Access Technology Ventures' Position in Opendoor Tops $1 Billion

Rhea-AI Summary

Access Technology Ventures announced a $300 million purchase of Opendoor Technologies Inc. (NASDAQ: OPEN) stock, enhancing its position to over $1 billion, making it the largest shareholder. This strategy aligns with Access' goal to invest in foundational companies impacting millions across consumer and enterprise technology. Access has supported Opendoor since 2015 and participated in every private financing round, including its IPO in 2020.

Positive

• Access Technology Ventures increases its stake in Opendoor to over $1 billion, solidifying its position as the largest shareholder.
• This investment reflects a consistent strategy to support foundational technology companies.
• Access has a long history of backing Opendoor, indicating strong confidence in its market position.

Negative

• None.

NEW YORK, Sept. 23, 2021 /PRNewswire/ -- Access Technology Ventures, the venture capital and growth technology investment arm of privately held industrial group Access Industries, announced today an additional $300 million purchase of stock of Opendoor Technologies Inc. (NASDAQ: OPEN), a leading digital platform for residential real estate. 

Access' $1 billion position makes it Opendoor's largest shareholder.

Access' additional purchase of Opendoor stock is consistent with Access' strategy to invest in and help build foundational companies that touch millions of customers across the consumer and enterprise technology ecosystems. Access has supported Opendoor since 2015 and has either led or participated in every subsequent private financing, including the company's private placement in 2020 leading up to its IPO.

About Access Technology Ventures
Access Technology Ventures is the $4+ billion venture capital and growth technology investment effort of Access Industries, a privately held, U.S.-based industrial group with global strategic investments of $20+ billion. Its portfolio includes leading technology companies such as Alibaba, Amazon, Digital Ocean, Facebook, Opendoor, PinDuoDuo, Snap, Square and Tencent Music. Access Industries was founded in New York in 1986 by Len Blavatnik, a global entrepreneur and philanthropist. Access Industries invests in industries in which it can maximize long-term value by developing regional and global market-leading companies.

Contact:
media@accessindustries.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/access-technology-ventures-position-in-opendoor-tops-1-billion-301383338.html

SOURCE Access Industries

FAQ

What recent investment did Access Technology Ventures make in Opendoor Technologies?

Access Technology Ventures announced a $300 million stock purchase in Opendoor Technologies.

How much has Access Technology Ventures invested in Opendoor Technologies in total?

Access Technology Ventures' total investment in Opendoor Technologies exceeds $1 billion.

What is the significance of Access Technology Ventures' stake in Opendoor Technologies?

Access Technology Ventures' stake makes it the largest shareholder in Opendoor Technologies, indicating strong support and confidence in the company.

When did Access Technology Ventures start investing in Opendoor Technologies?

Access Technology Ventures has supported Opendoor Technologies since 2015.

What was Access Technology Ventures' role during the IPO of Opendoor Technologies?

Access Technology Ventures participated in the private placement leading up to Opendoor's IPO in 2020.