Thursday, January 25, 2018

Fifth Wall Backs Opendoor In $135M Investment Round

Venice, California-based venture capital investor Fifth Wall says it has made a $135M investment in San Francisco-based real estate sales startup Opendoor, as part of a combined equity and debt funding. According to Fifth Wall, it provided $100M in debt financing, along with its anchor LP, Lennar Corporation, in addition to investing $35M in equity from its Fifth Wall Fund. The funding came as part of Opendoor's Series D funding round. Fifth Wall focuses on investing in real estate technology--in an area it calls the "built world"--and first announced the fund back in May of 2017. Fifth Wall's LPs include CBRE, Equity Residential, Hines, Host Hotels & Resorts, Lennar, Macerich, and Prologis. Opendoor allows people to sell their home instantly online, without a traditional listing, showing, or real estate agent.

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