Former Vornado Head Mitchell Schear Joins PropTech Venture Capital Firm
Schear was named executive partner of Camber Creek, a PropTech venture capital firm that has invested in 22 companies and currently has $50M under management.
Camber Creek's portfolio includes companies such as pop-up hotel concept WhyHotel, crowdsourcing investment platform Fundrise, leasing comps service Compstak and data management software Measurabl. It was also an early investor in VTS, which recently achieved a $1B valuation.
With over 30 years in the D.C. real estate industry, Schear is best known for his time as president of Vornado/Charles E. Smith from 2003 to 2017, when the firm merged with The JBG Cos. to form JBG Smith. Schear is now a member of JBG Smith's board of trustees. While at Vornado, he developed and managed the company's large portfolio in Crystal City, which last year landed Amazon HQ2.
Previously, Schear was president of The Kaempfer Co. from 1988 until it was acquired by Vornado in 2003, according to his LinkedIn page. He received his MBA from George Washington University and his undergraduate degree from Hobart and William Smith Colleges.
Since the Vornado-JBG merger, Schear has moved into the PropTech world. He has spent two years as a venture adviser for MetaProp NYC and he founded his own investment advisory firm, 10Square.