Fifth Wall partners Brendan Wallace and Sarah Liu with others on the roof terrace of the Fifth Wall headquarters in New York City.
Fifth Wall Ventures Management LLC raised the largest-ever venture fund focused on real-estate technology companies, the company said, a sign that some major investors are still bullish on property startups despite this year’s surge in interest rates.
The $866 million fund, which closed on Friday, will invest in both early- and late-stage startups.
Annaly Capital Management Inc., Arbor Realty Trust Inc., CBRE Group Inc., Equity Residential and a number of other major real-estate companies invested in the fund.