Venture capital firm Fifth Wall has closed its second real estate technology fund, Fund II, with $503 million in commitments. The fund closed oversubscribed and is double the size of Fifth Wall's first fund, which closed in 2017 with $212 million in commitments. The second fund is the largest active venture capital fund in Los Angeles.

The fund's investors include owners, operators, and developers of real estate, with global investor interest from over 50 corporate strategic investors from 11 countries. The list of international investors includes Gecina in France, MERLIN Properties in Spain and British Land as well domestic names like Starwood Capital and Related Companies.

Like the first fund, the second fund will continue to help large real estate corporations access new technologies that can transform their businesses. The firm has nine-person consulting team to help real estate investors address the strategic and operational challenges of new technology adoption and to help structure partnerships, integrations, contracts and distribution deals.