Fifth Wall secures €140m for European proptech fund

Fifth Wall has closed an oversubscribed €140 million ($158 million) for its European Real Estate Technology Fund. The fund attracted capital from some of the largest owners and developers of real estate.

The vehicle will target investments in high-potential European startups and will also potentially provide co-investment opportunities alongside the firm’s core North American Real Estate Tech funds. The fund has already invested in startups, such as Spanish Ibuyer platform Clikalia and on-demand grocery delivery company Gorillas.

“We are thrilled to expand our firm into Europe as we aim to replicate Fifth Wall’s position as the leading proptech investor in North America …” said Brendan Wallace, co-founder and managing partner at Fifth Wall. “The success of Fifth Wall’s model is premised on identifying the leading proptech companies and accelerating their growth through Fifth Wall’s global network of more than 90 strategic investors.”

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