Meet Fifth Wall: The Venture Capital Firm That’s Helping Digital Retailers Open Physical Stores
A wave of digital retailers is moving from the internet and into some of the empty mall space left vacant by companies in bankruptcy, like Sears and Payless ShoeSource, or trimming back their real estate, like Gap. One venture capital firm is at the center of the new normal in retail as traditional sellers scale back their footprint while digitally native companies open some of their first brick-and-mortar locations. Headquartered in Venice, California, Fifth Wall Ventures has backed more than a dozen businesses, including electronic scooter maker Lime, co-working platform Industrious and real estate analytics company VTS. It has $305 million in assets under management, investing mostly in tech and real estate. Now, it has its eyes set on retail. Read more at CNBC.
