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☆ Marcelo Claure and Paul Judge bought SoftBank's diversity fund. Now they're trying to raise $200 million for it.
▼ + stars: | 2024-02-01 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +6 min

Read previewFormer SoftBank executive Marcelo Claure and serial entrepreneur and investor Paul Judge are in the throes of raising a new $200 million fund. The past year has been transitional for the fund since Claure and Judge bought the $100 million fund from SoftBank. Since then, there haven't been any new investments, but the two are poised to capitalize on the success of the first fund and are raising the second Open Opportunity Fund. He said that limited partners' interest has been positive overall since the Open Opportunity Fund's first fund has had so much success. AdvertisementJudge said that he expects the first Open Opportunity Fund to continue to deliver "top quartile" returns to its investors over the next five to seven years.

Persons: —, Marcelo Claure, Paul Judge, It's, Claure, haven't, SoftBank —, I've, Judge, George Floyd's, Masayoshi, Shu Nyatta, Stacy Brown, what's Organizations: Service, Business, Opportunity Fund, Opportunity, Fund, Mastercard, Vista Equity Partners, Ventures, Sprint, Bicycle Capital, TechCrunch Locations: SoftBank, Atlanta, America

☆ Shein files for U.S. IPO as fast-fashion giant looks to expand its global reach
▼ + stars: | 2023-11-27 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Shein has confidentially filed to go public in the U.S. as the Chinese-founded fast-fashion juggernaut looks to expand its global reach with a long-rumored initial public offering, CNBC has learned. Over the next few months, Shein will likely make tweaks to its paperwork and answer numerous questions from the agency. The filing will be made public once the company is ready to move forward with its IPO. He said, "there's no such thing as forced labor" in the Shein factories that he has visited. As Shein grew from an obscure Chinese retailer into a global behemoth with headquarters in Singapore, it largely stayed in the shadows.

Persons: Shein, it's, Marcelo Claure, Sky Xu, Donald Tang, influencers, Xu, Goldman Sachs, Morgan Stanley Organizations: CNBC, U.S . Securities, Exchange Commission, SEC, Chinese Communist Party, Bear, Sparc Group, Authentic Brands Group, Simon, Group, JPMorgan, CNBC PRO Locations: U.S, Beijing, Singapore, Bear Stearns

On Monday, WeWork's stock trading was halted ahead of the opening bell. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementEmbattled real estate giant WeWork filed for Chapter 11 bankruptcy on Monday. WeWork's bankruptcy comes amidst a years-long reorientation for the office industry. Offices globally emptied, and the once-stable commercial real estate sector was thrown into unprecedented chaos, from which it has not fully recovered.

Persons: WeWork, —, David Tolley, Adam Neumann —, SoftBank, Regus, wasn't WeWork, I've, Masayoshi Son, Adam Neumann, Jackal Pan, Sandeep Mathrani, Neumann, Marcelo Claure Organizations: Service, WeWork, Wall Street, New York Stock Exchange, Visual China, Getty, CNBC Locations: Canada, WeWork, York

☆ Shein, the fast fashion darling mulling a U.S. IPO, opens up about forced labor, data privacy
▼ + stars: | 2023-10-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +16 min

The committee is investigating Shein over concerns that Uyghur forced labor is being used in its supply chain and has gone undetected because of the de minimis provision. The committee has not yet drawn conclusions about forced labor in Shein's supply chain. When asked about claims of forced labor in Shein's supply chain, Claure told CNBC he doesn't "believe those allegations are correct." However, forced labor can still show up in other parts of the supply chain, said Chloe Cranston, the head of thematic advocacy programmes at Anti-Slavery International. In 2022, 11% of audits turned up "zero tolerance violations," including child labor, forced labor and wage violations, and 28 suppliers were terminated as a result, according to the company.

Persons: Elham Ataeiazar, Shein, Donald Tang, Matt Kennedy, they're, they've, Mike Gallagher, Elise Stefanik, Steve Scalise, Chip Somodevilla, we're, Marcelo Claure, Claure, Ralph Lauren, Rupert Hodges, Oritain, Chloe Cranston, Cranston, It's, it's, Shang, Jin Wei, Wei, Austin Knudsen, Chris Xu, Jade Gao, Knudsen, Gary Gensler Organizations: Wall, Bear, Chinese Communist Party, U.S, Renaissance Capital, CNBC, Bloomberg, Nike, Adidas, Republican National Committee, Washington , D.C, D.C, Target, Costco, Visual China, Getty, Workers, Columbia University's, Communist, CCP, Microsoft, AFP, U.S . Securities, Exchange Locations: Bear Stearns, U.S, China, Beijing, Xinjiang, Washington ,, Washington, Singapore, Nanjing, United States, Chinese, Guangzhou, Brazil, Turkey, India, Mexico, Montana

☆ WeWork CEO says company is 'here to stay' as it renegotiates 'nearly all our leases'
▼ + stars: | 2023-09-06 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

WeWork CEO David Tolley, who took over the office-sharing company in an interim role in May, wrote in a public letter Wednesday that the embattled business is "here to stay" and that it's immediately undergoing an effort to rework its leases worldwide. "Today, we are kicking off a process of global engagement with our landlords to renegotiate nearly all our leases," Tolley wrote. The latest chapter in the extended WeWork saga involves the company trying to stay solvent. But the combination of Covid-19 shutdowns and the sputtering economy that followed have left WeWork with massive leases in buildings that are underoccupied and worth far less than what the company paid. "Let me finish by making one thing clear: WeWork is here to stay," Tolley wrote.

