Press Release

Norwest Venture Partners, NEA + Fifth Wall Invest in OpenDoor

December 12, 2016

Palo Alto – December 12, 2016 – Cooley advised Norwest Venture Partners, New Enterprise Associates and Fifth Wall Ventures in their investments in real estate innovator OpenDoor. The investments were part of OpenDoor’s $210 million Series D round, which was led by Norwest. Other investors included Khosla Ventures, GGV Capital, Access Industries, Lakestar, SVB Capital, Caffeinated Capital and Felicis Ventures.

OpenDoor, the consumer marketplace for homes, removes all the headache, uncertainty and risk from buying and selling real estate.

Norwest is a global, multi-stage venture capital and growth equity investment firm with approximately $6 billion in capital under management. A client since 1994, Cooley advises the fund on matters related to its fund formations and investments. In January 2016, Cooley advised Norwest on the formation of its thirteenth fund, valued at $1.2 billion.

Longtime Cooley client NEA is a global venture capital firm investing in technology and healthcare with nearly $17 billion in cumulative committed capital since inception. Cooley has advised on 100+ financings for NEA since it became a client in 1987. 

Fifth Wall, which launched in August 2016, is a real estate & hospitality technology-focused venture capital fund. In addition to providing counsel on the firm’s financings, Cooley advises on its fund formation work. Fifth Wall portfolio companies include b8ta, ClassPass, Clutter, Notarize, States Title and VTS.

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