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Nine Four Ventures
Nine Four Ventures is a vertically integrated, multi-stage real estate technology venture fund.
Nine Four Ventures
Nine Four Ventures is a vertically integrated, multi-stage real estate technology venture fund. It invests in companies impacting the people, processes, and ecosystems that interact with the built world, which transcends the real estate asset lifecycle and includes industries that sell to and through real estate such as insurance and maintenance. The firm is backed by institutional owners and managers across real estate asset classes such as the Laramar Group, family offices, and globally-recognized firms such as Ace Hardware, State Farm Insurance and Valley National Bank to offer lifecycle capital, customers at scale, deep real estate operating expertise, and a safe laboratory environment for companies to test new markets, technologies, and strategies before launching publicly. Nine Four also has a unique investor network made up of home services executives that have built businesses such as ServiceMaster, Sears Home Improvement, Home Depot, Lowe’s, and some of the largest companies in roofing, pest control, and maintenance. In 2018, we noticed the venture investing landscape lacked a pool of capital dedicated to the unique needs of PropTech startups. Many firms lacked the expertise needed to identify real estate technology and/or an ability to help scale it across the built world. Nine Four Ventures fills that void with experience and a collective approach to steward startups across the PropTech ecosystem.
General information
Firm type
Venture Capital
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Additional offices
San Francisco · New York City
Principals
Jeffrey Elowe
Founder & General Partner
Kurt Ramirez
General Partner
Paul La Londe
Partner
Sophia Ghadamian Kier
Principal
Sector focus
Frequently asked questions
Who runs investment decisions at Nine Four Ventures?
The firm lists four named investment professionals on its team page: Founder and General Partner Jeffrey Elowe, General Partner Kurt Ramirez, Partner Paul La Londe, and Principal Sophia Ghadamian Kier. Elowe founded the firm; the precise investment committee structure is not publicly detailed. The core GP group guides strategy from Chicago, San Francisco, and New York City.
How does Nine Four Ventures source proprietary deal flow?
The firm's most distinctive sourcing advantage is its owned national real estate portfolio, which doubles as a product laboratory. By providing startups with operating sites for testing and iteration, Nine Four Ventures attracts founders who value physical-world feedback loops. The firm also connects its companies with a network of commercial real estate owners and managers across asset classes, creating a demand-side funnel for PropTech solutions.
Is Nine Four Ventures a family office or a venture firm?
Nine Four Ventures is structured as a venture capital firm, not a family office. It takes limited-partner capital and invests across a portfolio of early-stage PropTech companies. The firm's own website identifies the team as venture investors, and there is no public indication of single-family or multi-family office structure.
Does Nine Four Ventures participate in fund commitments or only direct deals?
Publicly available information describes Nine Four Ventures only as a direct investor into early-stage PropTech companies. There is no disclosure of fund-of-funds commitments or LP stakes in other venture managers. Available evidence points to a direct-deal model.
What investment stages does Nine Four Ventures typically target?
The firm targets Pre-seed, Seed, and Series A as its core stages. It states that it selectively considers Series B and later rounds when the strategic fit is strong. The portfolio includes follow-on investments, as seen in Steadily's Series C round that closed with $30 million.
Which sectors does Nine Four Ventures explicitly avoid?
Nine Four Ventures does not publish a list of explicitly excluded sectors. The firm's stated focus is strictly PropTech — technologies impacting the people, processes, and ecosystems that interact with the built world. Sectors outside the built-environment mandate are implicitly outside scope, though no negative list is published.
What is Nine Four Ventures' known posture on co-investments alongside external GPs?
The firm's public materials do not describe a co-investment program or policy. In the Steadily Series C deal, Two Sigma Ventures led the round and Nine Four Ventures participated as an existing investor, indicating it reinvests alongside new lead investors but does not confirm a formal co-investment platform with other GPs.
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