Real property enterprise agency Fifth Wall is elevating a brand new $500 million fund referred to as Fifth Wall React, in line with a regulatory submitting.
The eight-year-old agency, helmed by its co-founder and CEO Brendan Wallace (pictured), is already managing $3.2 billion in capital, together with elevating an $866 million fund in late 2022 that was the most important enterprise fund targeted on actual property tech startups. Fifth Wall additionally closed a $500 million fund earlier in 2022 to spend money on actual property local weather tech that goals to decarbonize the property trade.
The new fund is critical as a result of proptech was challenged after rising rates of interest in 2022. However, the U.S. Federal Reserve’s latest determination to decrease charges has led many buyers to anticipate a rebound.
Fifth Wall’s most outstanding exits embrace the house vendor Opendoor, property insurance coverage Hippo Insurance, and good house tech SmartRent. Fifth Wall didn’t reply to TechCrunch’s request for remark.
