Real estate venture firm Fifth Wall is raising a new $500 million fund called Fifth Wall React, according to a regulatory filing.
The eight-year-old firm, helmed by its co-founder and CEO Brendan Wallace (pictured), is already managing $3.2 billion in capital, including raising an $866 million fund in late 2022 that was the largest venture fund focused on real estate tech startups. Fifth Wall also closed a $500 million fund earlier in 2022 to invest in real estate climate tech that aims to decarbonize the property industry.
The new fund is significant because proptech was challenged after rising interest rates in 2022. However, the U.S. Federal Reserve’s recent decision to lower rates has led many investors to anticipate a rebound.
Fifth Wall’s most prominent exits include the home seller Opendoor, property insurance Hippo Insurance, and smart home tech SmartRent. Fifth Wall did not respond to TechCrunch’s request for comment.
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2024-12-19 20:13:51
