Fifth Wall
Fifth Wall is the largest venture capital firm focused on PropTech, managing approximately $3 billion from a network of ~116 strategic corporate real estate owner-operators across 20+ countries, and backing ~170 category-leading built-world technology companies.
- Company typePrivate
- Founded2016
- HeadquartersLos Angeles, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Fifth Wall does
Fifth Wall (legal entity Fifth Wall Ventures Management, LLC) is a venture capital and investment management firm founded in 2016 by Brendan Wallace (CEO/CIO) and Brad Greiwe (Chairman) and headquartered in New York, with regional offices in Beverly Hills/Los Angeles, San Francisco, and Austin. The firm is the largest investment platform focused on technology for the built environment (PropTech), managing approximately $3 billion in cumulative commitments and capital under management across its flagship PropTech fund, the REACT real estate/climate-tech fund, and other vehicles. Its investment platform is anchored by a strategic limited-partner network of ~115-116 of the world's largest real estate owner-operators across more than 20 countries (including CBRE, Hilton, Hines, Marriott, Public Storage, Related, Starwood, BNP Paribas Real Estate, British Land, BBVA, Aldar, City Developments Limited, Lennar, MetLife, MGM Resorts, Toll Brothers), and has backed approximately 170 category-leading PropTech portfolio companies including Opendoor, Procore, Blend, Hippo, Doma, Bilt Rewards, Industrious, and Juniper Square.
Fifth Wall's underlying technology and platform comprise: a regulated broker-dealer affiliate (Fifth Wall Securities, with associated Investor Portals), a Getro-powered portfolio company job board listing ~1,259 open roles, an editorial Insights platform (newsletters, videos, articles), and direct pitch/sourcing channels ([email protected]). The firm makes money primarily through recurring management fees on private placement fund commitments (industry-standard 1.5-2.0% of AUM), performance-based carried interest on realized exits, and increasingly through capital markets activity via Fifth Wall Securities. The customer base is dual-sided: institutional corporate LPs (real estate owner-operators) committing capital via multi-year fund subscriptions, and PropTech founders seeking capital, distribution, and corporate validation.
In 2025 the firm closed 30 investments and two exits, launched Fifth Wall Securities, and raised $123.25M for a new proptech fund. However, the REACT climate/real estate fund raised only ~$124M against a $500M target, and in January 2026 the firm reduced its workforce and suspended active fundraising, citing high interest rates and climate-policy shifts; the firm retains ~$600M in dry powder and plans to resume fundraising with a smaller fund target.
Fifth Wall firmographics
Firmographics- Name
- Fifth Wall
- Legal name
- Fifth Wall Ventures Management, LLC
- Website
- https://fifthwall.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Fifth Wall is the largest venture capital firm focused on PropTech, managing approximately $3 billion from a network of ~116 strategic corporate real estate owner-operators across 20+ countries, and backing ~170 category-leading built-world technology companies.
- Ownership category
- akta.pro rank
Fifth Wall industry classification
Industry- Product category
- PropTech Venture Capital / Real Estate Technology Investment Management
- NAICS
- Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (523940), Investment Banking and Securities Intermediation (523150)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
- akta.pro secondary industries
- Healthcare & Life Sciences Growth Equity (FSANACAB), Financial Services / Fintech Growth Equity (FSANACAE)
Keywords
Where Fifth Wall is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Fifth Wall business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Fund Management Fees: Recurring management fees charged as a percentage of assets under management across Fifth Wall's flagship PropTech fund, REACT climate/real estate fund, and other vehicles; the REACT fund targeted $500M and raised ~$124M last year. The firm holds ~$600M in dry powder for future deployment.
- Carried Interest (Performance Fees): Performance-based economics earned on exits and realized gains from fund investments; Fifth Wall reported 30 investments and two exits in 2025, with prior exits including Blend (NYSE: BLND), Hippo (NYSE: HIPO), Doma (NYSE: DOMA), and Blueprint Power (acquired by BP).
