WeWork raises total of $404 mln for funds

WeWork, the New York City-based company that provides co-working and office spaces to startups and bigger companies, has raised $404 million in a total of fundings, according to several SEC filings. Crunchbase reported the funds will focus on real estate and are part of an ongoing partnership between WeWork and private equity firm Rhone Group to acquire property for WeWork’s use. In May 2017, sources told real estate news outlet The Real Deal that WeWork and Rhone Group raised “several hundred million dollars” for a real estate investment fund. Also, the outlet reported that WeWork and Rhone Group were reaching out to New York landlords where a co-working company was leasing space. A spokesperson for WeWork declined to comment on the fund filings.