Alternative investment platform Yieldstreet announced today that it has agreed to acquire Cadre, a real estate-focused online investment platform targeting institutional and high-net-worth investors.
The financial terms of the deal were not disclosed.
Founded in 2015, Yieldstreet provides people with a way to invest In areas such as real estate, shipping/shipping, legal finance, business loans and other opportunities that were previously only open to institutional investors. Milind Mehre and Michael Wise co-founded Yieldstreet with the aim of making investing more inclusive for non-institutional investors.
Staff, Founded by Ryan Williams, Joshua, and Jared Kushner in 2014 Online market that Helps connect accredited investors with real estate operators. It claimed it gave investors a way to delve deeper into commercial real estate deals “in a much more transparent way.”The company was once worth $800 million, but its value is said to have declined sharply in recent years. the information I reported earlier this year An acquisition by Yieldstreet could value the company at only about $100 million. It has raised more than $133 million in debt and venture funding from investors such as Andreessen Horowitz, General Catalyst, Khosla Ventures, Goldman Sachs, and Thrive Capital, among others.
The two companies have a collective investment value – defined as the value of combined capital transactions in real estate equity plus the amounts committed across all other investments since their inception in 2014 and 2015 – of more than $9.7 billion. Investors have committed a total of $5.3 billion to the platforms and have received $3.1 billion in returns to date, according to a statement from Yieldstreet.
Together, Yieldstreet and Cadre serve more than 500,000 members across eight institutional and retail distribution channels – 450,000 of which come from Yieldstreet and 50,000 from Cadre.
Both companies are headquartered in New York.
Williams will remain CEO of Cadre and lead a new division focused on expanding access to enterprise audiences as Yieldstreet’s global head of enterprise and client partnerships. Mike Fascitelli, Cadre’s investor and advisor, will now serve as Global Head of Real Estate and Chairman of Cadre’s Investment Committee.
TechCrunch has reached out to Yieldstreet for additional details and will update the story when we get them.
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