VC Firm Fifth Wall Plans Property Technology-Focused SPAC

Fifth Wall, a Los Angeles-based venture firm, is planning to raise capital through a special purpose acquisition company, a sign that the momentum behind a vehicle that became mainstream in 2020 has continued into the new year.

The firm, founded by Brad Greiwe and Brendan Wallace, selected underwriters for a blank-check company that’s set to seek out a target in the property-technology sector, said people with knowledge of the matter. A listing could occur as soon as the current quarter, one of the people said.