- Fifth Wall Securities Capital Markets Activity: Revenue generated by the affiliated broker-dealer Fifth Wall Securities, which extends the firm's capital markets reach beyond fund management, with an Investor Portal (portal.fifthwall.com) and SIP portal (sipportal.fifthwall.vc).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Private placement fund commitments for accredited/qualified investors |
Go-to-market motion4 records
Distribution channels3 records
Marketing channels9 records
Fifth Wall product offering
Product offeringCore offering
Fifth Wall is a venture capital and investment management firm that raises private placement fund commitments from a strategic Limited Partner network of ~115-116 of the world's largest real estate owner-operators and deploys that capital into early- and growth-stage PropTech and climate-tech startups (~170 portfolio companies to date). The firm also operates an affiliated broker-dealer, Fifth Wall Securities, and maintains a password-protected Investor Portal to support LP onboarding, capital calls, and capital markets activity.
Product overview
Fifth Wall is not a traditional software vendor; it is the largest investment firm focused on technology for the built environment. Its core offering is Fifth Wall Ventures Management, LLC — a venture capital and strategic-LP platform that backs category-defining PropTech companies (such as Opendoor, Procore, Blend, Hippo, and Bilt Rewards) and convenes over 110 strategic limited partners representing some of the world's largest real estate owner-operators across more than 20 countries. The offering is best characterized as a platform-plus-modules architecture: the core Fifth Wall investment platform is complemented by a separately branded securities affiliate (Fifth Wall Securities), an investor-only Investor Portal for fund LPs, an editorial Insights platform (newsletters, videos, and articles highlighting portfolio companies such as Breezy, Bilt Rewards, Runwise, SPAN, Mojave, and Merlin Solar), and the publicly surfaced Fifth Wall Portfolio of approximately 170 PropTech startups. Operating capacity is anchored by roughly $3B in commitments and capital under management, with office locations including a New York headquarters and a Los Angeles office in Beverly Hills.
Differentiator
Problem solved
Functional benefit
Brands
- Fifth Wall Securities: Securities platform associated with Fifth Wall, promoted on the website's top navigation as a separate web property at fifthwallsecurities.com and announced via a Fifth Wall press release.
Products and services
- Fifth Wall Ventures Management, LLC (Flagship PropTech Fund) Private placement venture capital fund that invests in early- to growth-stage PropTech and climate-tech startups on behalf of a strategic Limited Partner network of large real estate owner-operators across more than 20 countries. Targets category-leading companies at the intersection of real estate, technology, and energy.
- Fifth Wall Securities Affiliated broker-dealer that extends Fifth Wall's capital markets capabilities beyond pure fund management, with a dedicated Investor Portal (portal.fifthwall.com) and SIP portal (sipportal.fifthwall.vc) supporting current and prospective fund investors.
- Fifth Wall REACT Fund Dedicated climate-tech and real estate decarbonization investment vehicle targeting $500M in commitments; raised ~$124M in 2025 against that target. Focused on funding decarbonization technologies across the built environment.
- Fifth Wall PropTech Investment Fund (2025 vintage) Follow-on PropTech investment fund vehicle that closed $123.25M in December 2025 to support strategic property-technology investments.
- Investor Portal Password-protected area of the Fifth Wall website accessible to current investors of Fifth Wall-managed investment vehicles and to prospective investors eligible to receive a Private Placement Memorandum.
Quantifiable outcome
- ~$3B in commitments and capital under management
- +4 more outcomes
Companies that use Fifth Wall
Customer profileSegments4 records
Ideal customer profiles3 records
Fifth Wall technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Fifth Wall partnerships and signals
Strategic signalScale indicators13 records
Recent moves6 records
Expansion highlights5 records
Fifth Wall competitors and assessment
Company assessmentDirect peers
- Real Estate Tech Ventures (RETV / Second Century Ventures): Second Century Ventures is the strategic investment arm of the National Association of REALTORS, running a global PropTech accelerator and fund. It is a direct peer in the LP-anchored PropTech venture model and competes for early-stage real estate technology deals.
- Brick & Mortar Ventures: Brick & Mortar Ventures is a venture firm focused on construction tech and the built environment, overlapping with Fifth Wall's enterprise-software and construction portfolio (e.g., Built Technologies, Document Crunch). It is a direct competitor in construction and built-world technology.
