Fifth Wall launches $400M RE tech fund

VC firm's second vehicle has already picked up $100M from 19 investors.

UPDATED: Thursday, June 21 at 7:06 p.m. Fifth Wall Ventures, the venture capital firm that has invested in Industrious and Open Door, is on track to raise another $400 million for its second real estate technology fund.

The Los Angeles-based firm has already pooled $100 million from 19 unnamed investors, according to documents filed Thursday with the Securities and Exchange Commission. A source with knowledge of the fund said the initial capital was raised in one month.

A spokesperson for Fifth Wall declined to comment about the new fund.