From TRD New York: The Jared Kushner-backed real estate investment platform Cadre is looking to raise $65 million in venture funding.
The funds, if raised, would give Cadre a valuation of more than $800 million.
The startup, founded in 2015 by Blackstone Group alum Ryan Williams and Joshua and Jared Kushner, has already raised around $68 million from investors including Alibaba’s Jack Ma, former Vornado Realty Trust exec Michael Fascitelli and Island Capital Group’s Andrew Farkas, the Information reported.
Cadre also landed a $250 million credit line from George Soros’ family office, as The Real Deal first reported in January.
Cadre acts as a real estate crowdfunding platform for high-net-worth individuals. The company will invest in commercial real estate deals using the credit line, and then make them available to investors online through its members-only platform. The company has been coy about disclosing what and how many deals it participated in.
Jared Kushner played a key role in growing the company, but omitted his stake in government disclosure forms when he joined his father-in-law President Trump’s administration, according to a recent report in the Wall Street Journal. [The Information] — Konrad Putzier