LOS ANGELES, Sept. 20, 2021 /PRNewswire/ -- Fifth Wall,
the largest venture capital firm focused on technology for the
global real estate industry, today announced its Climate Tech Fund
has raised more than $140 million to
date from Equity Residential (NYSE: EQR), Hudson Pacific Properties
(NYSE: HPP), Invitation Homes (NYSE: INVH), Ivanhoé Cambridge, and Kimco Realty Corporation (NYSE:
KIM). These new investors are part of Fifth Wall's rapidly growing
consortium of leaders in sustainability from the real estate
industry that have committed to Fifth Wall's Climate Tech Fund to
decarbonize the industry.
With its ambitious target of $500
million, Fifth Wall's Climate Tech Fund represents the first
time that real estate industry heavyweights have come together,
collectively and cooperatively, to close the significant climate
tech funding gap in real estate and dramatically reduce the
industry's carbon footprint. Fifth Wall's Climate Tech Fund will
represent the largest pool of capital ever assembled to invest in
the technologies to decarbonize the $9
trillion real estate industry, which is responsible for 40%
of all greenhouse gas emissions globally.
"Many real estate firms simply talk about their
commitments to sustainability and decarbonization. However,
it's inspiring to see organizations like Equity Residential, Hudson
Pacific Properties, Invitation Homes, Ivanhoé Cambridge, and Kimco back up their
sustainability commitments with such significant investments into
the climate technology needed to decarbonize the industry through
their participation in Fifth Wall's Climate Tech Fund," said
Brendan Wallace, Co-Founder &
Managing Partner, Fifth Wall. "We hope that more real estate
organizations will follow their lead and equally commit to climate
tech that is so critical to mitigating the real estate industry's
contributions to climate change."
"Equity Residential was an initial partner of Fifth Wall in its
property technology funds, which are generating both strong
financial returns as well as innovations in how we operate our
portfolio, and we are excited to continue this relationship with
our investment in their Climate Tech Fund," said Mark J. Parrell, Equity Residential's President
and CEO. "We expect this fund to give us early access to emerging
ideas, companies and technologies that will help Equity Residential
address crucial topics around environmental sustainability and
climate resilience in our portfolio."
"Hudson Pacific is proud to
invest in Fifth Wall's Climate Tech Fund to support the development
of innovative technologies focused on decarbonization across our
industry," said Victor Coleman,
Hudson Pacific's CEO and Chairman.
"In line with our Better Blueprint™ ESG
platform, and our achievement of 100% carbon neutrality in 2020,
this investment exemplifies our continued leadership in and
commitment to employing technology solutions throughout our
portfolio as a key component of our strategy to address climate
change."
"Kimco's investment in Fifth Wall's Climate Tech fund marks a
significant milestone on the path to achieving our sustainability
goals," said Kimco Realty Corporation's CEO, Conor Flynn. "While we expect the fund to
provide early access to emerging companies and technologies, the
investment also underscores Kimco's commitment to exceptional,
sustainable real estate and our belief that leadership in climate
and sustainability goals can create long-term value for all of our
stakeholders."
Thus far, the Fifth Wall Climate Tech Fund has invested in
several companies addressing climate change for the global real
estate industry, including ICON, Sealed, and Turntide
Technologies.
This announcement comes as the Atlantic Council hosts Fifth
Wall's Brendan Wallace and Natalie
Teear, Hudson Pacific's Senior Vice
President of Innovation, Sustainability and Social Impact during
its Climate Week NYC event today, September
20 at 11 a.m. EDT. To view the
panel discussion, click here.
Fifth Wall Adds New Climate Tech Investment
Partner
Fifth Wall is also pleased to announce that Peter Gajdoš has
joined the firm as a Partner and will co-lead the Climate Tech
Investment team.
Peter brings 15 years of experience in climate tech to Fifth
Wall, most recently serving as Head of Venture Capital at IPM Group
and Managing Director and Portfolio Manager at Presidio Partners,
where he focused on venture and growth investments in climate tech
and biotech. Peter has been involved in several public listings,
including Cnano Technology, Arcadia Biosciences, Auspex
Pharmaceuticals, among others. He started his career in J.P.
Morgan's Energy Group in New York
before joining Sir Richard Branson's
Virgin Green Fund in London.
"I am thrilled to join the Fifth Wall team," said Peter Gajdoš,
Partner & Co-Lead of the Climate Technology Investment team.
"I've dedicated my career to an investment thesis focused on
climate tech and I look forward to leveraging my investment
experience and my passion for climate tech to help Fifth Wall's
Climate Tech Fund deliver the greatest possible impact together
with our investors and corporate partners."
