Hines is proud to announce its spin-out of venture companies, all incubated at Hines. The companies include CQuel, Fabrik, and Varuna. These independent companies, born in the last 18 months out of Hines commitment to incubating and launching innovative solutions through early-stage venture creation, are expanding their reach beyond the Hines ecosystem following initial proof points and demand.
Spotlight on The Companies
As of September 2024, CQuel, Fabrik, and Varuna will operate as independent companies, each with Hines continuing as an investor, and maintaining positions on each company’s Board of Directors.
CQuel: CQuel is a digital marketplace and tendering platform helping asset managers deliver on their net-zero carbon plans by matching their projects with a vetted set of installers. CQuel is currently tendering net-zero projects worth more than $13 million and has built a network of 120 solution partners on its platform. CQuel is led by Pal Hvattum, a seasoned entrepreneur with experience leading marketplaces, and renewable energy businesses across Europe and Latin America. Visit cquel.io to learn more.
Fabrik: Fabrik is turning underutilized space into thriving hubs of community and connectivity to help fight the loneliness epidemic. The company has seen rapid adoption across New York City within just three months of launch, with a "Founding 50” member cohort and a growing set of ongoing users, demonstrating its potential to reshape how community builders and seekers can use space to foster connection and belonging. Fabrik is led by Jaclyn Pascocello, an experienced co-working entrepreneur and former COO of Spacious, which was sold to WeWork in 2019. Visit joinfabrik.com for more information.
Varuna: Varuna is building a community of fractionalized real estate investors, providing access to institutional-grade investment deals. Varuna has established key partnerships with leading developers across the US, also achieving a 95% sign up rate for its investment opportunity waitlist. Varuna is led by Edward Spiegel, a multi-time founder across the medical and property technology space. Explore more about Varuna at joinvaruna.com