Adams Street Partners’ $20 Million Funding in Homeward

Vinson & Elkins advised Homeward in connection with its $20 million in equity funding.

Homeward has raised $20 million in equity funding from Adams Street Partners and another $85 million in debt from undisclosed lenders, pitches a plan where the company will loan money to would-be homebuyers equal to the amount of their home equity so these buyers can make an all-cash offer to purchase their next home.

Homeward Inc provides real estate services. The Company focuses on the acquisition, management, and rental of real estate properties. It compares its services to institutional buyers, who can charge up to 9 percent of the home sale price and may force homebuyers to work with an exclusive agent provided by the institution. Homeward works with agents to register clients for Homeward’s service so they can be approved for a loan by the company.

The V&E corporate team was led by partner Paul Tobias (Picture) and associates Luke Thomas and Chris Kirby. Also advising was senior associate Ben Cukerbaum.

Involved fees earner: Benjamin Cukerbaum – Vinson & Elkins LLP; Luke Thomas – Vinson & Elkins LLP; Paul Tobias – Vinson & Elkins LLP;

Law Firms: Vinson & Elkins LLP;

Clients: Homeward Inc;

Author: Ambrogio Visconti