Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to firstname.lastname@example.org.
Fifth Wall—the Marina del Rey-based venture capital firm focused on real estate technology, also known as proptech—unveiled its first fund dedicated to the European market on Wednesday.
The venture firm said it had raised €140 million, or more than $159 million, for the oversubscribed fund, which will invest in proptech companies based in Europe and Israel. Fifth Wall noted that the investment vehicle, which will target Series A to Series C funding rounds, has already cut checks to startups including Madrid-based real estate platform Clikalia and Berlin-based grocery delivery company Gorillas.
The European fund is co-led by Fifth Wall partners Roelof Opperman and Miguel Nigorra, both of whom are based in London. The fund’s limited partners include institutional real estate investors like Ivanhoé Cambridge, Aldar Properties and PGIM Real Estate. (Disclosure: Brendan Wallace, Fifth Wall’s co-founder and managing partner, is an investor in dot.LA.)With the new fund, Fifth Wall said it now manages approximately $3 billion in capital. Last year, the firm secured $1.1 billion across its funds, including $140 million for an early-stage fund focused on climate tech. The venture firm established itself as a certified B Corporation in 2020, signaling a commitment to social and environmental standards—though its LPs include Koch Industries and News Corp, two companies known for promoting climate-change denialism.
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