European investment manager Peakside Capital Advisors has launched a blockchain-backed real estate fund for the German market.
The fund will focus on assets between €15 and €75 million ($17-$85 million). The company confirmed the rumour of using blockchain for it in a press release on 12th June.
The newly-created fund is a product of a partnership between Peakside and Brickblock, a German tech platform, which operates a blockchain-based investment management platform ScalingFunds.
Stefan Aumann, a founding partner of Peakside, announced during a press release that they are “looking to utilise the advances in digital technology to increase liquidity and transferability in the real estate fund sector as well as to broaden our investor base.”