SAN FRANCISCO, Sept. 12, 2022 /PRNewswire/ — Sway Ventures today announced that multi-decade commercial real estate operator and former Blackstone backed, EQ Office CEO, Lisa Picard has joined the firm as a Partner. Picard adds to the PropTech team at Sway Ventures, which includes Ray Wirta, former Chairman of CBRE, as well as advisors including Doug Holte, CEO for Hines Global Innovation & ESG; Stephanie Fuhrman, former MD of Innovation at Greystar; and Mollie Fadule, Chief Financial & Investment Officer at JPI Companies; among others.
“We are so excited to welcome Lisa to Sway Ventures and are confident that her extensive experience across commercial real estate as an operator will be an asset to our investing team and portfolio companies alike,” said Brian Nugent, Founding General Partner at Sway Ventures. “We have no doubt she will be a valuable contributor to Sway’s PropTech investing practice.” Venture Partner, Ray Wirta added, “It’s rare to see such a seasoned real estate veteran like Lisa join the world of PropTech investing.”
“I’m thrilled to be joining the team at Sway Ventures at a time of evolution and maturation for PropTech,” said Lisa Picard. “We are witnessing a major shift in the real estate space as technology is fundamentally transforming the industry and redefining everything from the client experience, to how owners and operators manage risk. Sway Ventures was an early mover in the space nearly a decade ago, and I’m looking forward to deploying capital into the next generation of category-leading PropTech companies.”
Picard joins Sway following her 25-year career in nearly every area in real estate having developed $8+ billion in complex ground-up projects (i.e., office, multifamily, hotel, and mixed-use). Most recently, she was the CEO of Blackstone’s office investment platform, EQ Office, leading the 200-person organization and strategy for a portfolio valued at over $27 billion.
Picard has a track record for innovative, high-quality projects that push the market in areas of customer experience and sustainability. Picard holds two master’s degrees from MIT and continues to lecture on topics including design thinking and mindful leadership, as well as driving innovation and understanding risk. Prior to Blackstone, she opened the West Coast office for Skanska Commercial Development launching four development deals in five years valued at over $3 billion (with successful exits to institutional investors).
Picard has also held leadership positions at Canyon Ranch Resorts and Hines and spent several years developing investment strategies for three different institutional funds on new and existing multifamily and industrial assets. She brings formidable asset management, innovation, and business transformation expertise to Sway Ventures.
“Lisa has been someone that founders like myself look up to when it comes to her insight and vision around the transformation of this industry,” said Matt Ellis, CEO and founder of Measurabl, a Sway Ventures PropTech portfolio company. “Her addition is a further vote of confidence in the team at Sway, and we look forward to working with her.”
Sway Ventures has deep roots in both the real estate and construction sectors with nearly a decade of investing expertise across all stages. They were early investors in a number of pioneering PropTech companies, including Measurabl, the ESG platform built for commercial real estate, OpenGov, the modern cloud software for government, and Camino, a next-generation platform for permitting, licensing, and remote inspections. Since 2013, Sway Ventures has invested more than $80 million in PropTech and adjacent companies.
Sway Ventures is a US-based venture capital firm that backs industry-disrupting founders from inception to exit. For nearly a decade, Sway Ventures has invested in 65+ companies across four foundational industries: Finance, Real Estate, Retail, and Supply Chain. They look for teams with an ambitious vision to sustainably lead their industry. Sway Ventures like to invest early, deliver value, and continue to back companies as they grow. For more information on Sway Ventures and its portfolio companies, please visit, https://swayvc.com.