Fifth Wall Ventures, an investor in Clutter, b8ta, ClassPass, Lime and others, has raised $503 million for its sophomore venture capital fund.
The firm, which closed on $212 million for its debut fund in May 2017, prefers to invest in the burgeoning real estate industry but has made opportunistic investments in other sectors.
The Los Angeles firm counts real estate owners as limited partners, as well as a number of global partners including U.S.-based Cushman & Wakefield, Japan’s Mitsubishi Estate, and the U.K.s’ British Land and SEGRO.
“Fifth Wall sees powerful network effects in our unique fund model as it becomes a centralized platform for the world’s largest real estate companies to share insights and access new technologies to enhance their businesses,” Fifth Wall managing partner Brendan Wallace said. “For our entrepreneurs, Fifth Wall efficiently opens distribution channels for their products to more than 50 corporate strategic investors globally and we have dedicated a team to support the success of those partnerships and integrations.”
Source: TechCrunch
