Austin’s CrowdStreet Raises $43 Million to Expand Product Offering

Austin-based CrowdStreet, an online real estate investing platform has raised $43 million in equity and debt capital to help fund the company’s growth and make the market for online real estate investing.

Equity capital came from a prominent group of strategic investors including Fortune 100 financial services company TIAA, which is making an investment through its newly launched TIAA Ventures program. TIAA’s Shawn Lese added this, “CrowdStreet’s innovation is modernizing, demystifying, and streamlining access to commercial real estate so that more investors have the potential to reap the benefits of investment in the asset class.” CrowdStreet has chosen Austin as its best place to invest and Dallas is 8th.

As of August 2022, 138 investments on the platform had been fully realized, generating an average 17.5% IRR and an average equity multiple of 1.50x. CrowdStreet is looking to expand its product and service offerings, giving even more individual investors and financial advisors new ways to access private commercial real estate.