Lowenstein Sandler represented REDIST, a B2B SaaS platform for commercial real estate professionals, in the completion of a $1.9 million Seed Round. Investors included housing-focused venture capital firm Hometeam Ventures, crossover investment fund Park West Asset Management, and Empire State Development’s venture capital arm, New York Ventures, as well as Riggs Kubiak and Scott Wolfe.
Founded by Atif Qadir, AIA and Jonathan Kuo, REDIST aims to help commercial real estate professionals (including developers, investors, and brokers) save time and money on their deals and access more opportunities. Using REDIST Projects, a cloud-based software that identifies, curates, and sizes all eligible incentives for a specific property address, REDIST aggregates the $100 billion of real estate incentives distributed annually across more than 10,000 programs in 18 different categories, including tax abatements, tax credits, soft loans, and grants from HUD, as well as other exemptions like opportunity zones or qualified census tracts, with a special focus on affordable housing and energy efficiency incentives.
REDIST’s PropTech startup team of seven operates out of the Columbia Startup Lab. Its founders completed Accelerate 2020 with Bowery Capital and Silicon Valley Bank and were participants in Lowenstein Sandler’s VentureCrushFG and VentureCrush FGX programs.
The Lowenstein deal team included Anthony W. Raymundo.
About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.
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