses. Capital One Ventures is based in San Francisco, New York and at Capital One's headquarters outside of Washington, DC.

Capital One Ventures

Citi SPRINT

Lev provides a technology platform for digitizing commercial real estate transactions. The company was founded in 2019 and is based in New York, New York, USA.

Lev is a commercial real estate financing platform that aims to transform the industry's complex lending process into a digitized experience. Its proprietary AI technology and deep industry expertise streamline the application process with automation and deal management tools for borrowers and brokers. Lev offers an end-to-end digital lending platform that specializes in permanent, non-recourse loans on single-tenant net lease (NNN) properties. As of February 2022, Lev had originated nearly USD 1 billion in loans via its marketplace in 2021 and reported a 10x year-over-year growth in its second year of operation.

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Fintech Startup Lev Raises $170M for Its Commercial Real Estate Platform

LevRose

Commercial Real Estate Investing Statistics 2024

Why NFX Invested in Lev: The Startup Rebuilding Commercial Real Estate Financing

Digitizing the commercial real estate value chain

Commercial PropTech

LEV Foundation launches €200k longevity research drive

Lev is a commercial real estate financing platform that aims to transform the industry's complex lending process into a digitized experience. Its proprietary AI technology and deep industry expertise streamline the application process with automation and deal management tools for borrowers and brokers. Lev offers an end-to-end digital lending platform that specializes in permanent, non-recourse loans on single-tenant net lease (NNN) properties. As of February 2022, Lev had originated nearly USD 1 billion in loans via its marketplace in 2021 and reported a 10x year-over-year growth in its second year of operation.
In June 2024, Lev launched Lev Pipeline Management, an AI-powered tool allowing sponsors to track potential acquisition targets, share details across teams, convert pipeline properties into financing transactions, and access interactive loan sizing, lender matching, and automated material creation features. Through this expansion into additional parts of the CRE workflow, Lev aims to become the nexus of all CRE transactions.

Valcre is a comprehensive appraisal software platform designed for the commercial real estate industry. It streamlines the entire appraisal process, from job and client management to property research, inspections, analysis, and report writing. Valcre's cloud-based platform enables seamless collaboration and data synchronization, ensuring efficient workflow and accurate reporting.
The software integrates with various industry-leading data providers, offering access to over 150 million public property records. This allows appraisers to effortlessly capture and verify accurate comparables, enhancing their decision-making process. Valcre's customizable report templates, tailored to industry standards, cover a wide range of property types, including office, industrial, retail, multi-family, and specialty properties.
Through automation and intuitive tools, Valcre enables appraisers to generate professional reports with minimal effort. Its user-friendly interface and robust data management capabilities streamline the entire appraisal process, leading to increased productivity and time savings. As of November 2022, Valcre had facilitated over 300,000 property appraisals and collected 2.5 million comparables, saving appraisers over two hours per day on average.
In November 2022, Valcre secured USD 12.7 million in Series A funding led by Avenue Growth Partners and Second Century Ventures. This investment will support rapid team growth, product innovation, and further solidify Valcre's position as a market leader in appraisal software solutions.

Valcre

Otso is a financial technology company that specializes in automated financial due diligence for commercial real estate leasing. The company's AI-powered Underwriting as a Service (UaaS) platform combines artificial intelligence with human expertise to deliver comprehensive financial reports for tenant screening within 24 hours. Otso's technology aims to streamline the tenant evaluation process, enabling landlords to close leases an average of 21 days faster than traditional methods. The platform supports various property types, including office, retail, and industrial spaces.
Otso's solution offers an alternative to traditional security deposits and letters of credit in commercial leases. The company provides landlords with AA-rated coverage and up to USD 50,000 in lease performance guarantees for a monthly fee starting at USD 250. This approach allows tenants to retain their working capital typically locked in deposits or letters of credit while providing landlords with enhanced protection against tenant defaults. Otso's platform utilizes a business's complete credit and cash history for underwriting decisions, and every policy is backed by A-rated insurance through Accelerant specialty insurance company and administered by Assurely.
The company has completed its SOC2 Compliance Audit, demonstrating its commitment to high-level security for clients and prospects. Otso partners with industry leaders such as AWS, Plaid, and Experian to ensure data security, employing 256-bit encryption and complying with global data protection regulations. The platform is designed as a bolt-on solution that integrates seamlessly with existing systems, requiring minimal training for implementation.

