The Real Deal New York

Fund mulling $4B WeWork investment is Saudi-backed: report

Riyadh invested $45B in SoftBank's Vision Fund
March 07, 2017 10:15AM

King Salman bin Abdulaziz of Saudi Arabia and Adam Neumann

A Japanese fund reportedly in talks to invest up to $4 billion in WeWork is heavily backed by sovereign wealth from Saudi Arabia and other Middle Eastern countries, according to a new report.

The Saudi government invested $45 billion in SoftBank’s $100 billion Vision Fund, and government-tied entities from Abu Dhabi and Qatar are also in talks to invest, the New York Times reported. 

SoftBank is in talks to invest $2 billion in the national co-working company WeWork, along with potential further investment rounds that could bring the total commitment to almost $4 billion. The money would reportedly most likely come from SoftBank’s Vision Fund, which specializes in tech investments.

The Times reported that Abu Dhabi’s Mubadala Development, which owns a stake in the Park Lane Hotel, is mulling a $15 billion investment in the fund.  [NYT]Konrad Putzier