July 22, 2019
This blockchain platform aims to become the new solution for digitalizing real estate investment operations. Mata Capital thus becomes the first operator in the real estate industry to leverage blockchain technology for real estate investments. Mata Capital, an independent real estate investment fund manager with approximately €600 million in assets under management, today announced the adoption of blockchain technology to optimize the processing of securities registers for its real estate investment products.
The launch of this new platform was carried out in partnership with ConsenSys, a leading player in the development of enterprise blockchain software, and with the advice of Screeb Notaires, a notary firm that supports innovative projects in the real estate sector.
Since the decree of December 24, 2018, financial market participants have indeed had the option to use a shared electronic recording system for the representation and transfer of financial securities. Driven by the evolution of the regulatory framework and its strong convictions about blockchain technology, Mata Capital decided to adopt this innovative technology to record and process some of its real estate investment operations.
Specifically, Mata Capital will register financial assets – in this case, the shares of a capital company owning a real estate asset – and its rights through a "token"* represented on the Ethereum blockchain. In addition to significantly reducing liability management costs for the issuer, blockchain improves the liquidity of unlisted assets, increases operational transparency, and reduces the risk of fraud.
"Tokenization aims to provide better liquidity to our investors, especially on the secondary market," explains Baptiste Saint-Martin, Product Development Manager at Mata Capital. "Innovation is at the heart of Mata Capital's strategy, as illustrated by the recent implementation of an operational platform to secure all information related to our investors," adds Souleymane-Jean Galadima, Head of Innovation and Digital Business at Mata Capital.
The blockchain platform offered by Mata Capital, which will be operational from July 31, offers several key features for investors:
1 - It enables the maintenance of securities accounts for real estate vehicles via blockchain.
2 - It allows all AML ("anti-money laundering") and KYC ("know your customer") procedures to be carried out through the platform.
3 - It offers the possibility to track the subscription status for a fund or a "club-deal" operation.
Ultimately, it could allow investors, in particular, to easily subscribe to and resell their securities over-the-counter, starting from one euro cent.
This new blockchain platform will be used for a real estate project, structured as a club-deal, located in the 15th arrondissement of Paris, with an investment volume of €26 million. "This will be the largest tokenized operation in Europe," emphasizes Baptiste Saint-Martin. In the future, its purpose will be to process all eligible Mata Capital operations, which also intends to offer this white-label solution to professional partners in the financial and/or real estate sector.
To successfully carry out this project, Mata Capital relied on ConsenSys' expertise and its turnkey products enabling white-label tokenization of financial assets. ConsenSys products allow companies to easily connect their businesses to decentralized networks, to deploy and manage new Blockchain networks, read and write transactions, or create and manage digital assets.
"This first step marks the beginning of a radical transformation of the real estate sector. With the ConsenSys platform, we enable our clients to move from the age of experimentation to that of industrial scaling," comments Matthieu Bouchaud, Head of Real Estate, ConsenSys.
Screeb supported Mata Capital in implementing the solution with a "trusted third party" mission. With this project, which illustrates the evolution of the notary profession in supporting innovative real estate solutions, Screeb confirms its ability to advise digital transformation players, drawing on its experience in institutional real estate.
"The project led by Mata Capital is a major innovation in how financial securities transactions with an underlying real estate asset are conceived and processed in a completely secure and digitized manner. We can truly speak of 'digital stone,' a natural evolution of 'paper stone'," state Arthur Cazalet and Damien Mancel, associate notaries at Screeb.
*A "token" is a digital asset issued and tradable on a blockchain
About Mata Capital
Mata Capital is an independent asset management company specializing in real estate fund management on behalf of institutional investors and private family groups.
The company focuses on investment strategies ranging from core+ to opportunistic risk profiles across all real estate asset classes.
Established in 2015, Mata Capital employs 19 professionals and managed €600 million in assets as of June 30, 2019. Mata Capital is authorized as a Portfolio Management Company by the French Financial Markets Authority (Autorité des Marchés Financiers) under registration number GP-16000024.
About ConsenSys
ConsenSys is the world's largest blockchain software company, founded in 2014 by Joseph Lubin, co-founder of Ethereum. ConsenSys has over 1000 employees in 30 countries.
ConsenSys software enables businesses and governments to easily and securely connect their operations to new decentralized ecosystems. Products such as Infura, Pantheon, Kaleido, MythX, Alethio, ConsenSys Digital Assets, and Treum allow for the deployment and management of multiple blockchain networks, conducting transactions without intermediaries, and creating and managing digital assets, both financial and non-financial.
ConsenSys also offers consulting and blockchain technology integration services to large enterprises.
ConsenSys Labs invests in blockchain startups and currently manages a portfolio of around fifty projects.
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About Screeb Notaires
A long-standing player in the Parisian market, Screeb has built its reputation on the excellent support the firm offers to institutional, private, and professional clients.
The firm has eleven notaries and around forty employees who operate with rigor and efficiency in real estate, banking and finance, and wealth and family matters.
But Screeb's excellence stems from its ability to adapt to changes impacting its clients. Always evolving, the firm develops insightful solutions tailored to new demands and challenges.
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About Alphacap
Alphacap is a 100% digital investment platform for individual and professional investors.
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