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Proseed Capital is a specialist property development finance company who focus on unlocking value from UK residential assets by lending funds to carefully selected developers, enabling the completion of their projects, in a market where traditional bank finance has become constrained.
They source off-market deals through their extensive network and complete loans using their own capital, subject to extensive due diligence of borrowers and their development projects.
The senior management team has over 100 years of collective experience in the residential market, having been senior executives at Grainger, Chancery St James, Gladedale Group, Berkeley Homes, and Price Waterhouse Coopers.
To date, Proseed Capital have funded 27 projects, all of which have repaid or are forecast to repay their capital and interest in full.
You can view the biographies of their senior team below.
Richard Rawlins
CEO
Richard is the Chief Executive Officer of Proseed Property Ltd which he jointly created with Phil Curwen in February 2016.
Richard joined Chancery St. James (SJP) as CEO in 2010 and during the next three years oversaw the strategic disposal of approximately £900m of residential assets, providing liquidity for exiting investors whilst preserving value for the remaining investors. Following the completion of the sales programme Richard purchased CSJ together with Phil Curwen, having secured ongoing management of the majority of the sold assets from new investors.
Richard was previously at Grainger PLC where he was the Fund Manager of G:res, an institutionally-backed residential investment fund. Richard was instrumental in the origination and marketing of the Fund which was seeded with £200 million of assets and was responsible for acquisitions of an additional £250 million within its 3-year investment period and a continuing development programme throughout the life of the fund.
Prior to this Richard was Director of Acquisitions for the Charterhouse London Residential Property Fund, an LLP sponsored by HSBC with assets of £150m.
Richard is a qualified chartered surveyor. He started his career with Daniel Smith Surveyors which specialised in the management of several large London residential estates.
Phil Curwen
CFO
Phil is the Chief Financial Officer of Proseed Property Ltd which he jointly created with Richard Rawlins in February 2016.
Phil joined CSJ as FD in 2010 and spent the first three years strategically and financially reorganising the portfolio. This culminated in the full redemption of existing Fund investors and liquidation of the Funds, before which the peak value had reached £900m. During the reorganisation Phil acquired CSJ in partnership with the existing CEO, Richard Rawlins, and negotiated management contracts for circa £500m of the assets.
Prior to this, Phil was the FD and latterly the CEO for a UK-based residential mezzanine fund which invested into London residential development opportunities. Phil’s experience also includes a role as Group Financial Director for the Gladedale Group, the largest private residential developer in the UK with turnover of approximately £1bn. Prior to that, Phil was Divisional Financial Director at The Berkeley Group for 6 years, with responsibility for a number of large central London mixed use development schemes.
Prior to this Phil worked for Rawlinson & Hunter, qualifying as a Chartered Accountant and leaving in 1997, to join a high net worth private client as Financial Director for their group of companies with business focused on property investment, retail stores and wholesale distribution.
Richard Nordgreen
Head of Investments
Richard is responsible for managing the underwriting, due diligence, negotiation and execution of new investments. In addition, Richard manages the delivery of the Business Plans for the existing contracts.
Prior to this, he worked at PricewaterhouseCoopers in the Banking and Capital Markets division where he qualified as a Chartered Accountant. Richard holds a first class honours degree in Economics and Business Management from Newcastle University.
Key Responsibilities:
- Investment underwriting, due diligence, structuring and execution
- Monitoring on-going projects and managing their delivery
- Perform analysis, and make recommendations, on strategic and operational decisions affecting the portfolio and the business
- Responsible for managing ongoing Investor and Borrower relations
- Assisting in the origination of new lending opportunities
Read Proseed's due diligence approach
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We have designated this investment opportunity as only appropriate to clients who have self-classified as High Net Worth or Sophisticated Investors. You can check your classification by logging in to your account, navigating to the Personal Details tab under 'Investor classification'. If you feel your circumstances have changed since you last self-classified, you can reclassify by clicking the blue button.
Capital at risk. The value of your investment can go down as well as up. The Financial Services Compensation Scheme (FSCS) protects the cash held in your Property Partner account, however, the investments that you make through Property Partner are not protected by the FSCS in the event that you do not receive back the amount that you have invested. Past performance is not a reliable indicator of future performance. Interest and capital returned may be lower than expected. Property Partner does not provide tax or investment advice and any general information is provided to help you make your own informed decisions. Customers are advised to obtain appropriate tax or investment advice where necessary. Please read Key Risks before investing.
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