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Office Locations:
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222 Broadway, 19TH FLOOR
New York, NY 10038
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Real Estate & Construction
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166 2nd Financial Services is the Family Office of Adam Neumann, the founder of WeWork. Ilan Stern, previously a staffer at General Catalyst and Soros Fund Management LLC, has been hired to lead the family office. According to published reports Neumann has cashed out approximately $700M of his more than $4B stake in the co-working space company he founded. Neumann and his wife, Rebekah, once lived in a tiny apartment at 166 2nd Avenue in New York City, and thus named the Family Office after the location of their more humble beginnings. According to Business Insider, the WeWork CEO bought a Greenwich Village townhouse for $10.5 million in 2014. And in 2017, he spent $35 million on property on Gramercy Park. He and his wife also reportedly own homes in Westchester County and the Hamptons. It is unclear what types of investments--other than personal real estate--the family office is engaging in.
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Investment Firm Key
VC = Venture Capital
PE = Private Equity
A = Angel
I = Incubator
MB = Merchant Bank
VD = Venture Debt
FI = Family Investment Office
FOF = Fund of Funds
ED = Economic Development Office
TT = Technology Transfer Office
CVC = Corporate Venture Capital
SEC = Secondary Purchaser
HF = Hedge Fund/Mutual Fund
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| COMPANY STAGE | REVENUE |
| Venture Capital | |
Seed Stage
(includes "pre-seed," or
concept stage) | No Revenue |
| Early Stage | Minimal
Revenue |
Growth Stage
(also called Mid-stage) | $2M-$7M |
Expansion Stage
(also called Late-stage) | $7M and greater |
| Private Equity | |
| Lower Middle Market | $10M-$249M |
| Middle Market | $250M-$499M |
| Upper Middle Market | $500M-$1B |
| Large Cap | >$1B |
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