Fifth Wall = The Next Real Estate Accelerator

Fifth Wall, a VC firm based in LA that has raised over $200M, is entering real estate accelerator game (see TechCrunch). The program’s goal:

Fifth Wall’s Accelerator Program is a 12-month program designed to help early-stage companies: (1) get introduced to real estate companies and potential customers, (2) leverage our team’s & our strategic LPs real estate expertise, and (3) position our Accelerator companies to raise a VC round within 6-12 months.

It’s obvious real estate / property tech is a massive, massive vertical — especially if you consider mortgage, home ownership, home renovation, and insurance. That said, the real estate accelerator space is getting crowded with NAR REach, Moderne Ventures, Elmspring, Pilabs, MetaProp NYC, and AREA (I’m sure there are a few others I’m missing).

I have no idea who the winners will be — but I’m honestly not convinced the vertical is large enough for more than 2 (or maybe 3) vertical accelerators to flourish in a meaningful way (there’s already at least one that was announced that never really got off the ground). Time will be the judge of whether or not my gut proves correct.

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