Simon Launches Venture GroupPosted: Updated:
Indianapolis-based Simon Property Group Inc. (NYSE: SPG) is forming a venture group to invest in retail innovation. The company says Simon Venture Group's investment portfolio will range from early-stage to high-growth technology companies.
March 20, 2014
Indianapolis, Ind. -- Simon Property Group, Inc. (NYSE:SPG), a global leader in retail real estate, announced today the launch of a new, dedicated Simon Venture Group. This new business will invest in retail innovation, focusing on opportunities that enhance the shopping experience.
Simon Venture Group will be investing across stages from early-stage to high-growth technology companies, making Seed to Series C+ investments and focusing on both direct and indirect strategic investment opportunities.
Mikael Thygesen, Chief Marketing Officer of Simon Property Group said, "We believe we have only scratched the surface on applying technology to the retail environment in innovative, interesting ways."
The new Simon Venture Group will be led by J. Skyler Fernandes, who will be responsible for identifying, evaluating, and making investments.
Fernandes was previously a partner at Centripetal Capital Partners, a multi-stage venture capital fund, where he concentrated on consumer Internet, retail, and high-tech with commercial applications. He is also the founder of One Match Ventures, a seed fund focused on consumer Internet and high-tech companies. Fernandes gave the first TED Talk on Venture Capital, entitled "Innovating the Financing of Innovation," and leads a number of global initiatives, including the Missing Middle Initiative, launched at the World Economic Forum in Davos, which is focused on creating funds that invest $100,000 to $3 million.
"We're excited to add Skyler to the team and look forward to his active engagement with the venture capital and start-up community to capitalize on opportunities that will yield benefits for our consumers and our retailers," Thygesen said.
About Simon Property Group
Simon Property Group, Inc. (NYSE: SPG) is an S&P 100 company and a global leader in the retail real estate industry. We currently own or have an interest in more than 325 retail real estate properties in North America, Asia and Europe comprising approximately 243 million square feet. We are headquartered in Indianapolis, Indiana and employ approximately 5,500 people in the U.S. For more information, visit simon.com
Source: Simon Property Group Inc.