Business
Kushner’s Cadre Fails to Win Backing From SoftBank
By David Kocieniewski , Stephanie Baker , Caleb Melby , and Julie Verhage
2018年7月30日 18:04 GMT+2
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→Other offer said on the table would value Cadre at $2 billion
The SoftBank Vision Fund has walked away from talks to invest in Cadre, a real-estate technology startup owned partly by Jared Kushner, but other investors are offering to buy a stake, according to people familiar with the discussions.
One term sheet would value the firm at as much as $2 billion, two of the people said. That would be more than double an $800 million appraisal at the end of last year. Reema Bahnasy, a spokeswoman for Cadre, declined to identify that investor or provide any other information about the sensitive discussions.
Jared Kushner helped start the company with his brother, Josh, and a Harvard classmate, Ryan Williams, and has held onto his stake even after shedding certain other assets to avoid appearance problems as he became a senior adviser to his father-in-law, President Donald Trump.
Because Jared Kushner is overseeing Middle Eastern policy, the potential investment by the SoftBank Vision Fund drew attention. The fund, an investment arm of SoftBank Group Corp., derives much of its $100 billion war chest -- one of the biggest in the world -- from Saudi Arabia and the United Arab Emirates. Its headline deals have tended to be in the billions of dollars. The Cadre investment would have been small by comparison.
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Jared Kushner Photographer: Eric Thayer/Bloomberg
