Venture Capital Firm Launches Bricks-and-Mortar Initiative

Fifth Wall Ventures (Venice, Calif.) has announced a new initiative that will help e-commerce retailers raise funding to open physical storefronts. As of November the firm has raised $64.24 million with a target of $200 million.

The venture capital firm is no stranger to helping brands break though to brick-and-mortar: It’s the firm behind brands Untuckit (a men’s shirt company) and Taft (a men’s boot and shoe brand – both of which have graduated from e-commerce startups to retailers with their own physical stores. According to CNBC, other brands the firm has championed include Heydey (a shoe company), Madison Reed (a home hair color brand) and Foxtrot (a food delivery platform).

The venture capitalists also plan to help bridge the gap between store closures from brands like Gap and Victoria’s Secret and help small brands find connections to large retail landlords.