Fifth Wall bolsters climate funds with fresh infusion

Fifth Wall more than tripled commitments to $495 million for its Early-Stage Climate Technology Fund, while also securing fresh funding for its inaugural Late-Stage Technology Fund, Axios has learned.

Why it matters: Fifth Wall is doubling down on its bet that the future of real estate startups lies in the overlap with climate technology.

Details: Fifth Wall's Early-Stage Climate Technology Fund tripled its tranche from $116 million in August 2021, according to an SEC filing Friday.

• At the same time, it more than quadrupled LP commitments to 69 institutions from 16 in 2021.
• Fifth Wall registered its Late-Stage Technology Fund in February but hadn't received any reported commitments at the time. In a separate SEC filing Friday, it listed 23 LPs on the fund. Fifth Wall secured $192 million for the fund.

Zoom out: Southern California-based Fifth Wall currently has roughly $3 billion AUM and has backed startups such as Aurora Solar and Electric Hydrogen.

• The investor participated in two rounds this week: Assembly OSM's $38 million Series A, and Wildcat Discovery Technologies' $90 million Series D.