Ivanhoé Cambridge has formed a strategic partnership with real estate tech VC Fifth Wall as part of plans to accelerate technology adoption and innovation across its global estate.
The partnership comes alongside a total commitment to date of $85m (£61m) of investment into four Fifth Wall funds and a seed investment into Fifth Wall’s Climate Technology Fund.
“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,” said Sylvain Fortier, chief investment and innovation officer at Ivanhoé Cambridge. “It will allow us to have direct access to companies and gain insights into emerging trends in proptech.”
Brendan Wallace, co-founder and managing partner of Fifth Wall (pictured above, left, with partner Tyson Woeste), 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.
“Proptech is no longer niche; it is now one of the largest categories of venture capital and is transforming the real estate industry. Ivanhoé Cambridge’s significant commitment to Fifth Wall symbolises its deep understanding of how important proptech has become.”
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