Knight Frank is investing an undisclosed sum in a venture capital firm specialising in PropTech.
The money is going into a European PropTech fund run by Fifth Wall, which Knight Frank describes as the largest venture capital firm focused on real estate technology.
A statement says: “Fifth Wall hopes to bring this same level of engagement to European startups, connecting them as valuable solutions to some of the European real estate market’s most pressing challenges. Knight Frank’s investment in the Fifth Wall European Real Estate Technology Fund will provide the property consultancy with insights into future technology trends that are shaping the Built World and disrupting the industry.”
Alistair Elliott, group chairman at Knight Frank, says the agency’s key objective is “to ensure we have active involvement in the ever evolving PropTech arena, whilst ensuring we are able to embrace initiatives to better improve our client service. This investment is particularly pertinent given our focus on shaping our firm’s future in its 125th year.”
Fifth Wall has worked with agencies and other property players in North America, Asia and mainland Europe.
Brendan Wallace, co-founder, says: “We’re excited to welcome Knight Frank as a new member of Fifth Wall’s global consortium of more than 65 corporate real estate investors from 15 countries, and we’re eager to help Alistair and the Knight Frank team engage more fully with the European PropTech eco-system.”
Knight Frank’s investment into Fifth Wall is the firm’s latest play in the PropTech space.
It’s made major investments into a new data centre team and geospatial mapping capabilities, as well as several partnerships with international start-ups.