Fifth Wall Ventures, a venture-capital agency, plans to lift a powerful $500 million for a brand new fund, the Fifth Wall REACT Fund, in line with a brand new regulatory submitting on Wednesday.
Whether or not it’s refining your enterprise mannequin, mastering new applied sciences, or discovering methods to capitalize on the subsequent market surge, Inman Join New York will put together you to take daring steps ahead. The Subsequent Chapter is about to start. Be a part of it. Be a part of us and hundreds of actual property leaders Jan. 22-24, 2025.
Fifth Wall Ventures, a venture-capital agency, plans to lift a powerful $500 million for a brand new fund, the Fifth Wall REACT Fund, in line with a regulatory submitting on Wednesday.
TAKE THE INMAN INTEL INDEX SURVEY FOR DECEMBER
Fifth Wall, often known as “the largest venture capital firm focused on technology for the global real estate industry,” oversees $3.2 billion in capital, together with an $866 million fund raised in 2022 — the biggest enterprise fund devoted to actual property tech startups, TechCrunch reported.
Earlier that 12 months, the agency, beneath the management of CEO Brendan Wallace, closed on a $500 million local weather fund geared toward decarbonizing the property trade. The agency believes that decarbonizing actual property “is one of the most important ethical imperatives and economic opportunities of our lifetime,” in line with the corporate’s web site.
Shortly after its founding in 2016, the agency raised $212 million from main trade gamers to help startups that supply merchandise to assist traders develop their companies.
The brand new Fifth Wall React fund comes because the proptech trade navigates challenges stemming from rising rates of interest in 2022. This 12 months, the Federal Reserve raised charges to their highest ranges in over twenty years, though latest reductions have sparked renewed investor optimism.
In a 2023 interview with Inman, Wallace emphasised the rising significance of proptech, noting the concept operators and builders might overlook technological developments is now not tenable.
Fifth Wall’s notable exits embrace corporations resembling the house vendor Opendoor, property insurance coverage Hippo Insurance coverage and good residence tech SmartRent, TechCrunch reported.
E-mail Richelle Hammiel
