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Fifth Wall Asset Management
Fifth Wall is a venture capital firm founded by Brendan Wallace and Brad Greiwe in 2016, investing in PropTech and climate technology with over $3B raised.
Fifth Wall Asset Management
Fifth Wall was founded in 2016 by Brendan Wallace and Brad Greiwe, two former Goldman Sachs bankers who identified a gap in venture capital: the real estate industry, representing roughly 13% of global GDP, had little dedicated innovation funding. The firm operates as a sector-focused venture capital firm with a strong family-office-like LP base, including strategic investors such as CBRE, Hines, and Lennar. The firm invests across venture stages, from Series A to growth equity, with a focus on PropTech, climate technology, and real estate-adjacent enterprise software. Its portfolio includes companies like Opendoor, Curbio, and Latch. Fifth Wall has raised multiple themed funds, including a dedicated climate technology fund, and co-invests alongside its strategic LPs in direct deals. Geographically, the firm focuses on North America with some exposure to Europe. Fifth Wall's team has grown to over 80 professionals across offices in Los Angeles, New York, and San Francisco. In 2023, the firm closed its third climate technology fund at $500 million (per public record). It operates an affiliated platform, Fifth Wall Management, which provides secondary market solutions for real estate technology companies. A structural differentiator is Fifth Wall's explicit design as a venture firm that sources deal flow from its strategic LP consortium — over 80 real estate owners and operators who serve as both investors and distribution channels. This model gives portfolio companies direct access to the built environment's largest incumbents, creating an unusual alignment of incentives between venture capital and operating real estate businesses.
General information
Firm type
Multi Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Principals
Brendan Wallace
Co-Founder & Managing Partner
Brad Greiwe
Co-Founder & Managing Partner
Andre Fernandez
Managing Partner & Head of Capital Markets
Sector focus
Frequently asked questions
Who runs investment decisions at Fifth Wall?
Brendan Wallace and Brad Greiwe serve as Co-Founders and Managing Partners, leading the firm's investment committee. Andre Fernandez heads capital markets and fund strategy. The firm also relies on its strategic LP consortium for deal sourcing and validation.
How does Fifth Wall source proprietary deal flow?
Fifth Wall sources most deals through its consortium of over 80 strategic LPs — large real estate owners, operators, and developers — who provide direct access to industry pain points and pilot opportunities. This network creates a pipeline that is distinct from traditional venture capital sourcing.
Is Fifth Wall structured as a single family office or does it operate more like a venture firm?
Fifth Wall is legally a registered investment adviser and operates as a venture capital firm, not a family office. However, its LP base is dominated by a small number of large strategic family-controlled real estate entities, giving it family-office-like concentration and alignment.
What investment stages does Fifth Wall typically target?
Fifth Wall invests across venture stages, from Series A to growth equity, with a particular focus on companies that have a clear path to deploying technology into the built environment. It also runs dedicated climate technology and PropTech funds with different stage focuses.
Which sectors does Fifth Wall explicitly avoid?
Fifth Wall avoids sectors unrelated to real estate, such as healthcare, biotech, and traditional SaaS that lacks a clear connection to the built environment. Its mandate is narrow by design to align with its LP base.
Does Fifth Wall maintain philanthropic structures, and how are they separated?
Fifth Wall does not publicly disclose a separate philanthropic foundation. Its climate technology fund, however, has a sustainability mandate that blends return-seeking investment with environmental impact objectives.
What is Fifth Wall's known posture on co-investments alongside external GPs?
Fifth Wall typically leads or co-leads rounds and invests directly, but it also co-invests alongside its strategic LPs in syndicated deals. It is not a fund-of-funds and does not commit to external GP funds.
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