Fifth Wall Ventures Raising $400M For Second Real Estate Tech Fund

Venture capital firm Fifth Wall Ventures is gearing up to raise $400M for its second real estate tech fund.

The Los Angeles-based company that invests in technology for the built environment already has received more than $100M in capital commitments for the fund from a string of unnamed investors, according to Securities and Exchange Commission filings, as reported by The Real Deal. The $100M was raised in just one month, a source told TRD.

Fifth Wall has injected millions into both commercial and residential PropTech startups, including San Francisco-based house-flipping company Opendoor, which recently raised $325M in funding, bringing its valuation to more than $2B; and Industrious, a Brooklyn-based flex space and coworking startup that is making big moves in the office and mixed-use space.

Fifth Wall’s recent fundraising efforts come amid a surge in institutional investors looking to bet on the PropTech market. Several venture capitalists, real estate tech accelerators and major brokerages have launched or closed funds of their own in hopes of funding the next industry unicorn — such as disrupters WeWork and Airbnb.

JLL’s PropTech division, JLL Spark, launched its first global venture fund this month. The $100M fund will invest specifically in tech startups that aim to make real estate development, management, leasing and investing more efficient for real estate professionals, particularly JLL clients. MetaProp NYC closed its second real estate tech venture capital fund this month at $40M, with plans to target early stage tech startups that are moving toward their pre-seed, seed or Series A funding rounds.

SEC filings reveal Fifth Wall is also raising funds for a $200M retail tech fund, called Fifth Wall Ventures Retail Fund. As of late May the VC had raised $60M for the retail fund.

Last year the firm pooled $212M for its first PropTech fund from several industry bigwigs, including homebuilding giants Lennar and Prologis, CBRE, Equity Residential and Macerich Properties, according to TRD.

Continue reading this story with a free account

Log in or register
Related Topics: Fifth Wall Street
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Blue Owl Reportedly Planning Data Center REIT

HUD Wants To Make It Easier To Bring Private Capital Into Public Housing

Private REIT Closes $650M Refinancing Of 549-Property Daycare Portfolio

Buc-ee's Convenience Store Star Fades As Visits Slip

Walker & Dunlop On Why The Housing Market Is More Balanced Than It Appears

Retailers Charging Ahead With EV Stations Despite Policy Pullback

U.S. Office Sales Show 31% Year-Over-Year Growth

Data Center Demand Doubles, Fueling New AI Boomtowns

Hall Of Fame Running Back Emmitt Smith Sued Over Failed Texas Solar Project

Becknell Taps JLL IPT Veteran To Boost REIT's Selling Group

American Healthcare REIT On A $1.5B Senior Housing Buying Spree

Joss Realty CEO, Executives Join Another Company's Real Estate Division