# Fifth Wall Founder on VC Funding Strategy

> Brendan Wallace explains how Fifth Wall targets PropTech with $3.1B in assets and 10 IPOs.
- Title: Fifth Wall Founder on VC Funding Strategy | Shortify
- Summary: Brendan Wallace explains how Fifth Wall targets PropTech with $3.1B in assets and 10 IPOs. Fifth Wall, a PropTech-focused VC firm founded in 2016, has 115…
- Keywords: fifth wall, brendan wallace, prop tech, vc funding, investments, ipo, real estate tech, atoms inc, cabify, workplace strategy, business, local
- Source: Los Angeles Business Journal — https://labusinessjournal.com/featured/fifth-wall-founder-talks-vc-funding-strategy
- Author: Hannah Welk
- Published: 2026-10-26T07:02:16+00:00
- Read time: 2 min
- Topics: fifth wall, brendan wallace, prop tech, vc funding, investments, ipo, real estate tech, atoms inc, cabify, workplace strategy, business, local
## Fifth Wall's Growth
Fifth Wall has 115 strategic partners, $3.1 billion in assets, and helped 170 companies grow since 2016.
## Atoms Inc. Investment
Fifth Wall invested $135 million in Atoms Inc., a ghost kitchen startup by Travis Kalanick.
## Brendan Wallace's Background
Wallace graduated from Princeton, worked at Goldman Sachs and Blackstone, then started a tech company that sold to Workday.
## Fifth Wall's Founding
Wallace founded Fifth Wall in 2016 to focus on PropTech, the first VC fund for real estate tech.
## Early Fund Raising
Fifth Wall raised $212 million in its first fund, attracting L.A.-based real estate firms like CBRE and Public Storage.
## Remote Work Shift
Fifth Wall moved to remote work during COVID, then expanded offices to New York, San Francisco, London, Singapore, and Abu Dhabi.
## Office Strategy
Wallace returned to Los Angeles in 2023 after seeing office environments boost IPOs and investor performance.
## Investment Strategy
Fifth Wall buys minority stakes in tech companies from seed rounds to $10 million series A investments.
## Atoms Inc. Example
Fifth Wall invested $135 million in Atoms Inc., a ghost kitchen startup by Travis Kalanick.
## IPO Strategy
Fifth Wall exits through IPOs or company sales, typically six to three years after IPOs.
## Recent IPOs
Fifth Wall has seen IPOs in companies like Lime, Opendoor, ServiceTitan, and Procore.
## IPO Market Shift
Large IPOs by companies like SpaceX and Anthropic are backlogging smaller companies from $5 to $20 billion.
## Future Strategy
Fifth Wall plans to build new real estate companies using AI, autonomy, and robotics.
## Specialized Funds
Fifth Wall will create both general funds and specialized vehicles for faster-moving tech trends.
## Strategic Partners
Fifth Wall partners with real estate giants like CBRE, Marriott, and Public Storage to boost investments.
## Next Steps
Fifth Wall aims to identify new real estate asset classes through AI, autonomy, and robotics.
## Key takeaway

Fifth Wall, a PropTech-focused VC firm founded in 2016, has 115 partners, $3.1B in assets, and 10 IPOs including companies like Lime and Opendoor.