Camber Creek Taps Mitchell Schear as New Executive Partner
Former President of Vornado/Charles E. Smith joins the VC firm with a laser focus on PropTech
WASHINGTON, July 25, 2019 /PRNewswire/ -- Camber Creek, the most experienced 'PropTech' venture capital firm in the U.S., today announced a key expansion of its leadership team: Mitchell Schear will join General Partners Casey Berman, Jake Fingert and Jeffrey Berman as an Executive Partner effective immediately.
"We're thrilled to have seasoned executive Mitchell Schear join our partner team. This addition showcases the growing significance of PropTech. As technology transforms the real estate industry, Mitchell's experience will strengthen our reputation as a firm that deeply understands real estate and adds meaningful value to our portfolio companies," said Casey Berman, Founder and Managing Partner at Camber Creek.
As the former President of Vornado/Charles E. Smith, the D.C. division of Vornado Realty Trust, a $20 billion real estate investment trust, Schear spent 15 years directing the strategy, performance and growth of Vornado's extensive 20+ million square foot portfolio. In Arlington, VA, his focus on technology and placemaking transformed Crystal City and paved the way for leading technology companies – including Amazon – to locate offices there. Schear joins Camber Creek with over 35 years of leadership experience in commercial real estate as he ran two of Washington's most influential real estate companies, owning and developing some of the most iconic office and residential projects in D.C. Schear's experience adds to Camber Creek's deep bench of expertise; collectively, the team has investing, operating, and technology experience across construction, property management, development, leasing and other segments of the real estate industry.
"I have advised and consulted with many dynamic and talented teams in this space, and Camber Creek's intense focus on contributing in a direct and significant way to the success of its portfolio companies captured my attention," said Mitchell Schear, Executive Partner at Camber Creek. "They are serious investors who are doggedly dedicated to the companies they select to cultivate, invest in, and grow. I am excited to bring my own PropTech passion, expertise and experience to Camber Creek's extraordinary team and their industry-leading portfolio companies."
Schear is also involved in a variety of organizations and charities, including Higher Achievement where he has rallied the real estate and business community to raise more than $1 million annually for this organization dedicated to helping at-risk middle-school communities excel and succeed.
Camber Creek is the longest standing real estate technology-focused VC firm. The team has a proven and successful track record of investing in emerging real estate technology market leaders, catalyzing growth for those companies, and achieving outsized returns for Limited Partners. Camber Creek's investors own, operate and manage nearly a billion square feet of commercial real estate and hundreds of thousands of residential units across the United States, giving them a unique competitive advantage as an investor and value-added partner in the real estate technology space. Camber Creek is an early investor in many industry-leading proptech companies such as VTS, Latch, Latista (acquired by Oracle), and WhyHotel.
For more information, please visit www.cambercreek.com.
About Camber Creek
Camber Creek was founded in 2011. The firm focuses on technology start-ups working in and around real estate and the built environment, an arena to which the firm bring decades of experience and a powerful network of limited partners and advisors. The firm has invested in 22 companies which have collectively achieved 21 merited up-rounds and eight realized exits.
Camber Creek prides itself on being a strong partner to its portfolio companies. Camber Creek forges enduring relationships with promising entrepreneurs by making deep investments of time, energy, expertise, and funding – often well before an investment is made. The firm invests where it can bring value above and beyond simple capital through the power of the Camber Creek LP network.
SOURCE Camber Creek
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