Fifth Wall wraps up $500m for debut climate fund

The fund will target software, hardware, renewable energy, energy storage, smart buildings and carbon sequestration technologies to decarbonize the real estate industry.

  • The fund’s LPs include The Durst Organization, Equity Residential, Hilton, Hudson Pacific Properties, Ivanhoé Cambridge, Kimco Realty Corporation and MGM Resorts
  • The fundraising brings Fifth Wall’s capital under management to approximately $3.2 billion
  • Founded in 2016, Fifth Wall is focused on technology for the global real estate industry

Los Angeles-based venture capital firm Fifth Wall has closed $500 million for its inaugural climate fund. The fund will target software, hardware, renewable energy, energy storage, smart buildings and carbon sequestration technologies to decarbonize the real estate industry.

The fund’s limited partners include American Homes 4 Rent, BBVA, British Land, Camden Property Trust, CBRE, Cosan, The Durst Organization, Equity Residential, Hilton, Host Hotels & Resorts, Hudson Pacific Properties, Invitation Homes, Ivanhoé Cambridge, Kimco Realty Corporation, Lineage Ventures, MGM Resorts, NZ Super Fund, Osgoode Properties, and UDR.

The fundraising brings Fifth Wall’s capital under management to approximately $3.2 billion.

“Although the real estate industry has historically been among the largest contributors to global greenhouse gases, most real estate organizations have underinvested into the critical climate tech necessary to decarbonize,” said Brendan Wallace, co-founder and managing partner Fifth Wall, in a statement. “The strategic LPs in our climate fund have instead taken a true leadership role among the industry by making real financial commitments to address real estate’s contributions to climate change.”

Thus far, the climate fund has already completed strategic investments in several promising technology companies, including Assembly OSM, Brimstone, Clarity AI, Electric Hydrogen, ICON, Sealed, SPAN, Turntide Technologies and Wildcat Discovery Technologies.

Founded in 2016, Fifth Wall is focused on technology for the global real estate industry. The venture firm has approximately $3.2 billion in commitments and capital under management.