With backing from Montreal-based Ivanhoé Cambridge, which holds tens of billions of dollars in real-estate assets, Fifth Wall's climate fund led a $16 million investment in Sealed earlier this year alongside actor Robert Downey Jr's climate fund. Last year, Fifth Wall co-founder Brendan Wallace predicted that the real estate industry would one day become 'the biggest spender on climate tech for no other reason than its contribution to the carbon problem.'įifth Wall declined to comment publicly on the fund when reached for comment last week by dot.LA. The firm said today that it has brought in another partner to co-lead its climate team: Peter Gajdoš, the San Francisco-based former head of venture investments for wealth management group IPM. In December, Fifth Wall announced it had brought in prolific clean-tech investor Greg Smithies to head its efforts to 'decarbonize the built world.' That's when the firm went public about its plan to raise at least $200 million to invest in climate tech. That's up from $116.8 million earlier this month, when the firm last disclosed its fundraising efforts for the climate investment vehicle in an amended SEC filing. Fifth Wall, the fast-growing real estate tech venture firm, revealed Monday that it has scored $140 million for its Early-Stage Climate Technology Fund.
