Fifth Wall Ventures pulls in $64m for retail fund

RE tech-focused Fifth Wall Ventures has raised more than $64m for a new retail fund.

The US-based investor has secured capital commitments from at least seven LPs so far, according to a filing with the SEC. Fifth Wall is aiming to raise up to $200m for the fund, however it is unclear from the document if the amount listed is target or hard cap.

Earlier this year Fifth Wall pulled in over $100m for its second flagship fund targeting up to $400m. The firm returned to fundraising just over a year after closing its debut investment vehicle on $212m.

The debut fund secured commitments from CBRE, Equity Residential, Lennar, Macerich, Hines, Prologis, Host Hotels & Resorts, Lowe’s Home Improvement and Rudin Management company according to a blog post by the founders.

Fifth Wall manages $265m of assets through offices in Los Angles and San Francisco.

The firm was founded by Brendan Wallace and Brad Greiwe, who collectively gained professional experience in traditional real estate at Blackstone, Goldman Sachs, Tishman Speyer, Starwood Capital, and UBS.

The firm has made three investments into the FinTech sector this year, having most recently invested $4.25m to support real estate portfolio management company Enertiv.

Its other deals in the space this year include a lead investment into digital real estate buying and selling support application Opendoor, and home insurance company Hippo.

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