One of the most active proptech and climate tech venture capital vehicles is taking a significant step back.
Fifth Wall has reduced its headcount and suspended fundraising, according to Axios. The VC firm has more than $3B in commitments and assets under management. It has companies like property management startup Lessen, solar software company Aurora, leasing platform VTS and storage marketplace Neighbor in its portfolio.
Fifth Wall didn’t specify how many employees it let go and didn’t respond to a request for comment.
The proptech firm cited interest rates and shifting climate policy from the Trump administration as deciding factors in the reductions.
While the Federal…