SCHEDULE: RET Ventures Group Discloses 6.7% Passive Stake in SmartRent, Inc.

A group of RET Ventures entities and individuals, including John Helm and Christopher Yip, have collectively reported a 6.7% beneficial ownership stake in SmartRent, Inc., totaling 12,515,267 Class A Common shares.

Summary

• A Schedule 13G filing indicates that a group of entities and individuals associated with RET Ventures beneficially own 12,515,267 shares of SmartRent, Inc.'s Class A Common Stock.
• This aggregate ownership represents 6.7% of SmartRent, Inc.'s outstanding Class A Common Stock.
• The percentage is calculated based on 188,178,506 shares of Common Stock outstanding as of May 5, 2025, as reported by SmartRent, Inc. in its Quarterly Report on Form 10-Q filed on May 7, 2025.
• The reporting group includes RET Ventures Strategic Fund, L.P., RET Ventures Associates III, L.P., RET Ventures Affiliates III, L.P., RET Ventures III, L.P., RET Ventures Strategic Fund GP, LLC, RET Ventures III GP, LLC, John Helm, and Christopher Yip.
• John Helm beneficially owns 11,576,328 shares, representing 6.2% of the class, with both sole and shared voting/dispositive power.
• Christopher Yip beneficially owns 9,522,932 shares, representing 5.1% of the class, with both sole and shared voting/dispositive power.
• The filing explicitly states that the securities were not acquired and are not held for the purpose or effect of changing or influencing the control of SmartRent, Inc.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, which is neutral in sentiment. The passive nature of the investment (13G) indicates no immediate negative intent, and the significant stake can be seen as a positive signal of investor confidence.

Positives

• Significant investment by a venture capital group, RET Ventures, indicating confidence in SmartRent's long-term prospects.
• The passive nature of the investment (Schedule 13G) suggests no immediate intent to disrupt current management or strategy.

Future Outlook

NA

Management Comments

• The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing indicates continued institutional interest in companies within the smart home or real estate technology sector, as RET Ventures specializes in real estate technology.

Comparison to Industry Standards

• The 6.7% stake is a significant passive investment, typical for venture capital funds taking positions in public companies they previously invested in or see long-term value in.
• Comparable to other venture capital or private equity firms maintaining substantial, non-controlling stakes in their portfolio companies post-IPO or through public market purchases.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, potentially signaling long-term confidence from a specialized investor.
• Management: Reassures management that the significant stake is passive and not intended for control changes.

Next Steps

• The reporting persons will continue to monitor their investment in SmartRent, Inc.
• Future Schedule 13G/A amendments will be filed if there are material changes to their beneficial ownership or investment intent.

Key Dates

Keywords

SmartRent Inc., RET Ventures, Schedule 13G, Beneficial Ownership, Class A Common Stock, Institutional Investor, SEC Filing, Passive Investment, John Helm, Christopher Yip