Michael New, Principal at Fifth Wall, joins us to talk about their recent close of a $500 million dollar real estate venture fund. Michael tells us about the surprising obvious opportunity their firm has identified for decarbonizing the real estate industry.
During our conversation, he shared the opportunity he identified to build a Venture Capital fund with a focus on real estate.
“ The real estate industry is the single largest contributor to climate change. It is the largest emitter of greenhouse gasses and the largest consumer of raw materials.” — Michael New [0:05:58]
You’ll hear who the world’s largest carbon contributor is and you’ll also gain insight into Michael’s own investment decisions for the firm.
Michael discusses relationship building, business leadership, investor behaviour, and the impact technology can have in the real estate industry.
Listen to today's insightful episode – it's one you won't want to miss.
KEY POINTS FROM THIS EPISODE:
Michael New gives us an introduction to his background as a Principal at Fifth Wall.
His surprise at the fact that there were no Venture Capital funds focusing on real estate.
Why the original vision for Fifth Wall has remained unchanged.
The unexpected contribution to climate change made by the real estate industry.
Opportunities in carbon reduction and carbon removal.
How climate change activism has evolved since its emergence ten years ago.
Why you need to care about sustainability whether or not you believe in climate change.
Similarities between the energy and internet industries.
What surprised Michael most about the real estate investment landscape.
Why being able to tell a story is key to gaining favour with investors.
Advice for CEOs: find investors that are interested in helping you grow.
How the relationships you build with venture capitalists set the tone for all future relationships.
The compounding effect that technology can have on your relationship building.
His customer-driven and relationship-central approach.
What Michael wants to see in entrepreneurs he chooses to work with.
Why this is such an interesting time to test VC and investor relationships.
The evolving role of business leadership and investor behaviour.
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