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Thursday, Nov 21, 2024

American Homes 4 Rent Invests in VC Fund

Calabasas-based American Homes 4 Rent announced an investment in Vesta Ventures Fund I for an undisclosed amount.

Vesta is a residential-focused property tech venture capital fund that recently participated in Series A funding for companies such as pet-risk assessment company PetScreening and residential clean energy company Elevation Energy Solar Solutions.

“We are excited to partner with Vesta and expand our focus on residential proptech,” American Homes 4 Rent Chief Executive David Singelyn said in a statement.

American Homes 4 Rent is a real estate investment trust that invests in single-family rental homes. As of Sept. 30, last year, the trust owned 56,077 single-family properties in selected submarkets in 22 states.

“In keeping with our commitment to innovation, this investment provides us with access to the newest, cutting-edge technologies that focus on the resident experience and achieving operational efficiencies for our organization,” Singelyn added.

Shares of American Homes 4 Rent (AMH) closed up 55 cents, or more than 1 percent, on Thursday, a day when the Nasdaq closed up more than 3 percent.

Antonio Pequeño IV
Antonio Pequeño IV
Antonio “Tony” Pequeño IV is a reporter covering health care, finance and law for the San Fernando Valley Business Journal. He specializes in reporting on some of the biggest names in the Valley’s biotechnology sector. In addition to his work with the Business Journal, Tony has reported with BuzzFeed News on the unsupervised use of Clearview AI, a controversial facial recognition technology. Tony, who also conducts freelance reporting, graduated from the USC’s Master of Science in Journalism program in 2021. He is in his fifth year as a journalist as of 2021.

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