At the side of the brand new fund, which is backed by new restricted companions corresponding to Lowe’s, Public Storage, Kite Realty Group and Independence Realty Belief, Fifth Wall’s largest proptech funding went public in December with a $9 billion market capitalization.
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Enterprise capital firm Fifth Wall, identified for its work in supporting improvements to enhance the true property business, has launched its new Flagship Fund, which, in accordance with CEO and Chief Funding Officer Brendan Wallace, is poised to do “… what its last one did.”
“Fifth Wall’s last Flagship Fund was our firm’s most successful and was perfectly timed to lead investments in many successful PropTech companies like Aurora Solar, Procore, ServiceTitan and Lessen,” Wallace mentioned in Jan. 16 press launch.
At the side of the brand new fund, which is backed by new restricted companions corresponding to Lowe’s, Public Storage, Kite Realty Group and Independence Realty Belief, Fifth Wall’s largest proptech funding went public in December with a $9 billion market capitalization. Software program firm ServiceTitan is Fifth Wall’s seventh portfolio firm to subject an IPO.
ServiceTitan offers workflow options for a variety of economic and residential commerce verticals, starting from plumbing firms to chimney sweeps.
Its enterprise software program choices join service suppliers with shoppers and vendor back-office operations, permitting for the flattening of scheduling, supplies provide, bookkeeping, advertising, name logging and different business-critical wants.
Leonidas Canellopoulos is chief sustainability and innovation officer of TITAN Group, ServiceTitan’s mum or dad. He mentioned within the launch the Fifth Wall affiliation presents contemporary views towards a extra carbon-neutral actual property business.
“By partnering with Fifth Wall, a true leader in real estate technology, we’re not only enhancing our operational efficiencies but also reaffirming our long-term commitment to decarbonization, sustainability, and resilience within the built environment,” Canellopoulos.
One other notable Fifth Wall beneficiary, flex-space supplier Industrious, was acquired by industrial actual property firm CBRE on Jan. 14.
“Founded in 2013, New York-based Industrious raised a total of $522 million in funding from investors, including Riverwood Capital and Fifth Wall Ventures. Its last known public valuation was $571.4 million in February of 2021 when it announced a $200 million raise, according to PitchBook. It had 583 employees as of February 2023,” TechCrunch reported.
Fifth Wall’s Wallace mentioned that his firm’s newest milestones signify a “thawing of the market for proptech investment, [where] green shoots are appearing.”
“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,” he mentioned.
Internally, Fifth Wall began 2025 by augmenting senior administration, in accordance with the discharge, naming Jeremy Fox and Magnus Vik as co-presidents. Brad Greiwe was transitioned to Chairman, Fifth Wall mentioned.
