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Luxurious Second Home Ownership without the Headache: How Pacaso is Changing the Landscape of Real Estate
dot.LA Weekly Update
Christine Rothacker & Grace Lee
September 27, 2024
🔦 Spotlight
Image Source: Pacaso
Pacaso addresses the pain points of second home ownership, offering a luxurious, flexible, and financially sound alternative to traditional second homes and ultra-luxury hotels. Co-founded in 2020 by entrepreneur Austin Allison and former Zillow executive and prominent LA tech figure Spencer Rascoff, Pacaso, an unicorn startup, has redefined vacation home ownership with its unique co-ownership model. Rascoff's contributions to the LA tech scene extend beyond real estate; he also founded 75 & Sunny, an LA-based startup studio and venture fund, and co-founded dot.LA, an LA tech news and events company.
LA residents adore Pacaso for its lush vacation destinations that also make for smart investments. Pacaso offers everything from serene weekend getaways in Aspen to sophisticated escapes in Paris. Each residence, valued between $200k to over $2M for 1/8th, boasts meticulous design, high-end furnishings, and premium amenities. Unlike traditional second home ownership, which involves high costs, maintenance, and underutilization, or ultra-luxury hotels, which lack the personal touch and investment potential, Pacaso's co-ownership model offers a superior solution. Co-owners enjoy the benefits of a high-end vacation home without the full financial burden and hassle of sole ownership, making it a smarter and more flexible choice for discerning buyers.
Image Source: Pacaso
Cabo, Mexico
$822,000 (1/8th ownership)
5 bds. l 5 ba. l 4,969 sq ft
Image Source: Pacaso
Paris, France
$600,000 (1/8th ownership)
2 bds. l 2.5 ba. l 1,410 sq ft
Image Source: Pacaso
Malibu, California
$750,000 (1/8th ownership)
3 bds. l 3 ba. l 1,880 sq ft
Image Source: Pacaso
Park City, Utah
$755,000 (1/8th ownership)
4 bds. l 4.5 ba. l 2,584 sq ft
Head to Pacaso to learn more about its innovative co-ownership model that addresses the common challenges of second home ownership!
🤝 Venture Deals
LA Companies
Oak Essentials, the natural skincare brand founded by Jenni Kayne, has raised an undisclosed amount in Series A Funding from Silas Capital and Unilever Ventures. This investment will drive the brand’s expansion, focusing on product development, boosting marketing efforts, and expanding distribution channels. - learn more
Playhouse MD, an upcoming children’s healthcare platform that incorporates play to enhance health outcomes, has raised $4M in funding, according to a recent SEC filing. - learn more
FluidLogic, a high-performance hydration system provider, raised $15M in a Series A Extension led by Solyco Capital to support product development and innovation for adventure sports and outdoor endurance categories, with consumer products launching in early 2025. - learn more
Reflect Orbital, which uses in-space reflectors to direct sunlight to solar farms and large-scale lighting applications after sunset, has raised $6.5M in seed funding led by Sequoia Capital. The funding will help the company develop production vehicles and expand its team as it builds space-based energy infrastructure. - learn more
Feno, a Los Angeles-based company developing an AI-powered energy trading platform, raised $6M in seed funding led by Bold Capital Partners. - learn more
LA Venture Funds
Finality Capital led a $4M Pre-Seed Funding Round for Octra, a pioneering blockchain network focused on Fully Homomorphic Encryption (FHE). - learn more
Smash Capital led a €20M Series B round into Vilnius-based Ovoko, an e-commerce platform for buying and selling used car parts across Europe, marking Smash Capital's first investment in Lithuania. The funds will support Ovoko's product development, market expansion, and team growth as it aims to dominate the European market for second-hand automotive components. - learn more
M13 led a $9M Series A Funding Round for Zenlytic, the world’s first self-serve business intelligence platform. - learn more
LA Exits
Donut Digital, a Manhattan Beach creative-led performance marketing agency, agreed to be acquired by New Engen, a leading digital marketing agency. - learn more
National Emblem Inc., a renowned manufacturer of emblems and specialty products, has been acquired by Enrich Enterprises Inc., which will now operate under the National Emblem tradename. - learn more
Continuum Global Solutions’ healthcare vertical has been acquired by Everise, a customer service management company, enhancing Everise’s capabilities in pharmacy benefit management and expanding its growth prospects in the healthcare sector. - learn more
Radical Semiconductor, a company specializing in processing-in-memory technology, has been acquired by BTQ Technologies, a leader in post-quantum cryptography. This acquisition strengthens BTQ’s ability to secure data in the post-quantum era by integrating Radical Semiconductor's advanced technology portfolio. - learn more
Subrosa Digital, a full service digital marketing and consulting agency, was acquired by Navio Networks, a leading CTV operator in Free Ad-supported Streaming TV (FAST). - learn more
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