PR Newswire | Sep 23, 2021 06:31AM EDT

09/23 05:31 CDT

Access Technology Ventures' Position in Opendoor Tops $1 BillionAccess increases ownership by $300 million to become the largest shareholder of leading digital platform for residential real estate NEW YORK, Sept. 23, 2021

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 VenturesAccess 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

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SOURCE Access Industries