Second Century Ventures, the strategic investment arm of NAR, has announced the expansion of their REACH technology growth program to Latin America.
After successfully accelerating more than 100 companies through its U.S.-based programs, REACH began global expansion in 2019; it has since opened programs in Australia, Canada and the United Kingdom.
As the next region targeted for expansion, the Latin American real estate industry represents nearly $1 trillion USD in opportunity, and proptech has rapidly become one of the most attractive sectors for venture capital investment.
“REACH Latin America is a new chapter in our program’s history, furthering our dedication to supporting entrepreneurs and innovators throughout global real estate,” said NAR CEO and SCV President Bob Goldberg. “We welcome all standout startups to apply to join us as we partner to propel our profession into the future.”
REACH Latin America (REACH LATAM) will be led by Carlos Rousseau, the president of the Mexico Proptech Association. Rousseau is also the founder and former president of Orange Investments, a multinational real estate developer and investment company with a proven track record of more than 300 projects and over $1 billion USD in assets under management.
“I am very excited to lead such a forward-thinking program across Latin America’s proptech ecosystem. This program will change how things are done in the region and open a world of opportunities for Latin America’s real estate tech startups,” Rousseau said. “We are thrilled to start recruiting our first REACH LATAM cohort. The 2023 class will bring firms from across the continent and the entire real estate ecosystem, with each member carefully selected to deliver improved real estate customer experiences.”
Based in Mexico City and Monterrey, the REACH LATAM team will work closely with top real estate organizations, corporations and technology partners to help accelerate the adoption and engagement of new innovations. The program is focused on early to mid-stage technology companies innovating in and around the real estate sector. To fulfill its goals, REACH offers an annual curriculum including mentorship, exclusive events, network exposure, strategic planning and access to a portfolio of more than 200 like-minded, high-growth tech companies, a release noted.
“The opportunities provided to REACH companies are unparalleled,” said Dave Garland, managing partner of Second Century Ventures. “Our program is uniquely positioned to support and grow aspiring tech companies, helping them build agility and resiliency as they power innovation across real estate. The burgeoning property technology market in Latin America is the ideal next chapter for REACH and is a vital component of our continued global expansion.”
Applications for REACH Latin America will be open through February 28, 2023. For more information and to apply, visit https://www.nar-reach.com/latam.