SEGRO invests in world’s largest real estate venture capital fund “Fifth Wall”
SEGRO is one of the first European real estate companies to invest in Fifth Wall, the world’s largest venture capital firm focused on technology solutions for the global real estate industry.
Fifth Wall’s oversubscribed Fund II has closed today at $503 Million, more than double the size of Fifth Wall’s initial fund, which closed in May 2017 at $212 million.
With more than 50 corporate strategic investors spanning 11 countries Fifth Wall has assembled the largest consortium of real estate owners to invest in cutting edge start-ups and transform the global real estate industry. These investors represent the most sought-after customers and partners for the entrepreneurs and start-ups into which Fifth Wall invests. By aggregating so many real estate owners into a single fund, Fifth Wall’s unique investment model helps large real estate corporations access the most innovative new technologies that can transform their businesses.
James Power, Director of Digital and Technology at SEGRO said:
“There’s no doubt that technology will have a huge impact on the property sector in the years to come, from the way we interact with our customers to how we invest in, build and manage our assets. The success of Fifth Wall shows the industry’s determination to ensure we’re fit for the future and we look forward to working with the next generation of entrepreneurs who are going to transform the built environment, particularly in the industrial space.”
Brendan Wallace, Co-Founder & Managing Partner at Fifth Wall said:
“As the real estate and technology industries increasingly converge, Fifth Wall has become central to that convergence, fostering a level of strategic collaboration that has never before characterized the real estate industry. Fifth Wall sees powerful network effects in our unique fund model as it becomes a centralized platform for the world’s largest real estate companies to share insights and access new technologies to enhance their businesses. For our entrepreneurs, Fifth Wall efficiently opens distribution channels for their products to more than 50 corporate strategic investors globally and we have dedicated a team to support the success of those partnerships and integrations.”
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 7 million square metres of space (75 million square feet) valued at £11 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in eight other European countries.
See www.SEGRO.com for further information.
ABOUT FIFTH WALL
Fifth Wall is the largest venture capital firm focused on technologies for the global real estate industry (property technology or “proptech”). With $1 billion capital under management across three funds, Fifth Wall connects the world’s largest owners and operators of real estate with the technology entrepreneurs who are redefining the future of the physical environment. Fifth Wall is backed by a global mix of strategic limited partners (LPs), including British Land, CBRE, Cushman & Wakefield, D.R. Horton, Equity Residential, Gecina, GLP, Hines, Host Hotels & Resorts, Hudson Pacific Properties, Lennar, Lowe’s Home Improvement, Macerich, Marriott International, MERLIN Properties, MetLife Investment Management, Mitsubishi Estate, News Corp, Prologis, PulteGroup, SEGRO, Starwood Capital, Related Companies, Toll Brothers and others. These LPs represent the largest potential customers and partners for the global Built World ecosystem, resulting in game-changing investments and partnerships in the most promising portfolio companies in retail, residential and multi-family, commercial, industrial, hospitality, and more. For more information on Fifth Wall, its partners, and portfolio, visit www.fifthwall.vc.