GreenSoil Building Innovation Fund raises $26 million from US-based Grosvenor Group

The GreenSoil Building Innovation Fund (GBIF) announced that it has received a $26 million CAD ($20 million USD) investment from US-based Grosvenor Group, a privately-owned international property group.

Toronto-based GBIF is a growth equity fund that invests in companies that can generate returns for real estate owners, developers, and operators through innovative products, services, and technologies. GBIF has made its first two investments in companies that let property owners manage their assets more sustainably and has raised $55 million (USD) to date.

“This is a great opportunity to back a highly skilled team in a fast changing property technology environment,” said Andy Yates, the investment director at Grosvenor. “GBIF has exactly the skills and business plan that we’ve been seeking in order to access the broader market opportunity that is being driven by the need to push for greater efficiency in both existing and new building stock.”

Grosvenor says the investment will allow the fund to diversify its investment portfolio and access technology innovators that will help them achieve their goal of establishing long-term sustainability of the real estate sector. GBIF will work closely with Grosvenor by sharing its expertise in real estate innovation.

Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.