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Andrew Peng

Andrew Peng

PropTech investor & researcher focused on real estate, ConTech, and Asia

andrewpeng
New York, New York
Joined October 2025
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Summary

Investor and researcher focused on PropTech, construction tech, and metaverse infrastructure — Andrew has built investment theses and published multiple Alpaca Field Studies that combine market research with sector mapping (e.g., virtual real estate, U.S. power availability). His work at Alpaca centered on sourcing early-stage opportunities in PropTech/ConTech and producing long-form research to guide investment decisions. alpaca+2
Asia strategy and cross-border partnership builder — while at Alpaca he led efforts to engage Asian real estate allocators and operators, positioning Alpaca as a bridge between U.S. PropTech startups and Asian capital/partners. He authored guidance for Asian investors on the U.S. PropTech landscape. medium+1
Background in urban planning, economic development, and real estate operations — prior to VC, Andrew worked in program management and policy research at Smart Growth America and in acquisitions at Jair Lynch Real Estate Partners; that combination of public-sector planning and private real estate deal experience informs his investment lens on infrastructure, development, and built‑world technologies. smartgrowthamerica+1
Communicator and writer who publishes long-form research — Andrew frequently authors and co-authors Alpaca Field Studies and Medium posts to articulate investment theses and translate technical/regulatory topics (e.g., grid resiliency) for investors and operators. medium+1

Work

Education

Projects

Writing

Field Study: U.S. Power Availability

December 1, 2024

Part One of Alpaca's multi-part Field Study on U.S. power availability and grid resiliency; surveys transmission/distribution bottlenecks, decentralization, and technology/regulatory tailwinds for grid investment and innovation.

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Opportunities for Asian Investors in US PropTech

May 1, 2023

Essay on differences between Asian and U.S. real estate markets and how Asian allocators can engage with U.S. PropTech; describes Alpaca's Asia strategy and partnership approach.

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Field Study: Virtual Real Estate & The Metaverse

December 1, 2021

Research piece analyzing virtual real estate, NFT-based ownership models, metaverse platforms and investable infrastructure; outlines core value drivers and startup/infrastructure opportunities.

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Hobbies

Travel — has traveled extensively across U.S. states (mentions visiting 43 of 50 states) medium

Interest in gaming / metaverse ecosystems and virtual real estate (author of metaverse Field Study) alpaca

Notes

JBJeremy Burtonsaid they've seen
APAndrew Peng
add significant value as a venture capital investor to founders or startups.

Oct 15, 2025