Kushner brothers’ Cadre raises $50M in Series B

Real estate investment startup has picked up nearly $70M from investors

New York /
Jan.January 28, 2016 03:31 PM

Jared and Joshua Kushner’s real estate investment startup Cadre raised $50 million in a Series B funding round, bringing the total investment in the firm to more than $68 million.

The investment vehicle, founded last year, aims to connect institutional investors with real estate deals in gateway markets. It has the backing of real estate heavyweights such as Michael Fascitelli, who sits on its investment committee, and Andrew Farkas, who serves on its board. 

It’s unclear what the company’s new valuation is post-funding. According to Pitchbook, which tracks venture funding, Cadre was valued at $99.9 million following its $18.3 million Series A round last year. It’s unclear what the startup is now valued at, as it now appears to be reincorporated as a Delaware-based entity, RealCadre LLC.

The New York Post, which first reported the Series B financing, did not reveal who led the round. The Series A was led by Thrive Capital, a venture capital firm founded by Joshua Kushner, and General Catalyst Partners, which has invested in Snapchat and Airbnb. Other investors include Kensington Capital, Yuri Milner, Goldman Sachs, Founders Fund, Alibaba Chairman Jack Ma, the Ford Foundation and Khosla Ventures. Jared is an investor in Cadre independent of Kushner Companies, the real estate investment firm he runs.

Overall, investors threw $1.5 billion at real estate tech startups in 2015, according to venture capital database CB Insights, a 36 percent year-over-year increase from $1.1 billion in 2014. [NYP] – E.B. Solomont and Hiten Samtani

 
 

Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
Jared Kushner and Ivanka Trump with Arte Surfside (Getty, Arte)
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
The Real Deal's E.B. Solomont
Compass investors in line for payday, $100M for a flex-living startup
Compass investors in line for payday, $100M for a flex-living startup
The Real Deal's E.B. Solomont
Who made bank in Opendoor’s IPO? $100M for a visitor logbook firm Inbox
Who made bank in Opendoor’s IPO? $100M for a visitor logbook firm Inbox
Amazon CEO Jeff Bezos (Getty; iStock)
Amazon to put $2B into affordable housing
Amazon to put $2B into affordable housing
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...