Era Ventures, a venture capital firm focused on the built environment, launched its inaugural $88-million fund. Founded by industry veteran Clelia Warburg Peters, Era Ventures has already garnered support from leading institutional investors, including one of the country’s leading Ivy League endowments, ICG Advisors, New York Presbyterian Hospital, The Ashforth Company, BGO, Continental General Insurance Company, Pelwood Holdings, First American, Bain Capital Ventures and Fenwick & West LLP.

The firm will deploy capital across multiple stages and a full spectrum of sector-focused innovations. Peters has identified seven core business models driving change, including SaaS and AI, marketplaces, embedded fintech, and hardtech ventures leveraging new technologies to optimize physical assets.

A leading investor in the proptech space since its early days, Peters reportedly is the first woman to raise an initial fund of this size in the category. “Era Ventures is leveraging our unique blend of institutional backing, top-tier venture experience, and deep real estate expertise to bring both rigor and care to driving transformational change in the physical world,” she said.