04 04 2016

WeWork Companies' $16 Billion Round Funding

Debevoise & Plimpton is advising Hony Capital in its investment in WeWork Companies.


The deal values the company at approximately $16 billion, and constitutes the company’s sixth funding round. The transaction reached initial close on March 8, 2016 with Hony Capital as the lead investor in the approximately $430 million round of financing. Hony Capital, founded in 2003 and sponsored by Legend Holdings Corporation, specializes in private equity investment. As a China expert and company builder, Hony Capital currently manages seven private equity funds two mezzanine funds with more than RMB48 billion assets under management. WeWork is a U.S.-based company which provides shared workspace, community, and services for entrepreneurs, freelancers, startups and small businesses, and has more than 40,000 members in 23 cities across the globe. The company, led by Adam Neumann and Miguel McKelvey is based in New York. The Debevoise team advising Hony Capital is led by Hong Kong based partner William Y. Chua (Picture) and associates Parveet Singh Gandoak and Jayne C. So, and also included partners Andrew M. Ostrognai and Gary W. Kubek, counsel Kyra K. Bromley, and associates Mai T. Shapiro and Serena K. Tan. Involved fees earner: William Chua - Debevoise & Plimpton; Parveet Singh Gandoak - Debevoise & Plimpton; Jayne Chi-Wing So - Debevoise & Plimpton; Andrew Ostrognai - Debevoise & Plimpton; Serena Kuang Tan - Debevoise & Plimpton; Gary Kubek - Debevoise & Plimpton; Kyra Bromley - Debevoise & Plimpton; Mai Shapiro - Debevoise & Plimpton;

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