Fifth Wall, focused on real estate tech and managing $3.2B, looks to eat up even more of its market

News Summary

  • And we’re at the dawn of that right now.I do believe, though, that the opportunity in climate tech is a multiple of that simply because the cost required to decarbonize the real estate industry is so vast.
  • We actually invested in a company called Brimstone alongside Bill Gates and Jeff Bezos because they also see this opportunity that this is one of the major spend categories where that $18 trillion that’s required to decarbonize real estate is going to go.
  • But that firm, Fifth Wall, which argues there are massive financial returns at the intersection of real estate and tech, isn’t worried about digesting that capital.
  • It can be leasing, asset management software, fintech, mortgages, operating systems, keyless entry — but it doesn’t necessarily have the effect of decarbonizing the real estate industry.
  • The cost to decarbonize the U.S. commercial real estate industry is estimated to be $18 trillion.
  • That is just the U.S. commercial real estate industry.
Brendan Wallaces ambition is beginning to seem almost limitless. The L.A.based venture firm that Wallace and cofounder Brad Greiwe launched less than seven years ago already has $3.2 billion in ass [+6859 chars]