SoftBank won’t invest in Cadre after all

Japanese VC reportedly backed out of talks

New York /
Jul.July 30, 2018 06:18 PM

From left: Cadre’s Ryan Williams and Softbank’s Masayoshi Son (Credit: Getty)

SoftBank’s Vision Fund decided against investing in Cadre, the real estate investment startup co-founded by Ryan Williams and Jared and Joshua Kushner.

Cadre is still in talks with other investors for a funding round that could value it at $2 billion, according to Bloomberg.

SoftBank and Cadre were in talks over an investment of at least $100 million, Bloomberg reported in May. The talks raised conflict-of-interest concerns because SoftBank’s Vision Fund gets almost half its $100 billion from the Saudi Arabian government and another $15 billion from the United Arab Emirates. Jared Kushner, who still owns a stake in Cadre, is an advisor on U.S. Middle East policy in the Trump administration.

Last year, Cadre raised $65 million in venture funding from a group of investors led by Andreessen Horowitz. The deal reportedly valued the startup, which invests in commercial real estate and then makes these deals available to investors through an online platform, at $800 million. [Bloomberg] — Konrad Putzier


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