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.”
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.
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