INDIANAPOLIS—Simon Property Group, Inc. currently owns or has an interest in hundreds of retail properties around the world, but the spread of online shopping has changed the way retailers interact with customers, and Simon has just decided to launch a new venture that will invest in technology companies focused on retail innovation.
"We believe we have only scratched the surface on applying technology to the retail environment in innovative, interesting ways,” says Mikael Thygesen, chief marketing officer for the Indianapolis-based Simon.
The new undertaking, dubbed Simon Venture Group, will invest in early-stage to high-growth tech companies, making Seed to Series C+ investments and both direct and indirect strategic investments.
Simon has hired J. Skyler Fernandes to identify, evaluate and make the investments. Fernandes was previously a partner at Centripetal Capital Partners, a venture capital fund, where he concentrated on consumer Internet, retail, and high-tech with commercial applications. He also founded One Match Ventures, a seed fund focused on consumer Internet and high-tech companies.
Fernandes gave the first TED Talk on venture capital, and leads a number of global initiatives, including the Missing Middle Initiative, launched at the World Economic Forum in Davos, which focuses on creating funds that invest $100,000 to $3 million.
"We're excited to add Skyler to the team and look forward to his active engagement with the venture capital and start-up community to capitalize on opportunities that will yield benefits for our consumers and our retailers," Thygesen says.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
