Leaders from California Regional MLS have collaborated to launch Venture MLS, the first venture capital firm rolled out by a Multiple Listing Service, the organization has announced.
The firm’s first project, Venture MLS Fund I, will back seed and early-stage real estate technology companies. The fund is now inviting participation from groups and individual stakeholders within the real estate industry.
Beyond the individual guidance of the fund managers Art Carter (CRMLS CEO), Michael Scattaglia (CRMLS Controller), and Randy Rector (CEO of HomeSmart Evergreen Realty), Venture MLS will offer portfolio companies access to one of the largest pre-built audiences in residential real estate.
With over 110,000 real estate professional subscribers already using CRMLS, the organization says portfolio companies can avoid the trouble and expense of large-scale customer acquisition. They will also gain access to expert guidance from CRMLS staff, including legal, business development, and marketing services, a release stated.
Venture MLS’ goal is not only to revitalize investment in stagnated technology, particularly MLS software, but to give real estate professionals a voice in these developments through strategic investment.
The return on investment at Venture MLS is designed to be double-edged for agents, brokers and appraisers. They are not only expected to reap financial gains, but also improvements to the technology which they use to power their businesses.
For more information, visit www.crmls.org or venturemls.com.