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WeWork, the office rental company recently valued at $16 billion, is raising $300 million in new funding, according to a legal filing obtained by Axios through CB Insights, an investment database. The company's new valuation is slightly higher than when it last raised funds in March 2016: $51.81 a share, up from $50.19.

The Wall Street Journal reported on Monday, citing anonymous sources, that SoftBank has invested $300 million in WeWork as part of its upcoming Vision Fund, though documents reviewed by Axios do not name any backers. WeWork declined to comment.

Real estate ambitions: Earlier this month, WeWork also filed a document related to an upcoming investment vehicle to purchase real estate, something the company hasn't done before (it signs long-term leases for the buildings in which it operates). WeWork declined to comment on the filing, but it lists several managing directors from private equity firm Rhone Group, including at least two who specialize in real estate according to their LinkedIn profiles.

Go deeper

Texas AG sues Biden administration over deportation freeze

Texas Attorney General Ken Paxton speaks to members of the media in 2016. Photo: Alex Wong/Getty Images

Texas Attorney General Ken Paxton is suing the Biden administration in federal district court over its 100-day freeze on deporting unauthorized immigrants, and he's asking for a temporary restraining order.

Between the lines: The freeze went into effect Friday, temporarily halting most immigration enforcement in the U.S. In the lawsuit, Paxton claims the move "violates the U.S. Constitution, federal immigration and administrative law, and a contractual agreement between Texas" and the Department of Homeland Security.

Dan Primack, author of Pro Rata
3 hours ago - Podcasts

Carbon Health's CEO on unsticking the vaccine bottleneck

President Biden has said that getting Americans vaccinated for COVID-19 is his administration’s top priority given an initial rollout plagued by organizational, logistical and technical glitches.

Axios Re:Cap digs into the bottlenecks and how to unclog them with Carbon Health chief executive Eren Bali, whose company recently began helping to manage vaccinations in Los Angeles.