Otso Corp

REScan is a spatial data company that specializes in rapidly digitizing and efficiently annotating large indoor spaces from a human perspective. Their technology involves an end-to-end solution comprising a scanner helmet, a 3D reconstruction and streaming pipeline, and a mobile viewer application. The company has developed a proprietary system, protected by 18 issued and one pending patent, that enables remote viewing, analysis, editing, and spatial computing applications for scanned spaces.
REScan's solution allows for the creation of 3D digital copies or "Digital Twins" of indoor and outdoor areas. These digital replicas provide remote access to distant locations and enhance professional workflows by facilitating machine understanding of the physical world. The company's technology enables the rapid onboarding of these Digital Twins, streamlining the process of digitizing large spaces.
One notable demonstration of REScan's capabilities is their ability to capture a 350,000 square foot 3D scan of indoor and outdoor areas in Redwood City within a span of under two hours. This scanned data can be viewed on both Android and iPhone devices through their mobile viewer application, showcasing the efficiency and accessibility of their solution.

REScan

<div>
 
 Matterport, founded in 2011, is a spatial data company that specializes in creating 3D digital twins of physical spaces. The company's proprietary technology enables the capture of dimensionally accurate, photorealistic virtual tours of properties using various camera technologies, including smartphones and its flagship LiDAR-based Pro3 camera. At the core of Matterport's offering is Cortex, an AI-powered software engine that automatically generates 3D digital twins and virtual tours while providing detailed property insights.
 
 
 
 
 As of 2024, Matterport has digitized over 12 million spaces across 177 countries, representing more than 38 billion square feet of digital property. The company's technology finds applications in multiple sectors, including residential and commercial real estate, hospitality, retail, and industrial spaces. Matterport's product lineup includes 3D cameras, the Matterport Capture mobile app, and a web-based platform for managing and sharing 3D models. In 2023, Matterport reported revenue of USD 158 million, representing a 16% year-over-year growth.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 
 Matterport's technology has been adopted by various industries, with real estate being a primary focus. CoStar Group, a major player in online real estate marketplaces, features nearly 300,000 Matterport digital twins across its platforms, including Apartments.com, LoopNet, and Homes.com. In March 2024, Apartments.com recorded over 7.4 million views of Matterport 3D Tours, with users spending 20% more time on listings featuring these tours.
 
 
 
 
 Matterport has also established partnerships with companies in other sectors. In June 2024, the company announced a collaboration with FBS, a provider of Multiple Listing Service (MLS) technology, to integrate Matterport's 3D tours and property data into the Flexmls platform. This partnership aims to streamline the listing process for real estate professionals and enhance the home search experience for buyers.
 
</div>

Matterport

Fundrise is a real estate investment platform that allows individuals to invest in a diversified portfolio of private real estate assets, including residential and commercial properties, with a low minimum investment. Fundrise uses technology to streamline the investment process, offering investors access to institutional-quality real estate opportunities that were previously only available to wealthy individuals and institutions.
The company was founded in 2012 with the mission of democratizing real estate investing. Fundrise offers a variety of investment plans tailored to different investment goals, such as supplemental income, long-term growth, or a balanced approach. The platform leverages advanced data analytics and proprietary algorithms to identify and acquire properties with strong potential for appreciation and rental income growth, with a focus on the Sunbelt region of the US.
Fundrise's primary product offerings are its private real estate investment trusts (eREITs), which invest in a diversified portfolio of properties across different markets and property types. As of 2024, Fundrise manages over USD 3.3 billion in assets under management and has over 500,000 active investors on its platform.

Fundrise

Companies that use technology and software to automate and digitize workflows and repetitive tasks during a rental/lease cycle of a commercial property

Platforms that provide online marketplaces that connect buyers and sellers as well as real estate brokers

Companies that offer tools that allow renters or buyers to view homes without visiting the sites

Platforms that provide performance data and analytics relating to commercial real estate to facilitate activities such as property valuations, financing deals, and marketing initiatives

Platforms that connect commercial real estate owners with real estate lenders to raise funds

Companies that offer platforms to allow retail investors access to commercial real estate investments

Allows commercial real estate agents to create 3D virtual tours for properties

Uses AI/ML to support various property-related tasks such as rental payments and spatial data capturing

Lev

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