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Report: Real estate tech startup Cadre could get $100M boost from SoftBank fund

Real estate technology startup Cadre is in talks for a potential investment of $100 million or more from the SoftBank Vision Fund, Bloomberg News reported, citing unnamed sources.

The unnamed sources told the news outlet that SoftBank's assessment of Cadre is underway and a decision is not anticipated for a few weeks.

People close to Cadre told Bloomberg that White House Senior Adviser Jared Kushner and his brother, who both co-founded the startup, are not involved in the funding talks with SoftBank and that it was the latter that approached Cadre.

Bloomberg noted that Jared Kushner's role as a government figure and a likely beneficiary of the potential deal might give the impression of conflicts of interest on policy concerns.

SoftBank Vision Fund, which was formed by SoftBank Group Corp. CEO Masayoshi Son to invest in transformative technologies, is primarily backed by Saudi Arabia's Public Investment Fund and the United Arab Emirates' sovereign wealth fund, Mubadala Investment Co.

The Kushner family's New York-based diversified real estate company, Kushner Cos., had publicly declared that it would not accept investments or loans from sovereign wealth funds to fend off possible conflict-of-interest concerns. However, Cadre has not implemented a similar policy, noting that it operates as a private, independent real estate technology platform.

"While we do not comment on hypothetical deals, we are grateful to have such a diverse group of investors and several other potential partners expressing interest in our company," a Cadre spokesperson said in a written statement to the publication.

Neither SoftBank nor Cadre representatives commented on the status of the investment discussions. The Saudi and UAE sovereign wealth funds also did not respond to requests for comments about the potential investment, according to the report.