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Access Technology Ventures' Position in Opendoor Tops $1 Billion
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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.
opendoor makes it possible to sell a home online in minutes, removing all of the headache, uncertainty and risk from the transaction. opendoor is headquartered in san francisco, calif. and has received a total of $320 million in venture funding from khosla ventures, ggv capital, and access industries, along with a large group of angel investors. for more information, please visit www.opendoor.com.
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