Cadre (company)
| Company type | Private |
|---|---|
| Industry | Financial technology, Real estate investment |
| Founded | 2014 |
| Founder | Ryan Williams |
| Headquarters | New York , United States |
Key people | Ryan Williams (CEO and Executive Chairman), Jared Kaplan (former CEO) |
| Products | Real estate investment platform, Direct Access fund, managed portfolios, secondary market, Cadre Cash |
| Parent | Yieldstreet (since 2023) |
| Website | cadre |
RealCadre LLC, widely known as Cadre, is a U.S.-based financial technology firm that provides both individual and institutional investors with direct opportunities to invest in real estate assets, focusing mainly on commercial real estate in New York. The company operates a platform that allows investors to participate in specific real estate deals by committing smaller amounts than would be necessary to fully finance a property. For instance, a $60 million office building acquisition involved 12 institutional investors, including family offices and endowments.
Established in 2014 by Ryan Williams, who currently holds the positions of CEO and Executive Chairman, Cadre has been featured on Forbes' "FinTech50" list for seven straight years starting in 2016, including being the cover story in 2019. In 2018, Cadre formed a partnership with Goldman Sachs, through which Goldman’s private wealth clients invested at least $250 million into real estate opportunities via Cadre’s platform.
In 2020, the company introduced its "Direct Access" fund aimed at smaller-scale investors with a fundraising target of $400 million. Alongside this fund, Cadre launched services such as managed portfolios, a real estate secondary market, and a cash management account named "Cadre Cash." The firm pledged that no less than 10% of the Direct Access fund would be allocated to minority-owned operators and committed to increasing deposits in black-owned banks as part of its efforts to combat racial inequality.
In 2023, Cadre unveiled Cadre Direct Access Fund II, a value-add investment vehicle designed to raise $500 million focused on opportunistic assets arising from disruptions in capital markets, primarily attracting institutional capital. That year also marked Cadre’s acquisition by Yieldstreet, an international alternative investment platform. Despite the acquisition, Ryan Williams continues as CEO while Cadre operates independently as a subsidiary. Prior to this acquisition, the company had secured venture capital funding from various investors.
History
Ryan Williams, who founded and initially served as CEO, launched Cadre with backing from Thrive Capital and General Catalyst, securing $18 million during a 2015 funding round. Early financing included a $250 million credit line from the family of George Soros and an additional $250 million liquidity backstop provided by an undisclosed family office. Michael Fascitelli, CEO of Vornado Realty Trust, also invested and joined Cadre’s board. The firm received advisory support from Jared Kushner for approximately 18 months.
Williams was recognized on Forbes' "30 Under 30" list in 2018. The investment committee is led by former Vornado Realty Trust CEO Michael D. Fascitelli. The team also features talent recruited from Silicon Valley, including the ex-head of engineering at Mint.com.
In 2016, Cadre secured another $50 million round of funding with Fascitelli joining its investment committee. By 2017, it had gained accolades such as being named an "Inc. New York start-up to watch," inclusion on Equities.com's Pioneer 250 list, and recognition among Fast Company's "5 FinTech startups to watch." That same year saw an additional $65 million raised under the leadership of Andreessen Horowitz. In 2018, Goldman Sachs private wealth clients gained access to investments through Cadre’s platform.
Early in 2018, Cadre announced plans to expand into residential real estate lending by investing in loans originated by third parties. Later that year, it introduced the "Cadre Secondary Market," enabling investors to trade positions after holding them for one year, alongside launching the "Cadre Managed Portfolio" service requiring a minimum investment of $250,000.
Toward the end of 2018, Cadre created an opportunity zone fund designed to capitalize on tax incentives established by the Tax Cuts and Jobs Act of 2017, encouraging investments in economically disadvantaged areas with associated capital gains tax advantages.
By 2019, CEO Ryan Williams highlighted Cadre's mission to disrupt the traditional real estate sector. By late that year, the company had returned more than $100 million to its investors.
In 2020, Allen Smith—former CEO of Four Seasons Hotels and Resorts and Prudential Real Estate Investors—was appointed president of Cadre. That year also saw initiatives aimed at promoting equity within the company: Juneteenth was adopted as a company holiday and programs focused on mentorship and skill development were launched to expand economic opportunities for underrepresented groups.
October 2020 marked the debut of "Cadre Cash," a feature allowing investors to earn cash rewards on eligible balances held within the platform.
In early 2021, Cadre announced its $400 million "Direct Access" fund targeting individual investors, financial institutions, and wealth advisors with a minimum commitment of $50,000—reducing per-property investment requirements to below $5,000. This fund includes liquidity options through a secondary market following a mandatory holding period and dedicates at least 10% of investments to minority-owned operators while allocating 5% of cash holdings to black-owned banks.
In 2022, Jared Kaplan was appointed CEO as founder Ryan Williams transitioned to Executive Chairman and Co-Chairman of Cadre's Global Investment Committee. Kaplan previously led OppFi as CEO and founded Insureon.
Subsequently, Williams returned as CEO and spearheaded the launch of new offerings such as the Cadre Direct Access Fund II.
Yieldstreet Merger
Toward the end of 2023, Cadre joined forces with Yieldstreet, an international platform specializing in alternative investments. Both entities continue to function as distinct divisions, with Ryan Williams maintaining his leadership role at Cadre.
According to Fortune Magazine, this merger paves the way for a potential initial public offering. At the time of consolidation, Cadre and Yieldstreet collectively delivered returns exceeding $3.1 billion from investments totaling $9.7 billion across a client base of 500,000. Williams outlined intentions to enhance institutional distribution channels and diversify the range of institutional-grade products alongside innovative solutions designed to simplify private market investing.
Platform
Cadre’s platform differs from conventional real estate funds that rely on centralized decision-making by empowering investors to choose specific projects through its carefully curated digital marketplace. Utilizing proprietary data analytics for thorough due diligence, Cadre also facilitates quicker sales processes with reduced fees for sellers. CEO Williams underscores the company’s commitment to expanding global access to opportunities for building wealth through real estate.
The platform accommodates secondary market transactions and managed investment portfolios, with strategic plans to apply its data-driven investment framework to other illiquid asset categories beyond real estate, such as energy, natural resources, oil, and infrastructure sectors. Furthermore, Cadre provides a cash incentive program known as "Cadre Cash" for qualifying account balances.