Debevoise Advises Fifth Wall as it Closes its $866 Million Real Estate Technology Fund III

9 March 2023

Debevoise & Plimpton LLP has advised Fifth Wall in the $866 million close of its Real Estate Technology Fund III (“Fund III”).

The fund brings Fifth Wall’s total capital raised toward property technology investment to more than $1 billion.

Fund III is Fifth Wall’s first hybrid fund, comprised of both early-stage and late-stage vehicles. Fifth Wall Early-Stage Ventures, L.P. represents the early-stage proptech venture vehicle, focusing on startups at the seed to series B stage, while Fifth Wall Ventures III, L.P. denotes the late-stage proptech venture vehicle, serving companies at the growth equity or series C stage and beyond.

For full details, see the official release here.

The Debevoise team advising Fifth Wall was led by partner Matthew Dickman, and included international counsel Fatema Al-Arayedh, counsel Joe Binder and Daniel Sinrod, associate Janice Dah Eun Kim, and corporate staff attorney David Swiedler. Tax advice was provided by partner Matthew Saronson, counsel Adam Namm, and associates Martin Connor and Veronika Polakova. Regulatory advice was provided by international counsel Jin-Hyuk Jang, counsel Sheena Paul, and associate Jan Schoberwalter.