Vinod Patel, Managing Director at Accenture, has made the decision to back new residential property business Make To Rent. He will also become an advisor to the fund management team at Sturgeon Ventures, where he has a long-term business relationship with Make To Rent’s portfolio manager.
When asked, he commented that “whilst property is an illiquid asset class this project addresses many of the issues facing tenants in recent times, such as the ability to work from home and their all-round mental health”. He further comments that “the correlation of investor success to management reward is also a powerful message”.
Sturgeon Ventures Portfolio Manager, Tim Peppiatt, commented, “having somebody of Vinod’s ability and gravitas invest, and become an advisor, will be hugely beneficial as we grow”. We have already seen a significant uptick in activity, with both investors and introducers wanting greater volumes of information. Communication and organisation at scale is something he has vast experience with and I’m sure will prove invaluable to us.
About Make to Rent
The simplest way to understand Make To Rent as an investor is to draw a comparison to WeWork, the serviced office provider. The fundamental difference being that our investors capital will be used to construct or purchase discounted assets in order to create superior asset growth and returns, not just leases. Make To Rent’s focus from the outset has been on regulatory compliance, the visibility of application for our investors’ funds, and the alignment of management rewards to performance. Raising funds in advance enables Make To Rent to move more quickly than others when advantageous opportunities present themselves.