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Alternative Assets  + Real Estate  |  January 16, 2025
Fifth Wall Announces New PropTech Flagship Fund Launch
Joe Palmisano
By: Joe Palmisano

Fifth Wall Announces New PropTech Flagship Fund Launch

Fifth Wall concluded 2024 by launching its new Flagship Fund, securing commitments from new limited partners such as Lowe’s, Public Storage, Ryman Hospitality Properties, Federal Realty Investment Trust, Kite Realty Group, TITAN Group, Independence Realty Trust, Riyadh Valley Co., Sidara, among others, alongside several prominent institutional investors.

In December 2024, ServiceTitan, one of Fifth Wall’s most significant investments, went public with a market valuation of $9 billion, marking the firm’s seventh IPO from its portfolio. On January 14, it was revealed that CBRE, a longstanding investor in Fifth Wall, has acquired one of Fifth Wall’s inaugural portfolio firms, Industrious.

“I’m seeing a decisive positive momentum shift for PropTech, punctuated by two significant Fifth Wall exits in the ServiceTitan IPO and the CBRE-Industrious acquisition, which inspired me to launch our next Flagship Fund,” said Brendan Wallace, CEO and CIO, Fifth Wall.

Fifth Wall kicked off its newest Flagship Fund, bringing in Limited Partner commitments from new and existing investors. The new strategic investors are joining the firm’s more than 110 existing strategic investors which include CBRE, Hilton, MGM, Equity Residential, Related, Starwood Capital, British Land, Lennar, Marriott, Digital Realty, Lineage, and Hines, amongst others.

Founded in Los Angeles and headquartered in NYC, Fifth Wall is the largest and most active investor in proptech, with approximately $3 billion in commitments and capital under management.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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