Simon Property launches new business to invest in retail tech innovation

Indianapolis -- Simon Property Group is launching a new business, Simon Venture Group, that will invest in retail innovation, focusing on technology opportunities that enhance the shopping experience.



"We believe we have only scratched the surface on applying technology to the retail environment in innovative, interesting ways," said Mikael Thygesen, chief marketing officer of Simon Property Group.



The new venture will be led by J. Skyler Fernandes, who will be responsible for identifying, evaluating, and making investments. Fernandes was previously a partner at Centripetal Capital Partners, a multi-stage venture capital fund, where he concentrated on consumer Internet, retail, and high-tech with commercial applications. He is also the founder of One Match Ventures, a seed fund focused on consumer Internet and high-tech companies.

Simon Property currently owns or has an interest in more than 325 retail real estate properties in North America, Asia and Europe comprising approximately 243 million sq. f.



Plans call for Simon Venture Group to invest in early-stage to high-growth technology companies, making seed to series C+ investments and focusing on both direct and indirect strategic investment opportunities.