PGIM Real Estate has invested an undisclosed sum into the Fifth Wall European Real Estate Technology Fund.
The fund is the first European-focused strategy from Fifth Wall, a venture capital firm specialising in property technology. According to Brendan Wallace, co-founder of Fifth Wall, real estate has been a “tech laggard”, and the European property tech market “is on the cusp of transformative growth”.
PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.5trn global investment management business of Prudential Financial.