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Pacaso
Fintech
Pacaso is a San Francisco-based real estate technology company that lets multiple buyers co-own a share of a luxury vacation home, handling the legal structuring and management of these fractional ownership arrangements.
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Pacaso was founded in 2020 by Austin Allison and Spencer Rascoff, the latter a former Zillow CEO, based on the observation that many people who would enjoy owning a second home, particularly a vacation property in a desirable location, are priced out of full ownership or don't want to bear the full cost and maintenance burden of owning a property they might only use for a few weeks each year, creating an opportunity for a more structured, professionally managed version of shared vacation home ownership than the informal, often legally and logistically complicated arrangements that friends or family members co-purchasing a vacation home together have traditionally had to figure out themselves. Pacaso's model involves purchasing desirable vacation properties, then selling fractional ownership shares, typically to a group of eight or fewer co-owners, structuring the ownership through a dedicated LLC for each property that handles the legal and financial complexity of shared ownership, including a scheduling system that allocates fair usage time among the various co-owners, and Pacaso itself provides ongoing property management services covering maintenance, cleaning, and other upkeep that would otherwise need to be coordinated among the co-owners themselves. This structured approach addresses common pain points that have historically made informal shared vacation home ownership among friends or family complicated and prone to interpersonal conflict, including disputes over usage scheduling, disagreements about maintenance responsibilities and costs, and the complexity of eventually selling or transferring an individual owner's share if their circumstances or preferences change, all of which Pacaso's professional management and legal structuring are designed to address more smoothly than an informal arrangement between friends or family typically would. The company has focused on desirable vacation destinations across the United States and, more recently, some international markets, targeting affluent buyers interested in vacation home ownership without the full cost and management burden of sole ownership. Pacaso has raised very substantial venture funding from investors including SoftBank Vision Fund and Fifth Wall, reaching unicorn status within approximately a year of its founding.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
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