After the rise and fall of WeWork, venture capital heavyweight Andreessen Horowitz committed a significant sum of money to Adam Neumann’s subsequent business.
According to the New York Times, Flow, a residential real estate firm run by Neumann, has received an investment of about $350 million. According to the publication, the investment will be the largest check ever signed for a single round of funding for the fund.
By providing community-focused services in apartment buildings, Flow aims to address the housing crisis in America. In Atlanta, Fort Lauderdale, Miami, and Nashville, Tennessee, where he intends to act as a landlord, Neumann has already bought thousands of residential units.
Neumann and Andreessen Horowitz’s collaboration is remarkable for a number of reasons. It’s a vindication for the contentious co-founder of WeWork. Additionally, co-founder of the venture capital firm Marc Andreessen, who supported Neumann’s project in a blog post on Monday, publicly opposed a housing construction plan in his hometown of Atherton, California, this month.
In the blog post, Andreessen stated that he and his team “understand how challenging it is to establish something like this, and we appreciate seeing repeat-founders improve on earlier accomplishments by learning from lessons gained.” For Adam, there have been many achievements and lessons learned, and we are eager to travel this path alongside him and his colleagues as they create the future of life.