Fifth Wall, a venture capital firm focused on technologies for the global real estate industry, has closed the European Real Estate Technology Fund (European Fund) at EUR 140 million.
Like prior Fifth Wall funds, the European Fund attracted the largest owners and developers of real estate, including Aldar Properties, Azora Capital, BNP Paribas Real Estate, Conren Tramway, DAMAC Group, Gestilar, Inmobiliaria Colonial, Ivanhoé Cambridge, Knight Frank, MERLIN Properties, MOMENI Group, NEINVER, affiliates of Northwood Investors, Pecunia, PGIM Real Estate, Pontos Group, Redevco, SEGRO, and Tramway Capital.
The European Fund aims to accelerate European proptech innovation adoption, replicating the success of Fifth Wall’s previous core North American Real Estate Tech funds. This brings Fifth Wall’s capital under management to approximately USD3.0 billion.
The European Fund will target investments in high-potential European startups and will also potentially provide co-investing opportunities alongside the firm’s core North American Real Estate Tech funds. Investments out of this fund will range from Series A to Series C rounds. The fund has already completed investments into fast-growing startups, including Clikalia, the leading Spanish Ibuyer platform and Gorillas, an on-demand grocery delivery company.