Actual property enterprise capital agency Fifth Wall is elevating a brand new $500 million fund known as Fifth Wall React, in line with a regulatory filing.
The eight-year-old firm, led by co-founder and CEO Brendan Wallace (pictured), already manages $3.2 billion in capital, together with elevating a $866 million As of late 2022, it was the biggest enterprise capital fund targeted on actual property expertise startups. The Fifth Wall additionally closed a $500 million fund earlier in 2022 to put money into local weather actual property expertise that goals to decarbonize the true property sector.
The brand new fund is necessary as a result of proptech has been known as into query after rates of interest rose in 2022. Nevertheless, the latest resolution by the US Federal Reserve to chop charges has led many buyers to anticipate a rebound.
Fifth Wall’s largest exits embody residence vendor OpenDoor, property insurance coverage Hippo Insurance coverage and sensible residence expertise SmartRent. Fifth Wall didn’t reply to TechCrunch’s request for remark.
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