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Home News

Fifth Wall Brings Together Competitors For Proptech Investments

Aayat AlibyAayat Ali
July 17, 2019
in News
Reading Time: 1 min read
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[bctt tweet=”Los Angeles-based venture capital firm Fifth Wall has announced it closed a $503 million fund by bringing together mall owners, hotel companies, and office developers to invest into property technology startups. ” username=”allwork_space”]

Brokerage companies CBRE and Cushman & Wakefield both invested, as well as four major U.S. home builders. Fifth Wall has also invested into coworking firms Convene and Industrious.

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“Increasingly, real estate owners have recognized it’s very hard to do venture on your own,” said Brendan Wallace, Fifth Wall’s co-founder. “It’s better to get the right solution than it is to get a solution your peers don’t have.”

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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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