
Fifth Wall Amasses $1.5B of New Proptech Funds
Fifth Wall on Monday announced the close of $1.5 billion of new funds in 2022, including the $866-million Real Estate Tech Fund III, €140-million European Fund and $500-million Climate Fund. Since 2016, Fifth Wall has raised the third-most capital of any venture firm globally ($2.9 billion), according to SEC Form D filings.
The Los Angeles-based firm is the largest and most active investor in proptech and recently began investing in climate tech to decarbonize the global real estate industry.
“Fifth Wall was fortunate to be one of the first venture funds to identify the secular collision between the two largest industries in the U.S., real estate and technology,” said co-founder Brendan Wallace. “Because of our consistent track record of investing in category-leading businesses at this intersection, we have been able to meaningfully participate in fiscal as well as strategic value that has been created in what we today call proptech.”