BNP Paribas Real Estate First European Proptech Fund
Fifth Wall, a venture capital firm focused on real estate technology, has partnered with BNP Paribas Real Estate to launch its business in Europe with the Fifth Wall Real Estate Technology European Fund, the firm's first European Proptech fund. The California-based company founded in 2016 has over USD1.2 billion under management, raised from industry stakeholders via several funds. The investment in the Fund is a strategically important move for BNP Paribas Real Estate, envisioning that innovative tech solutions will be critical for developing better buildings and cities. The Fund aims mainly to identify and invest in the most promising European proptech startups and to accelerate European real estate innovation adoption, replicating the success with Fifth Wall’s prior funds, which were focused on investing primarily in US-based startups. The partnership with Fifth Wall will allow BNP Paribas Real Estate to identify innovative tech solutions and partners that will enable it to assist its clients more effectively. It will help to strengthen its existing culture of innovation and support the development of better built environments, while also improve management of buildings and help to enhance the user experience. As part of their team up, BNP Paribas Real Estate and Fifth Wall will also look for opportunities to Fifth Wall will offer strategic support to BNP Paribas Real Estate that will further enhance its tech credentials.
Tags : INTERNATIONAL