Fifth Wall sets sights on clean infrastructure
The VC firm has hired Alok Sindher as partner to tackle decarbonisation in infrastructure as part of its climate business.
As part of the business’s expansion, Fifth Wall has also hired Heather McGeory as head of climate and ESG partnerships.
Having focused on taking non-controlling venture and growth equity stakes in “promising startups”, the fund will now start to invest in renewable energy infrastructure, decarbonisation services and project finance. Fifth Wall will also invest in debt securities and majority equity stakes in companies.
By doing so, Fifth Wall will be able to finance companies’ technologies in an effort to scale them from laboratory to deployment.
Prior to joining Fifth Wall, Sindher served as partner at The D.E. Shaw Group’s renewable energy and infrastructure platform for more than a decade.
He previously worked for J.P. Morgan’s Energy Investment Banking group and currently serves as an adviser to the US Department of Defense’s energy transition and decarbonisation efforts.
McGeory joined Fifth Wall from APCO Worldwide where she advised multilateral institutions and corporates on their climate engagement. Before that, she developed corporate commitments on climate change through the We Mean Business Coalition.
Brendan Wallace, co-founder and managing partner of Fifth Wall, said: “Fifth Wall has firmly established itself as today’s leading venture and growth equity investor in emerging technologies to decarbonise the global real estate industry.
“Alok’s seasoned track record combined with our new ability to invest in climate infrastructure is the necessary, synergistic element to accelerating the energy transition for the real estate industry, representing an $18tn opportunity.”
New year’s appointments
Several companies within proptech started the year with expansions and new hires. Fifth Wall opened its APAC office this month, appointing Yvonne Voon as a partner covering the region.
Meanwhile, workplace software provider essensys hired Daniel Brown as group chief revenue officer. Brown, who joined from WeWork, was the latest in a series of appointments by essensys, which has included Sarah Harvey as CFO, Kally Kang-Kersey as chief people officer and James Lowery as UK and European CEO.
Elsewhere in the workplace sector, Upflex hired Steven Adler as CFO to lead what the company called “this next stage of critical stage of growth” after raising $30m and striking an exclusive strategic partnership with WeWork in 2022.