Fifth Wall Raises $500M Fund to Invest in Proptech

Los Angeles-based Fifth Wall Ventures has raised $503 million to invest in technology companies targeting the real estate sector, the company announced Wednesday.

The fund is the second for the proptech-focused venture capital firm, which has financed companies like Redfin-rival OpenDoor, flex-space firm Industrious, and data company VTS. The new round brought in more than double the firm’s first raise of $212 million in 2017, and attracted both domestic and global capital.