Cadre collects $65 million in Series C funding

a three-year-old, New York-based real estate startup, has raised $65 million in Series C funding led by Andreessen Horowitz.

Famed VC Jim Breyer of Breyer Capital also joined the round, along with the Ford Foundation, General Catalyst Partners, Goldman Sachs, Khosla Ventures, and Thrive Capital.

Ryan Williams, a Goldman Sachs and Blackstone alum, cofounded Cadre along with Joshua Kushner and Jared Kushner. The brothers are part of a renowned New York real estate family; Joshua is now a full-time venture capitalist and Jared is now better-known as the son-in-law of, and White House senior advisor to, President Trump.

Cadre, which aims to make it easier for family offices, endowments and other moneyed investors to invest in real estate using technology, had closed its Series B round with $50 million in January of 2016. It had raised $18.3 million in Series A funding in 2015.

Williams appeared on stage at TechCrunch’s New York Disrupt event several weeks ago; he said that while Cadre today services wealthy investors, he believes that over time, Cadre can grow to serve a more diverse group of customers.

Meanwhile, the deal marks the latest in small but growing string of real-estate-related bets for Andreessen Horowitz, whose general partner (and former OpenTable CEO) Jeff Jordan led the deal.

Nearly two years ago, the Sand Hill Road firm brought aboard serial entrepreneur Alex Rampell as a general partner to focus on fintech, including as it relates to real estate as a new asset class.

One of Rampell’s earlier bets is Point, a two-year-old startup that invites homeowners to sell a fraction of their home to long-term investors. Point founder Eddie Lim appeared on stage with Williams last month at Disrupt. You can check out that sit-down below.
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