SoftBank won’t invest in Cadre after all

Japanese VC reportedly backed out of talks

TRD 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


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?
With many tech companies open to long-term remote work for their employees, questions are being asked about how that will impact the office and residential markets in hubs of tech talent. (iStock)

TRD Insights: What #WFH could mean for office and resi costs in tech hubs

TRD Insights: What #WFH could mean for office and resi costs in tech hubs
Jared Kushner (Getty)

Jared Kushner will keep his stake in Cadre, for now

Jared Kushner will keep his stake in Cadre, for now
Juno CEO Jonathan Scherr and a rendering of the project 

Former Apple and Tesla employees launch mass production development company

Former Apple and Tesla employees launch mass production development company
Tech giants Facebook, Twitter, Apple, Google and Netflix have inked massive new office leases across the country in recent years. How much could the pandemic change that? (iStock)

Is Covid taking the T out of TAMI?

Is Covid taking the T out of TAMI?
As resi brokers in South Florida report an uptick in sales and rentals largely fueled by homeowners fleeing dense markets like New York, office brokers say they’re starting to see a similar trend play out among tech firms. (iStock)

More tech firms eye Miami as Covid carries on

More tech firms eye Miami as Covid carries on
arrow_forward_ios

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

Loading...