Rebuild the world by backing the right founders.
We wrote down what we believed about the built world in 2023, put real capital behind it, and published how it held up. Creci Ventures is a small proptech fund and this is the whole record.
Fund I, first close April 2024. Two positions. One reached an acquisition inside eighteen months. How each tenet held up, including the one that failed, is on the thesis page. Fund I is fully deployed and we are not reviewing new founder pitches.
Construction of industrial, commercial and residential real estate.
Real estate, rental and leasing, on top of construction.
Output per worker in construction, against a widening skilled trades gap.
Sources: US Bureau of Economic Analysis, value added by industry as a percentage of GDP, Q1 2026. Federal Reserve Bank of Richmond, Five Decades of Decline: U.S. Construction Sector Productivity, 2025.
Technology is leverage for the built world.
Fund I was built small on purpose. A small fund can return capital in ways a large one structurally cannot, and we built for returns rather than for assets under management. Then the timing went against that bet, hard and across the whole market. In 2024, the year of our first close, the top nine US venture firms took half of all commitments and the top thirty took 75%. Every emerging manager outside that top thirty shared 14%, while institutional LPs cut back on first-time funds and waited for the IPO window to reopen. We deployed what we closed against the thesis rather than wait it out. That is enough to test whether the thesis is coherent and whether we can source, diligence and work alongside real companies. It is not enough to prove returns, and we do not claim it is. We look for founders with a clear view of the future of the built world and the stamina to build it, and we are hands-on rather than passive.
We are realistic about how technology gets in. Development, construction and distribution run on decades of ingrained ways of getting things done, spread across necessarily fragmented geographic markets. We believe it is the founders who worked inside those paradigms who ultimately succeed.
His introductions to customers, partners, and fellow investors were invaluable … his unwavering support and guidance were instrumental in our success.
Josh McBride, Founder of Upsider (exit to Recruiter.com)
Fundraising concentration: PitchBook, US VC fundraising concentration, 2024.
Market and technology movements
More of what people and businesses do is going to be modeled digitally, and more decisions will be made from that data. The software layer keeps commoditizing, and in an age of generated code the interface may dissolve entirely. What cannot be commoditized is the underlying data, and that is where the value settles.
2026 verdict: Held. We would write it harder.
Business properties
At the early stage we prefer companies already past their most violent course corrections. Surviving that volatility tells us the founders have the stamina, and that they have learned enough about their customer and their model to move faster with less left to discover.
2026 verdict: Did not protect us.
Founder characteristics
Most companies succeed because of determination, not the best idea or the smartest founder. The most determined people are the ones being honest with themselves about whether they care about what they are building. We take a humble warrior over a fearless leader every time.
2026 verdict: Held, and we would weight it heaviest.
The tenets descend in scale. Market, then business, then the individual entrepreneur.
plotr built a location intelligence tool that helped businesses use data to make better decisions.
An end to end system of engagement for commercial real estate brokers.
Jason Fernandez
General Partner at Quake Capital, where he runs the fund and leads LP reporting. Managing Member of Creci GP I, LLC. Managed the acquisition that brought IdealSpot’s assets into plotr. Duke MBA.
Ian Herrington
Venture partner at Quake Capital and active in commercial real estate development, which puts a practicing developer’s read on everything we diligence. LinkedIn
Fund I is deployed. The thesis is open.
We are not reviewing new founder pitches. Everything else is a conversation we are glad to have: the thesis, the portfolio, the people who ran it.