FI  166 2nd Financial Services




     Office Locations:

222 Broadway, 19TH FLOOR
New York, NY 10038

 

Stages:

  • Early


 

Industries:

  • Real Estate & Construction

  •  

    Description:

    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, Tte 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.



    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
       
       
       
    COMPANY STAGEREVENUE
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    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
       
       
     

    Investment Team:


    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription or New York Database subscription.
    Adam Neumann Founder
    Ilan Stern Manager

     

    Recent Funding Events (trailing 12 months):


      Date


      Name


      State


      Amount


      Stage


      02/02/2021


      Valon


      NY


      $50,000,000


      Series A


     

    Portfolio companies include:


      Valon
        web link


     

    Recent News: