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No Risk Is an Island

Dave Eisenberg

Founding Partner, Zigg Capital

Dave Eisenberg is a Founding Partner of Zigg Capital, a VC firm focused on emerging technology companies in the real estate and construction industries. Zigg is an investor in Archipelago. Prior to Zigg, Dave was Co-Founder at CEO of Floored.

I recall sitting on the top floor of a Manhattan skyscraper in November 2012, wearing a tie that had sat untouched since college, waiting to pitch the executive team of one of the world’s largest commercial real estate portfolios. As a founder, I experienced the opportunities and challenges of selling into institutional real asset owners. On one hand, the industry is highly creative and analytical, willing to adopt proven tools to enhance NOI. On the other hand, real estate owners have done well for generations, absent technology adoption. As my fund, Zigg Capital, observed at its inception:

"When it comes to real estate, despite massive innovation in myriad fields, we find ourselves remarkably, living in [an unchanged world]. Maybe buildings are lined with fiber instead of copper, maybe underwriting models are stored in Excel rather than on paper. But the ways we value, construct, and inhabit the buildings around us have remained surprisingly static."

Over the past few years, as real estate portfolios have become increasingly complex and as an array of catastrophes (wildfires, hurricanes, COVID-19) have weighed on the commercial property insurance industry, access to affordable, modern, risk management solutions has become more difficult for real estate owners. The non-discretionary nature of commercial property insurance places an enormous burden on owners.

In Archipelago, Zigg backed an exceptionally talented team, well-known in risk management and technology circles. We also backed a product solving an acute pain point for the world’s most important owners of the places where we all live, work, and (hopefully soon!) socialize.

As we have worked closely with Hemant, Roger, Anthony and team, their expertise, relationships, and humility have convinced us that Archipelago is the best positioned platform to address the needs of commercial real estate risk management and brokerage participants, introducing dynamic SOVs, virtual roadshows, and advanced data reconciliation.

Property owners and operators are moving quickly to embrace digital, data-driven decision making. We believe Archipelago will serve as the platform of choice for risk mitigation and stakeholder alignment among the world's most sophisticated owners.

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"Property owners and operators are moving quickly to embrace digital, data-driven decision making. We believe Archipelago will serve as the platform of choice for risk mitigation and stakeholder alignment among the world's most sophisticated owners."

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