Technology

Digital technologies have democratized existing data that’s historically been controlled by giant brokerages.

. The firm is initially targeting a $50 million fund and will allow investors to contribute as much as $100 million in additional capital alongside the fund.

Backers of MetaProp Ventures II LP include Prudential Financial Inc.’s investment management arm PGIM, Scott Rechler’s RXR Realty and three of the biggest commercial property brokerages.

We are starting to see new technologies make their way into the industry, such as blockchain.

Ori Allon, co-founder and executive chairman of Compass, said the company will use part of the $100 million from its new funding round to invest more in research and development.