Paul Judge And Marcelo Claure Acquire Property From SoftBank In Clare Market

ACQUISITION IMAGE: Marcelo Claure & Paul Judge DATE: 12/19/2023

BUYER: Paul Judge & Marcelo Claure SELLER: SoftBank

SALE PRICE: $250,000,000

NOTE: SoftBank is divesting its Open Opportunity Fund, with chairman and managing partner Paul Judge and Marcelo Claure, the fund’s vice chairman and general partner, set to acquire it. Judge and Claure will take ownership of the $100 million Open Opportunity Fund 1, the $150 million Fund 2, and the entire portfolio, with Fund 2 increasing its target to $200 million. Claure, who was SoftBank’s COO until 2022, is returning to work with the fund, emphasizing the move towards diverse representation in the venture capital ecosystem. Fund 1, deployed under Claure's leadership, invested $100 million in 75 Black and Latino companies, achieving seven exits and 46 follow-on rounds. The rebranded Fund 2 aims to invest in 50 pre-seed to growth-stage companies in various sectors, prioritizing diversity in the tech ecosystem. SoftBank will continue its involvement as an LP in Fund 2.

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