Masa Son has brought his billions to Compass. What happens next? Japanese investor has made giant bets on WeWork through $98B Vision Fund
From left: Robert Reffkin, Ori Allon and Masayoshi Son (Photo illustration by Lexi Pilgrim for The Real Deal)
A five-year-old New York-based residential brokerage has now raised more than $750 million in venture capital. Let that sink in.
Just a month after raising $100 million in a Series E round, Compass received a $450 million infusion from SoftBank, the company announced Thursday, giving it a new valuation of $2.2 billion. The capital makes Compass the richest brokerage in the country – no one else even comes close– and sets it up to make a flurry of acquisitions in coming months.
In this, it mirrors WeWork. The shared-office space company hit a valuation of $20 billion earlier this year after its most recent investment round, also led by SoftBank, a Japanese conglomerate that is transforming the world of venture capital through its $97.7 billion Vision Fund.
Since launching in May, the fund — the world s largest corporate venture c上海同城对对碰交友社区 apital fund — has invested north of $19 billion in 16 companies ranging from robotics to ride-sharing to real estate. After pouring $4.4 billion into WeWork in August — and now pledging another big sum to Compass — SoftBank may be seeing real estate as the next big thing.
“Real estate is a huge asset class, but the sector has been relatively untouched by technology and remains inefficient and fragmente[……]