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.
