Consortium assembled for 500m proptech investment fund web

Consortium assembled for $500m proptech investment fund

Venture capital firm Fifth Wall has assembled a consortium of 50 international property firms including Gecina, Merlin Properties, British Land, SEGRO, Mitsubishi Estate, Keppel Corporation, CBRE, Cushman & Wakefield, Hines, and Starwood Capital to create a $500bn fund to back emerging proptech businesses. Brendan Wallace, co-founder and managing partner at Fifth Wall, said: “As the real estate and technology industries increasingly converge, Fifth Wall has become central to that convergence, fostering a level of strategic collaboration that has never before characterized the real estate industry. Fifth Wall sees powerful network effects in our unique fund model as it becomes a centralised platform for the world’s largest real estate companies to share insights and access new technologies to enhance their businesses.”

To continue reading please log in or register

Need to reset your password? Click here