Kushner-Funded Investment Platform For The Wealthy Comes To Toronto
Cadre, the New York-based tech startup platform that allows investors to buy shares of a building as if they were stocks, has opened an office in Toronto.
The company, which is partially owned by BFPS Ventures, a holding company owned by President Donald Trump's son-in-law and advisor Jared Kushner, was founded in 2014. Cadre started out allowing wealthy people to invest $500K or more in buildings of their choice; the minimum investment is now $100K per transaction. Investors typically must drop a lot of capital to buy a decent-sized stake in a building or invest in a real estate fund with no control over where their money is being invested.
“We’re thrilled to announce our expansion to Toronto and this is only the beginning,” CEO and Cadre co-founder Ryan Williams said in a news release. “This new endeavour will drive expansion into additional markets, accelerate our technology road map and continue the growth of our world-class technology and real estate teams.”
This past year, Cadre closed a $65M Series C funding round and scaled to more than $1B worth of investments on its platform. The company has raised more than $133M from investors, including Goldman Sachs, SL Green, Andreessen Horowitz, Jim Breyer of Breyer Capital, the Ford Foundation, Founders Fund, General Catalyst, Khosla Ventures and Thrive Capital.
Cadre has hired Raj Singh to head the Toronto office. A 15-year veteran of both technology and commercial real estate, Singh joins Cadre from the Altus Group, where he oversaw product management and marketing.
The company has already forged a partnership with Toronto's technology meetup TechTO. Cadre hopes to tap into what it describes as Toronto's deep pool of engineering and business talent.
CORRECTION, DEC. 23, 8:45 A.M. ET: A previous version of this story did not have up-to-date information on Cadre's minimum investment required. The story has been updated.