Executives at Cadre eagerly watched SoftBank’s Vision Fund dole out billions of dollars to companies such as Uber, WeWork and Slack Technologies. Then they got their chance.
Along with those obstacles, Cadre has had to weave a path around the Kushners’ rising political profile, executive departures and some inflated business claims, according to company documents and interviews with more than a dozen investors, current and former employees, and others with knowledge of its inner workings.Cadre’s engagement with SoftBank exemplified those problems.
Cadre has good reason to position itself as a cutting-edge technology provider rather than a more pedestrian buyer of real estate. Investors eager to bet on a disruptive force have valued property technology companies such as Cadre and the brokerage Compass at multiples of their revenue. Cadre’s last funding round, in 2017, valued it at $800 million, even though it had bought stakes in only a handful of properties worth far less.
About 20% of Cadre’s funds come from outside the U.S., the company says. The company’s international clientele is mostly wealthy individuals and family offices, as opposed to institutions, Williams said. Cadre is housed in the 19th century Puck Building, among the Kushners’ prized assets. Two floors up are the offices of Thrive Capital, the venture capital firm of Josh Kushner, who continues to advise Cadre. Cadre’s first two investments came as part of Kushner Cos. deals for apartments in Queens and suburban New Jersey, giving the start-up early viability.
That's the risk one takes to be involved in politics, esp. Trump politics. I'm sure he'll survive.
Corruption
CRIMINALS to the day they die. TrumpCrimeFamilyMustGo
About time the grifters get what they deserve.
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