Persons: David Tolley, it's, Tolley, SoftBank, WeWork, Marcelo Claure Organizations: New York Stock Exchange

☆ Watch CNBC's full interview with Bicycle Capital's Marcelo Claure
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Bicycle Capital's Marcelo ClaureMarcelo Claure, Claure Group founder & CEO and Bicycle Capital executive chairman, and Shu Nyatta, Bicycle Capital managing partner, join 'Squawk Box' to discuss Claure's next chapter, investing in Latin America, his thoughts on SoftBank and WeWork, the opportunity for A.I., and more.

Persons: Marcelo Claure Marcelo Claure, Shu Nyatta, Claure's Organizations: Claure, Bicycle Capital Locations: America

☆ Fmr. SoftBank COO Marcelo Claure on next chapter: We love the potential of Latin America
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. SoftBank COO Marcelo Claure on next chapter: We love the potential of Latin AmericaMarcelo Claure, Claure Group founder & CEO and Bicycle Capital executive chairman, and Shu Nyatta, Bicycle Capital managing partner, join 'Squawk Box' to discuss Claure's next chapter, investing in Latin America, his thoughts on SoftBank and WeWork, and more.

Persons: Marcelo Claure, America Marcelo Claure, Shu Nyatta, Claure's Organizations: America, Claure, Bicycle Capital Locations: America

☆ WeWork CEO Mathrani to step down after joining Sycamore Partners as director
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

May 16 (Reuters) - WeWork Inc (WE.N) on Tuesday said that Sandeep Mathrani would step down as the workspace provider's chief executive officer, effective May 26, while Sycamore Partners named him as a director to lead its real estate activity. Mathrani was named WeWork CEO in 2020 and tasked with the company's turnaround following a botched IPO attempt and amid rising investor concerns over corporate governance standards. The company, which said Mathrani's resignation was not a result of any disagreement, named board member David Tolley as interim CEO. WeWork said lead independent director Daniel Hurwitz would serve as chairman of the board and head a special committee that will search for a permanent CEO. WeWork shares have fallen about 76% so far this year, resulting in a market capitalization of $745.42 million, according to Refinitiv data.

☆ Former SoftBank Exec Lists Three Aspen Properties for Combined $71.5 Million
▼ + stars: | 2023-04-21 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Nearly three years after buying a trio of properties in Aspen, Colo., former SoftBank Group executive Marcelo Claure is listing them for a combined $71.5 million.

☆ Xavier Niel can feast on European telco misery
▼ + stars: | 2023-03-27 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +5 min

LONDON, March 27 (Reuters Breakingviews) - Xavier Niel is set to be more than a spectator in the looming consolidation of Europe’s telecoms industry. It earned EBITDA after leases of 3.3 billion euros last year. Those shareholdings have a combined market value of 1.2 billion euros, though they were partly funded through derivatives, potentially limiting the tycoon’s cash outlay. On a multiple of 6 times last year’s EBITDA of 652 million euros it’s worth little more than the 3.5 billion euros Niel and other investors paid in 2017. Smaller investments in Monaco Telecom and holdings in Senegal and the Comoros are probably worth a combined billion euros, bankers estimate.

☆ Shein to Name Ex-SoftBank Executive Claure to Head Latin America Business
▼ + stars: | 2023-01-31 | by ( Keith Zhai | ) www.wsj.com time to read: 1 min

SINGAPORE—Shein, one of the world’s largest online fashion retailers, is set to appoint Marcelo Claure , a former executive at SoftBank Group Corp., as its Latin America chairman, according to people familiar with the matter. Mr. Claure also made a personal investment of about $100 million dollars in Shein, the people said.

☆ Inside SoftBank Vision Fund's awful, terrible, really bad year. How the venture fund tumbled, according to former employees, investors and rival VCs.
▼ + stars: | 2022-12-08 | by ( Hasan Chowdhury | Ben Bergman | Samantha Stokes | ) www.businessinsider.com time to read: +12 min

SoftBank's Vision Fund just experienced one of its most dismal years in its history. SoftBank's Vision Fund was once a power broker, having raised a jaw-dropping $100 billion in 2017, followed by plans to raise $108 billion for Vision Fund 2 in 2019 — two of the largest venture-investing vehicles ever established. But insiders are now questioning if it will ever regain influence, according to 11 ex-Vision Fund investors, former employees, VCs, and industry analysts who weighed in on the future of the Vision Fund. One ex-Vision Fund investor described Son, now taking the reins of Vision Fund 2, as someone who is "not a manager." Given its investing performance so far, the obvious question is what happens once Vision Fund 2 has reached full investment.

☆ Former SoftBank Operating Chief Marcelo Claure Lists Miami Beach Property for $39.9 Million
▼ + stars: | 2022-11-02 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Marcelo Claure , a former Sprint CEO and SoftBank Group executive, is listing a piece of waterfront land in Miami Beach for $39.9 million.

NEW YORK/TOKYO, Sept 29 (Reuters) - Japan's SoftBank Group Corp (9984.T) is cutting around 150 staff globally at its Vision Fund unit and SoftBank Group International, a person familiar with the matter said, as CEO Masayoshi Son retrenches following huge loss on his tech bets. Register now for FREE unlimited access to Reuters.com RegisterThe cuts will affect staff in the investment teams and back-office staff in departments such as finance and legal, a second source said. The cuts also encompass SoftBank Group International, which was led by Marcelo Claure before he exited the firm and which manages other group investments. Vision Fund has radically scaled back investing activity, with Son saying SoftBank's second Vision Fund would primarily manage its existing portfolio. SoftBank has sold down its stake in key asset Alibaba Group Holding Ltd (9988.HK) and outlined plans to list Arm.

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