Deals
Kushner’s Cadre Fails to Win Backing From SoftBank
- Stake could have posed conflicts amid Sprint-T-Mobile review
- Other offer said on the table would value Cadre at $2 billion
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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.