Country for PR: United States
Contributor: PR Newswire New York
Wednesday, July 17 2019 - 21:30
AsiaNet
Fifth Wall Closes New $503 Million Fund, the Largest Real Estate Venture Capital Fund Raised to Date
LOS ANGELES, July 17, 2019 /PRNewswire-AsiaNet/ --

  -- With over $1 billion assets under management and more than 50 corporate 
     strategic investors spanning 11 countries, Fifth Wall has assembled the 
     largest consortium of real estate owners to invest in cutting edge 
     startups and transform the global real estate industry

Today, Fifth Wall ( 
https://c212.net/c/link/?t=0&l=en&o=2525600-1&h=907883354&u=https%3A%2F%2Ffifthwall.vc%2F&a=Fifth+Wall 
), the largest venture capital firm focused on technologies for the global real 
estate industry (property technology or "proptech"), announced the close of its 
second real estate technology fund. The oversubscribed $503 million Fund II 
more than doubled the size of Fifth Wall's initial fund, which closed in May 
2017 at $212 million.

Photo - 
https://mma.prnewswire.com/media/947446/Brendan_Wallace_and_Brad_Greiwe.jpg

Fifth Wall raised $503 million for its Fund II from the largest and most 
influential owners, operators, and developers of real estate globally. These 
investors represent the most sought-after customers and partners for the 
entrepreneurs and startups into which Fifth Wall invests. By aggregating so 
many real estate owners into a single fund, Fifth Wall's unique investment 
model helps large real estate corporations access the most innovative new 
technologies that can transform their businesses.

Fifth Wall's first fund was raised from nine strategic real estate investors in 
the US only; Fund II attracted strong global investor interest from over 50 
corporate strategic investors from 11 countries, bringing the firm's total 
assets under management to over $1 billion. Some of the investors participating 
in Fund II include Gecina in France, MERLIN Properties in Spain, British Land 
and SEGRO in the UK, Kenedix and Mitsubishi Estate in Japan, Keppel Corporation 
in Singapore, and many in the United States, including CBRE, Cushman & 
Wakefield, D.R. Horton, Equity Residential, Essent, Hines, Host Hotels & 
Resorts, Hudson Pacific Properties, Lennar, Macerich, Marriott International, 
MetLife Investment Management, News Corp, PulteGroup, Starwood Capital, Related 
Companies, and Toll Brothers. 

"As the real estate and technology industries increasingly converge, Fifth Wall 
has become central to that convergence, fostering a level of strategic 
collaboration that has never before characterized the real estate industry," 
said Brendan Wallace, Co-Founder & Managing Partner at Fifth Wall. "Fifth Wall 
sees powerful network effects in our unique fund model as it becomes a 
centralized platform for the world's largest real estate companies to share 
insights and access new technologies to enhance their businesses. For our 
entrepreneurs, Fifth Wall efficiently opens distribution channels for their 
products to more than 50 corporate strategic investors globally and we have 
dedicated a team to support the success of those partnerships and integrations."

"We're committed to identifying and partnering with organizations that can help 
us develop the next generation of technology solutions for our clients, our 
colleagues, and the built environment," said Brett White, Executive Chairman & 
Chief Executive Officer, Cushman & Wakefield ( 
https://c212.net/c/link/?t=0&l=en&o=2525600-1&h=116058412&u=http%3A%2F%2Fwww.cushmanwakefield.com%2F&a=Cushman+%26+Wakefield 
). "We believe we've found a great partner and advisor in Fifth Wall, and 
together, we can help put Cushman & Wakefield's clients at the center of some 
of the most innovative technology solutions in our industry." 

Fifth Wall's Fund II is now the largest active venture capital fund in the Los 
Angeles area and the firm has grown from eight employees at the time of its 
initial fund close in May 2017 to more than 30 employees today. 

"Los Angeles is an economic capital — a place where businesses put down roots 
and quickly become very successful," said Mayor Eric Garcetti. "Companies like 
Fifth Wall have powered our economy to new heights, and their successful launch 
of a new fund is the latest reminder that businesses in Los Angeles don't just 
mark history — they make history." 

Fifth Wall has built a nine-person strategic consulting team dedicated to 
helping its real estate investors address the strategic and operational 
challenges of new technology adoption and to help structure partnerships, 
integrations, contracts, and distribution deals. The team works closely with 
its corporate strategic investors to support Fifth Wall's investments in 
companies like Opendoor, Lime, Hippo, VTS, and Industrious.

"We're constantly looking for new real estate services and technologies to 
improve the way we develop and manage our residential and commercial properties 
in France," said Méka Brunel, Chief Executive Officer, Gecina ( 
https://c212.net/c/link/?t=0&l=en&o=2525600-1&h=937521602&u=https%3A%2F%2Fwww.gecina.fr%2Fen&a=Gecina 
). "We partnered with Fifth Wall to help us anticipate what's ahead, and 
connect us with ideal partners and technologies so we can deliver the best 
solutions for our customers."

About Fifth Wall 
Fifth Wall is the largest venture capital firm focused on technologies for the 
global real estate industry (property technology or "proptech"). With $1 
billion capital under management across three funds, Fifth Wall connects the 
world's largest owners and operators of real estate with the technology 
entrepreneurs who are redefining the future of the physical environment. Fifth 
Wall is backed by a global mix of strategic limited partners (LPs), including 
British Land, CBRE, Cushman & Wakefield, D.R. Horton, Equity Residential, 
Gecina, GLP, Hines, Host Hotels & Resorts, Hudson Pacific Properties, Lennar, 
Lowe's Home Improvement, Macerich, Marriott International, MERLIN Properties, 
MetLife Investment Management, Mitsubishi Estate, News Corp, Prologis, 
PulteGroup, SEGRO, Starwood Capital, Related Companies, Toll Brothers, and 
others. These LPs represent the largest potential customers and partners for 
the global Built World ecosystem, resulting in game-changing investments and 
partnerships in the most promising portfolio companies in retail, residential 
and multi-family, commercial, industrial, hospitality, and more. For more 
information on Fifth Wall, its partners, and portfolio, visit www.fifthwall.vc. 

Photo  - https://mma.prnewswire.com/media/947445/FifthWall_Logo.jpg 

Source - Fifth Wall

CONTACT: Julie Lydon, Fifth Wall, media@fifthwall.com, (415) 816-9397