We intend to focus on industries that complement our management team’s background, and to capitalize on the ability of our management team to identify and acquire a technology business focusing on verticals of the real estate industry, as well as the adjacent industries that collectively make up the human-made environment that provides the setting for human activity, ranging in scale from buildings to cities and beyond, which we call the “Built World.”

Our sponsor is an affiliate of Fifth Wall Asset Management, LLC (“Fifth Wall”). Fifth Wall is one of the largest venture capital firms focused exclusively on investing at the intersection of real estate and technology, a category broadly referred to as “PropTech.” Fifth Wall was founded in 2016 after identifying the growing market opportunity in PropTech brought about by the real estate industry, the largest asset class as of the end of 2016, beginning to adopt technology at an increasingly rapid pace.  As of Nov. 30, 2020, Fifth Wall manages $1.3 billion in committed capital on behalf of its investors across three core fund strategies, and has invested in more than 40 companies, including six that have gone on to become “unicorns,” or startups with a private market valuation in excess of $1 billion.

(Note: Fifth Wall Acquisition I priced its IPO on Feb. 4, 2021, on upsized terms: 30 million shares, up from 25 million shares in the prospectus, at $10 each to raise $300 million. This is a blank-check or SPAC IPO in which shares of common stock, NOT the typical units, were offered in the IPO.)