CBRE has become an anchor investor in Fifth Wall Ventures – the first significant venture capital fund focused entirely on backing promising technologies for the built environment.
The fund closed with $212m (£164m) of capital commitments. CBRE is the only real estate services company invested in the fund.
Other Fifth Wall Ventures anchor investors include Equity Residential, Host Hotels, Hines, Lennar, Macerich and Prologis.
Chandra Dhandapani, CBRE’s chief digital and technology officer, said: “Our active engagement in Fifth Wall Ventures will provide early insight into companies and technologies that have the potential to enhance our ability to deliver great outcomes for our clients.
“This is one vehicle, among several, that CBRE will use to identify emerging technologies, connect with top talent, build strategic partnerships and make investments that will create competitive advantages.”
Brendan Wallace, co-founder of Fifth Ventures, said: “CBRE understands technology, talent and venture investing. It moved quickly to engage with another founding investor to lead the negotiations to help establish our venture fund.
“CBRE’s early sponsorship of VTS/Hightower and acquisition of Floored, a top-tier innovator, impressed our team. It is a perfect partner for our fund and for the companies that we invest in.”
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