We invest in technology companies leading the global transformation of the real estate sector.
The real estate sector is one of the last great frontiers for disruption by technology.
The $280 trillion real estate industry is the largest sector in the global economy and is undergoing a seismic, transformational shift as it makes up for 20 years of underinvestment.
As digitally native consumers, agents and executives become key decision-makers in the space, technology adoption in the real estate sector can no longer be Plan B – the market demands for it to be Plan A.
Early generations of proptech companies began the process of digitizing legacy solutions. But advances in fintech, technology infrastructure, machine learning and artificial intelligence in the last 5-10 years are enabling the formation of companies that could not have been built a decade ago.
Proptech 2.0 companies are now able to create entirely new business models and products that previously could not exist. With algorithmic and machine-based capabilities, companies can now ingest gigantic volumes of data and payment flows, resulting in superior consumer products and end-to-end solutions that are transforming the real estate industry by an order of magnitude.
We are in the early innings of the Proptech 2.0 revolution and Prudence is committed to finding the next generation of iconic companies at their moment of breakout growth.
“As I prepared to launch Compass, I worked out of Prudence’s office – Gavin was involved with many formative discussions, from capital raising and strategy to even our name. From the seed round investment to today, they have always been thinking of ways to help Compass. Prudence is more than an investor; I consider them as partners and friends in our mission to transform the real estate industry.”
Robert Reffkin // CEO and Co-Founder of Compass
SEED, SERIES A & C
“Morty’s mission to transform the mortgage industry is lofty, and we saw Prudence’s reputation and expertise in the proptech industry as a crucial piece to help us scale in our Series A. Prudence has been both an investor and strategic partner for us. Their ability to think holistically about Morty’s mission and bring strategic investors into the mix has helped us hit critical milestones and fuel our growth.”
Nora Apsel // CEO and Co-Founder of Morty
“Gavin and the team at Prudence are enormously knowledgeable about the U.S. Proptech market and how to globalize the themes that developed there. They have helped us ingest those learnings quickly so we can move fast and build efficiently. As a long-time Proptech investor, Prudence is critical to enabling the growth in the European Proptech sector.”
Nils Henning // CEO and Co-Founder of CASAFARI
“Prudence is a team of exceptional business builders — Prudence’s expertise and focus makes them a critical advisor to our management team as we continue to scale. They sweat the details and are a diligent investor and thought partner, while still moving quickly and efficiently on making important decisions.”
Mike DeGiorgio // Founder and CEO of CREXi
“While we have always valued Prudence as a trusted advisor, we were blown away with how many growth equity investors also looked to them for their thoughts and opinions. Having Prudence as an investor brings the credibility of a highly sophisticated, global proptech investor – but more than that, they are truly great partners. The amount of interest they were able to help generate in our latest investing round made a big impact, and I’m grateful for the partnerships that have resulted from our relationship with Prudence.”
Anshul Ruparell // CEO and Co-Founder of Properly
Hemlane has redesigned property management using a combination of software and local brokerages.
“Prudence is much more thoughtful and empathetic than the typical investor. They have a remarkable ability to put themselves in my shoes as a CEO and assist me in solving problems that are seemingly intractable. My Co-Founder and I consider them a genuine partner in building Hemlane, and they are a firm to whom we attribute a large amount of our success.”
Dana Dunford // CEO and Co-Founder of Hemlane
Co-Founder & Managing Partner
Thriving candy business shutdown by school principal
Graduates from Yale with a BA in Political Science
Leaves Goldman Sachs after 9 months to move to San Francisco to work with tech companies at Credit Suisse
Graduates from Columbia Business School
2005 – 2009
Works in middle market private equity but spends free time meeting with early-stage founders of tech companies
Joins David to build Prudence
Board of Directors at Properly, Casafari, Morty, Hemlane, Salus and CREXi (observer)
Coaching soccer, cutting back on podcasts and spending time with his wife Janie and their boys, Brooks and Kemp
Co-Founder & Partner
Apple II computer leads to
lifelong passion for tech
Studies economics before switching to law, graduating with an LLB from Manchester University in the UK and passing the bar
2001 – 2007
Foregoes law, creates a family office focusing on alternative investments; immerses himself in the world of hedge funds and forms a nuanced view of finance industry
Due to his analysis on the finance sector, liquidates 2/3 of portfolio pre-financial crisis
Post-crisis, senses a larger opportunity in direct, private investments and circles back to his tech passion
Joins Gavin to build Prudence
Reading, surfing around the world and spending time with his family
Makes first investment in one share of TCBY stock
Graduates from Brown University with an AB in Economics
Leaves Goldman Sachs for the 1st time after 2 years in Investment Banking
2013 – 2015
Works at hedge fund Partner Fund Management in San Francisco
2015 – 2017
Moves into the tech world with Shift Technologies, building a consumer auto lending business
2017 – 2020
Shifts to tech investing at Goldman Sachs Investment Partners; investments include Zola and Built Technologies
Joins Gavin and David to continue developing the growth of Prudence
Promoted to Partner in Prudence
Playing basketball, cooking and traveling with his wife Gloria and their son Leo
Head of Investor Relations & Operations
Earns first paycheck after doing a radio commercial for Home Improvement
Graduates from Louisiana State University summa cum laude with a BA in Finance
2011 – 2017
Spends 6 years at Goldman Sachs in Investment Banking and the Executive Office
Graduates from Harvard Business School and goes on a 6-month, round-the world adventure
2020 – 2021
Advises financial institutions on executing their talent and recruiting strategies at executive search firm Russell Reynolds
Joins Prudence to lead the firm’s investor relations and operations efforts
Exploring new places on all seven continents, scuba diving, snowboarding and painting