Ivanhoé Cambridge has created a strategic partnership with Fifth Wall, a venture capital firm with a focus on real estate technology.
Ivanhoé Cambridge and Fifth Wall say they share the belief that their partnership will accelerate Ivanhoé Cambridge’s technology adoption and innovation across its portfolio.
To date, Ivanhoé Cambridge has also committed $85m across four Fifth Wall funds focused on climate technology, retail, real estate technology in North America and Europe, and is the first investor in Fifth Wall’s Climate Technology Fund.
Sylvain Fortier, chief investment and innovation officer at Ivanhoé Cambridge, said: “This strategic partnership is perfectly aligned with our investment vision and will enable us to create value as well as accelerate the deployment of technology-based solutions across our portfolio. It will allow us to have direct access to companies and have insights into emerging trends in proptech.”
With approximately $1.7bn in commitments and capital under management across multiple strategies, Fifth Wall employs the model of working with strategic limited partners in venture capital, and 65 of the largest real estate owners, operators and developers from 15 countries have invested in one or more of Fifth Wall’s funds.
Fifth Wall’s investment track record and network aims to provide insight and direct access to technological solutions that will enable Ivanhoé Cambridge to “further strengthen and accelerate its technological and service-driven transformation”.
Brendan Wallace, co-founder and managing partner at Fifth Wall, added: “Real estate owners are finding that while investing in technology and innovation is complicated and challenging to do it all in-house, it’s absolutely imperative to the future of their business.
“We’re thrilled to be working with Ivanhoé Cambridge and deeply impressed by their holistic view of how large the opportunity is at the collision between real estate and technology, as reflected by their $85m investment across all of Fifth Wall’s strategies, including climate technology, retail, and real estate technology in North America and Europe.
“Proptech is no longer niche; it is now one of the largest categories of venture capital and transforming the real estate industry. Ivanhoé Cambridge’s significant commitment to Fifth Wall symbolises their deep understanding of how important Proptech has become.
“It is also inspiring to have Ivanhoé Cambridge as the first investor in Fifth Wall’s Climate Technology Fund, and I hope their bold commitment to that fund encourages other real estate owners to begin investing in Climate Tech and to fund the R&D that is required to decarbonise the real estate industry.”
This post has originally been featured in Property Wire.