- JLL Spark: JLL Spark is the corporate venture arm of JLL focused on real estate technology investments, providing PropTech founders with built-world distribution through JLL's global real estate services platform. It competes directly with Fifth Wall for PropTech deal flow and LP-style partnerships.
- MetaProp: MetaProp is one of the longest-running dedicated PropTech venture firms, investing across real estate technology with a strong NYC presence. It is the most directly comparable US-based PropTech VC to Fifth Wall, competing for the same founder pool and LP relationships.
- Moderne Ventures: Moderne Ventures is a PropTech and insurance-tech focused venture firm that runs a Passport Program of strategic LPs (real estate and insurance corporates) similar in structure to Fifth Wall's network. It competes for the same strategic-LP-anchored PropTech mandate.
- RET Ventures: RET Ventures is an LP-backed PropTech-focused venture fund whose strategic LP base of large real estate owners closely mirrors Fifth Wall's model. It is a direct competitor in the strategic-LP-anchored PropTech VC niche.
- Camber Creek: Camber Creek is a venture capital firm investing in technology for the real estate industry with backing from corporate real estate strategic partners, overlapping Fifth Wall's LP-anchored PropTech thesis and competing for similar deals.
Broad incumbents
- Bain Capital Ventures: Bain Capital Ventures is a multi-stage venture firm with an active PropTech and fintech practice (including Juniper Square, where Fifth Wall also invested). It competes for similar early- and growth-stage PropTech deals as a larger, more diversified incumbent.
- Ribbit Capital: Ribbit Capital is a fintech-focused venture firm that has increasingly invested in PropTech adjacencies (leading Breezy with Fifth Wall participating, leading Juniper Square Series D). It is an adjacent incumbent competing for the same real-estate fintech founders.
- Andreessen Horowitz (a16z): a16z is a broad technology venture incumbent with growing real-estate and PropTech activity and substantially more capital than Fifth Wall. It competes for PropTech founders seeking brand-name capital and scale, particularly at growth stage.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Fifth Wall social profiles
Digital presenceFifth Wall compliance and trust
Trust signalCompliance1 record
Fifth Wall financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fifth Wall leadership team
Management profileNumber of profiles
Profiles16 records
Fifth Wall subsidiaries and ownership
Company hierarchySubsidiaries1 record
Fifth Wall funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fifth Wall M&A and investment
M&A and investmentM&A
Investments226 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fifth Wall
What does Fifth Wall do?
Fifth Wall is a venture capital and investment management firm that raises private placement fund commitments from a strategic Limited Partner network of ~115-116 of the world's largest real estate owner-operators and deploys that capital into early- and growth-stage PropTech and climate-tech startups (~170 portfolio companies to date). The firm also operates an affiliated broker-dealer, Fifth Wall Securities, and maintains a password-protected Investor Portal to support LP onboarding, capital calls, and capital markets activity.
Is Fifth Wall a public or private company?
Fifth Wall is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Fifth Wall founded?
Fifth Wall was founded in 2016. It employs 51 to 100 people.
Where is Fifth Wall based?
Fifth Wall is headquartered in Los Angeles, United States, in the North America region.
How does Fifth Wall make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest (Performance Fees) and fifth Wall Securities Capital Markets Activity.
Who are Fifth Wall's main competitors?
Direct peers on record are Real Estate Tech Ventures (RETV / Second Century Ventures), Brick & Mortar Ventures, JLL Spark, MetaProp, Moderne Ventures, RET Ventures and Camber Creek. Broad incumbents are Bain Capital Ventures, Ribbit Capital and Andreessen Horowitz (a16z).
Does Fifth Wall have an API?
No public API is recorded for Fifth Wall.
What industry is Fifth Wall in?
Fifth Wall's product category is PropTech Venture Capital / Real Estate Technology Investment Management. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists), with a secondary code of FSANACAB, Healthcare & Life Sciences Growth Equity. Its NAICS code is 5239 and its SIC code is 6282.