Fifth Wall—the global venture capital firm focused on technology for the real estate industry—including those which decarbonize the sector, has announced its expansion into Asia-Pacific (APAC) with the notable appointment of industry veteran Yvonne Voon as a Partner covering Asia Pacific (APAC) and opening of the firm’s Singapore office, its first in the region.
What does Voon bring to Fifth Wall in the role?
Voon joins the organisation after recently serving as Head of Group Capital Raising for APAC logistics property specialist, LOGOS Property. Prior to the stint at LOGOS, Voon had a nearly fourteen year tenure at Credit Suisse, most recently serving as the global investment bank’s Head of Southeast Asia Real Estate, Investment Banking and Capital Markets. Voon holds a Bachelor of Commerce from The University of Melbourne. Voon is based in Singapore.
“Over the course of my tenure fostering and expanding investor relations, Fifth Wall and their expansive LP network across both the US and Europe has long been on my radar,” said Voon.
“I am excited to leverage my long-standing investor relationships and deep market expertise at the critical intersection of technology and real estate to help accelerate the growth of PropTech and Climate Tech across the Asia Pacific region,” Voon further commented.
What does the appointment mean for Fifth Wall?
Commenting on the appointment, Brendan Wallace, Co-Founder & Managing Partner at Fifth Wall, said, “As the largest and most active built world technology investor across North America and Europe, Fifth Wall has long had ambitions of expanding into Asia. We are thrilled to welcome a senior leader like Yvonne to our team to further propel our commitment to PropTech and Climate Tech globally, replicating our leadership with an expansion to Asia.”
Fifth Wall is the largest built world technology investor with a focus on PropTech and Climate Tech in North America and Europe boasting more than 110 strategic limited partners (LPs) from more than 15 different countries with approximately $3.2B under management.
Fifth Wall has previously attracted some of the leading Asia Pacific investors including CDL, Keppel Land, MITSUBISHI ESTATE CO., LTD, and NZ Super Fund, among others.
Since Fifth Wall was founded in 2016, PropTech investment in North America grew at a compound annual growth rate of 43% while Asia Pacific region (excluding-China) has grown at a rate of 58%. Today, investment in PropTech is growing faster in APAC than the global growth rate of 26%. The PropTech ecosystem in the region is flourishing, garnering increasing interest from North American VCs, with over 1,000 North American VCs active in Asia.