July 18, 2019
Venture capital firm Fifth Wall has closed its second real estate technology fund. The oversubscribed $503-million Fund II more than doubled the size of Fifth Wall’s $212-million initial fund, which closed in May 2017.
The initial fund had just nine investors, all domestic. Fund II drew from more than 50 investors in 11 countries.
“As the real estate and technology industries increasingly converge, Fifth Wall has become central to that convergence,” said Brendan Wallace, co-founder & managing partner at Fifth Wall.
In related news, Cushman & Wakefield selected Fifth Wall as a technology partner. The Chicago-based services firm, a Fund II investor, also recently entered a technology relationship with Saltmine.
“We believe we’ve found a great partner and advisor in Fifth Wall, and together, we can help put Cushman & Wakefield’s clients at the center of some of the most innovative technology solutions in our industry,” said CEO Brett White.
Pictured, above: Fifth Wall co-founders Brendan Wallace and Brad Greiwe. At right: Cushman & Wakefield’s Brett White.
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