About Fifth Wall
Founded in 2016 and based in Los
Angeles, California, Fifth Wall, a Certified B Corporation,
is the largest venture capital firm focused on technology-driven
innovation for the global real estate industry. With approximately
$2.5 billion in commitments and
capital under management, Fifth Wall connects many of the world's
largest owners and operators of real estate with the entrepreneurs
who are redefining the future of the Built World. Fifth Wall is
backed by a global mix of more than 70+ investors from 15
countries, including Acadia Realty Trust, Azora, BNP Paribas Real
Estate, British Land, CBRE, Cushman & Wakefield, D.R. Horton,
Equity Residential, Gecina, GLP, Hines, Host Hotels & Resorts,
Hudson Pacific Properties, Invitation Homes, Ivanhoé Cambridge, Jamestown, Kimco Realty Corporation, Knight
Frank, Lennar, Lowe's Home Improvement, Macerich, Marriott
International, MERLIN Properties, MetLife Investment Management,
Mitsubishi Estate, News Corp, MOMENI, Nuveen Real Estate, PGIM Real
Estate, Pontos Group, Prologis, PulteGroup, Related Companies,
SEGRO, Starwood Capital, Toll Brothers, Vanke, and others. Fifth
Wall believes this strategic corporate consortium represents one of
the largest groups of potential partners in the global Built World
ecosystem, which can result in game-changing investments and
collaborations in promising portfolio companies in retail,
residential and multi-family, commercial, industrial, hospitality,
and more. For more information about Fifth Wall, its partners, and
portfolio, visit www.fifthwall.com.
About Equity Residential
Equity Residential is committed to creating communities where
people thrive. The Company, a member of the S&P 500, is focused
on the acquisition, development and management of residential
properties located in and around dynamic cities that attract high
quality long-term renters. Equity Residential owns or has
investments in 307 properties consisting of 79,322 apartment units,
with an established presence in Boston, New
York, Washington, D.C.,
Seattle, San Francisco and Southern California, and an expanding presence
in Denver, Atlanta, Dallas and Austin. For more information on Equity
Residential, please visit our website
at www.equityapartments.com.
About Hudson Pacific Properties
Hudson Pacific is a real estate
investment trust with a portfolio of office and studio properties
totaling over 20 million square feet, including land for
development. Focused on global epicenters of innovation, media and
technology, its anchor tenants include Fortune 500 and leading
growth companies such as Google, Netflix, Riot Games, Square, Uber
and more. Hudson Pacific is publicly
traded on the NYSE under the symbol HPP and listed as a component
of the S&P MidCap 400 Index. For more information visit
HudsonPacificProperties.com.
About Kimco
Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust
(REIT) headquartered in Jericho,
N.Y. that is North
America's largest publicly traded owner and operator of
open-air, grocery-anchored shopping centers and mixed-use assets.
The company's portfolio is primarily concentrated in the first-ring
suburbs of the top major metropolitan markets, including those in
high barrier-to-entry coastal markets and rapidly expanding Sun
Belt cities, with a tenant mix focused on essential,
necessity-based goods and services that drive multiple shopping
trips per week. Kimco is also committed to leadership in
environmental, social and governance (ESG) issues and is a
recognized industry leader in these areas. Publicly traded on the
NYSE since 1991, and included in the S&P 500 Index, the company
has specialized in shopping center ownership, management,
acquisitions, and value enhancing redevelopment activities for more
than 60 years. As of June 30, 2021,
the company owned interests in 398 U.S. shopping centers and
mixed-use assets comprising 70 million square feet of gross
leasable space.
Disclaimer
Equity Residential, Hudson Pacific Properties, Invitation Homes,
Ivanhoé Cambridge, and Kimco
Realty Corporation (collectively, the "Partners") currently are
investors in one or more Fifth Wall funds and have, and may have in
the future, other business relationships with Fifth Wall and its
affiliates. Fifth Wall did not compensate any Partner directly
or indirectly for the press release. The Partners have, and
are expected to continue to have, certain preferential rights in
Fifth Wall funds and its other strategic or business relationships
with Fifth Wall or its affiliates, including preferential access to
certain investment opportunities and access to certain strategic
advisory services provided by affiliates of Fifth Wall unrelated to
the Partners' investments in any Fifth Wall fund. As a
result, the Partners' views with respect to Fifth Wall are not
necessarily indicative of the views of other investors in Fifth
Wall funds, including those who do not have access to such
preferential rights.
For Media:
Julie Lydon, Fifth Wall
(415) 816-9397
julie@fifthwall.com
View original
content:https://www.prnewswire.com/news-releases/fifth-wall-kicks-off-climate-week-nyc-by-welcoming-many-new-strategic-investors--a-new-partner-to-its-climate-tech-fund-301380133.html
SOURCE Fifth Wall