- First investment under ADQ’s EUR 4 billion bilateral investment partnership with Greece announced earlier this year
- DisruptAD will support Blueground in achieving its target to expand to 50 cities by 2025
DisruptAD, ADQ’s venture platform, announced an investment in Blueground, a Greek PropTech company offering a turnkey housing solution for renters globally.
Founded in Athens by CEO Alex Chatzieleftheriou, Blueground is a technology platform that provides users with a simple online booking experience to access long-term rental options in quality apartments located in desirable neighborhoods. Blueground has grown rapidly since its inception in 2013, now operating in 26 cities across Europe, North America and Asia with a portfolio of approximately 8,000 apartments. By the end of 2025, Blueground aims to expand its network of apartments to 35,000 located in 50 cities.
Amer Al Ameri, Head of Venture Capital and Technology Investments at ADQ, said: “Our investment in Blueground reinforces our commitment to promoting core sectors of the economy as part of ADQ’s Sovereign Investment Partnership with Greece. The success of disruptive technologies, such as the platform developed by Blueground, will act as a catalyst in accelerating the sustainable development of the Greek economy. With its rapidly expanding operations in mature real estate markets globally, Blueground has a promising journey ahead, coupled with its strong leadership team and vision for the company. Our collaboration will enable us to unlock growth opportunities in line with our mandate in delivering strong and sustainable financial returns.”
Alex Chatzieleftheriou, Founder and CEO, Blueground, commented: “The investment from DisruptAD will enable us to continue expanding our portfolio of apartments across the globe, reinventing the way people live by making high-quality apartments available where they want, when they want. As remote working has created greater flexibility in the workforce, our platform is uniquely positioned to support professionals who are looking to find a new home in their city of choice.”
ADQ launched DisruptAD in 2021 as its venture platform to enable entrepreneurial innovations. The platform aims to be a long-term partner by providing access to capital to early and late-stage startups, as well as support to founders through its various value creation activities that range from incubation to growth.