When Los Angeles-based fund Fifth Wall launched in May this year with a $212m (£165m) raise, Brendan Wallace and Brad Greiwe became two of the most talked about players in real estate tech investment.
The former Blackstone associates raised over half of the fund through backing from property heavyweights including CBRE, Hines and Prologis – all part of an overarching strategy to get the end-user on board from the outset. The rest of the investment came from financial institutions.
The first pure proptech fund of its size, Fifth Wall has already invested more than $60m in real estate tech, including VTS, and has plans to raise another, larger fund.
Three months on from their public launch, Wallace and Greiwe spoke to EG about how their investment platform works by backing the technology the property sector wants and needs, where they are looking to invest next and why they think London is the most exciting tech market in Europe.
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