Mention the word “crowdfunding” to almost anyone in the large-scale investment community and they will look unconvinced.
Many hold the devout belief that getting together large clubs of small-scale retail investors to buy into complex property transactions is a process so tricky that it heavily caps transaction sizes to around £2m. And, in short, is more effort than it is worth.
But Tel Aviv firm Hagshama is bucking that trend. Founded in 2009, and better known in the UK and Europe as Cogress – its subsidiary investment house – Hagshama has grown to become the world’s largest property crowdfunding business.