Fifth Wall fosters collaboration between innovative technologies for the Built World and industry-leading incumbents from all sectors of the real estate industry including: retail, industrial, hospitality, multi-family, homebuilding, office, and brokerage.
Innovation in the Built World presents a staggeringly large opportunity. Despite being the world’s largest industry and largest asset class, real estate has been a late adopter of technology. However, we are entering a supercycle of innovation in the real estate industry as new technologies are dramatically improving how assets are designed, built, managed, bought, sold, financed, and everything in between. New technologies can make our physical environment more energy efficient, more flexible, more accessible, more secure, more connected, better utilized, and healthier. Owners of more than $200 trillion of real estate worldwide are seeking these new technologies, and consumers are demanding them.
Yet despite the vast opportunities for innovation in real estate, new technologies face many headwinds as real estate incumbents have been slow to embrace them and entrepreneurs often struggle to efficiently distribute their solutions. Success or failure hinges on the often unpredictable adoption decisions of a few large real estate incumbents.
Fifth Wall connects entrepreneurs with the largest real estate owners in the world, accelerating innovation and creating value for the entire Built World ecosystem. We aim to identify situations where one or many of Fifth Wall’s strategic real estate partners can dramatically accelerate the growth of a technology company innovating in the Built World. We aim to drive revenue, reduce risk, enhance go-to-market, and accelerate R&D to help our entrepreneurs realize their vision.
Founders Brendan Wallace and Brad Greiwe have a unique experience set at the nexus of technology & real estate.
Prior to Fifth Wall, Brendan was the co-founder and CEO of Identified (acquired by Workday) and co-founder of Cabify (the largest ridesharing service in Latin America) . He previously worked in real estate investment banking at Goldman Sachs and in real estate private equity at The Blackstone Group. He has personally invested in more than 60 early stage companies, including Bonobos, Dollar Shave Club, Earnest, Philz Coffee, and Zenefits.
Prior to Fifth Wall, Brad co-founded and served as CTO of Invitation Homes (NYSE: INVH), a Blackstone-backed company which pioneered the use of real estate technologies to value, acquire, rehabilitate, lease, and manage single family rental properties. In less than 3 years, Invitation Homes purchased more than 50,000 homes in 13 major markets becoming the largest single family rental company in the US. He previously worked in real estate investment banking at UBS and in real estate private equity at Tishman Speyer and Starwood Capital.
Brendan and Brad had been two of the most active early-stage investors in real estate technology companies, having made over 20 investments in many of the most successful companies in the category like Clutter, Opendoor, Point, Roofstock, Clara, Tripping, and Common.
In 2014, they both began advising Blackstone’s real estate group on its strategy for adopting new technologies across its significant holdings of office, hospitality, industrial, and residential real estate. In that role, they saw a rare white space in the venture ecosystem: no dedicated venture capital firms focused on this rapidly expanding category of real estate & hospitality technology. At the same time, a number of real estate technology company CEOs had begun to actively pursue strategic investments from large real estate corporates believing that such partnerships could rapidly accelerate their growth and distribution. However, despite entrepreneur's high interest in strategic/corporate investments, real estate companies were poorly organized to make venture capital bets and lacked the technical expertise to properly evaluate technologies and structure partnerships.
And so, Fifth Wall was born. Leveraging their deep real estate network, Brendan and Brad divided the industry into its major sub-sectors (brokerage, multi-family, office, hospitality, homebuilding, retail, and industrial) and systematically raised capital from industry-leading corporates in each vertical. After receiving significant investments from CBRE, Equity Residential, Hines, Host Hotels & Resorts, Lennar, Macerich, and Prologis, Fifth Wall was able to offer early stage real estate technology companies an unprecedented scale of distribution across all the major asset classes of real estate.