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Fifth Wall announced $1bn proptech investment fund, sector not awake

VC outlet Fifth Wall Ventures has announced that the oversubscribed second funding round of $503mn has closed, giving the firm over $1bn to invest into the proptech sector. However, much of the market still understands proptech to constitute websites and applications that make renting or buying property easier, and are asleep to the opportunity that smart building technologies could provide. Founded in 2016, Fifth Wall is the largest proptech-focused fund in the market, and has substantial clout when it comes to crowning victors. However, if all it focuses on are mechanisms to better facilitate leasing and selling, then it will miss a raft of opportunities in using smart building technologies to improve the retail and rental value of property on…

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