US venture capital firm Fifth Wall has reached $500m of investment for its innovative fund that will invest in software, hardware, renewable energy, energy storage, smart buildings, and carbon sequestration technologies to decarbonise the $10.5tr global property market.

The Fifty Wall fund represents the largest investment so far in the ‘proptech’ sector, and the fund listed commitments from British Land, CBRE, Hilton and MGM Resorts among others.

Property remains both the largest and least technologised industry globally, and Fifth Wall has created a niche in intermediating between proptech startups and established real estate organisations. Since 20126 the firm has help drive the idea of technology and climate change reduction within the property sector, whilst the sector has overshadowed by industries like manufacturing, transportation and agriculture.

However, property is actually the largest contributor to climate change, consuming 40 per cent of the world’s energy, emitting 30up to 40 per cent of all greenhouse gasses, and consuming 40 per cent of all raw materials. In the US, it represents 13 per cent of GDP, but is responsible for 40 per cent of CO2 emissions.

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