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

Miami /
Mar.March 07, 2017 10:35 AM

From the New York website: 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, according to the New York Times.

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


Related Articles

arrow_forward_ios
Pacaso CEO Austin Allison and one of their Miami listings (Pacaso)
Second-home startup Pacaso expands into South Florida
Second-home startup Pacaso expands into South Florida
1500 Concord Terrace and Atal Bansal, founder and CEO of Chetu (Photos courtesy of Chetu)
Software firm Chetu buys Sunrise office property for $25M
Software firm Chetu buys Sunrise office property for $25M
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Fuse Group Investment CEO Eyal Peretz and attorney Michael Ehrenstein (Fuse, Ehrenstein Sager, Twitter via GUT Miami)
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
(Photos courtesy of Hitzig Militello)
Argentine architecture firm opening first U.S. office in Miami
Argentine architecture firm opening first U.S. office in Miami
Founders Fund partners Peter Thiel and Keith Rabois (Getty/Illustration by Kevin Rebong for The Real Deal)
Silicon Valley’s Founders Fund inks Miami lease
Silicon Valley’s Founders Fund inks Miami lease
Blink’s Michael Farkas and Lionstone’s Diego Lowenstein with 605 Lincoln Road (Google Maps)
Blink buys office condo on Miami Beach’s Lincoln Road for new HQ
Blink buys office condo on Miami Beach’s Lincoln Road for new HQ
117 Northeast First Avenue (Getty, Gut Miami via Twitter)
Lender sues owners of downtown Miami WeWork building over allegedly unpaid loan
Lender sues owners of downtown Miami WeWork building over allegedly unpaid loan
arrow_forward_ios

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

Loading...