Cadre

Cadre is a New York–based financial technology company that provides individuals and institutions direct access to large commercial properties. The business and financial press describe it as a service that "makes the real estate market more like the stock market" by allowing investors to select the individual transactions in which they participate, while investing a smaller amount than would be required to fully fund a transaction. For example, 12 institutional investors (such as family offices and endowments) participated in a $60 million office building purchase. The firm was named to Forbes' "FinTech50" for 4 years in a row starting in 2016. In 2019, Cadre was the cover story of the Forbes "FinTech 50" issue. In 2018, a partnership with Goldman Sachs was announced through which Goldman Sachs' private wealth clients committed at least $250 million (USD) real estate investments through Cadre. In 2020, Cadre announced its "Direct Access" fund intended to include smaller investors with a $400 million target raise. The company also offers a managed portfolio service and a real estate secondary market, as well as a cash holdings account called "Cadre Cash". The company has announced plans to address racial injustice in the United States by investing at least 10% of its Direct Access fund investments with minority-owned operators and increasing its cash held in black-owned banks. Cadre has received venture capital investment from several sources. History Founder and then-CEO Ryan Williams started the company with Thrive Capital and General Catalyst, which together invested $18 million in a 2015 fundraising round. Startup capital included a $250 million line of credit from the family of George Soros. That round also included a $250 million backstop liquidity commitment from an unnamed family office. Vornado CEO Michael Fascitelli also invested in this round and joined the board. Jared Kushner advised the firm for approximately 18 months. Williams was named one of Forbes' "30 Under 30" for 2018. Former Vornado Realty Trust CEO Michael D. Fascitelli leads the investment committee. Other team members were hired from Silicon Valley firms, such as the former head of engineering from Mint.com.