Real estate tech investor Agya Ventures raises $32m for inaugural fund

LPs include Mitsubishi Estate, Tokyu Fudosan, Obayashi Corporation, Mori Trust and Hitachi Solutions.

Agya Ventures, a venture capital firm focused on early-stage real estate and construction technology, has closed its inaugural fund at $32 million. Fund I will invest in the future of real estate and the metaverse.

“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,” the firm said in a statement. “Among them are Mitsubishi Estate, Tokyu Fudosan, Obayashi Corporation, Mori Trust and Hitachi Solutions.”

Agya Ventures general partner Nobu Iguchi said in the statement: “The last two years have brought about massive changes in how we work, travel and live. 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.”

Agya Ventures was founded in 2019 by Iguchi and his former Yale College and Harvard Business School classmate Kunal Lunawat. The firm is co-located in San Francisco and New York.

Agya already has 18 companies in its portfolio, according to its website. Those companies include Sustain.Life, which makes sustainability software to help businesses achieve net zero; Doorsey, a bidding platform for single-family buyers; and Hammr, which has been described as “LinkedIn for new construction hires.”