WeWork founder Neumann's new startup gets backing from Andreessen Horowitz

For Adam Neumann’s next venture after WeWork’s rise and fall, the venture capital powerhouse Andreessen Horowitz pledged a big financial commitment.

The investment in Flow, a residential real estate company led by Neumann, is roughly $350 million, according to the New York Times. The investment will be the largest check written for single round of backing in the fund’s history, the newspaper reported.

Flow seeks to address America’s housing crises by offering community-centric services in apartment properties. Already, Neumann has purchased thousands of residential units in Atlanta; Fort Lauderdale, Florida; Miami; and Nashville, Tennessee, where he plans to operate as landlord.

The partnership between Andreessen Horowitz and Neumann is noteworthy for several reasons. It’s a validation for the controversial WeWork co-founder. And Marc Andreessen, who co-founded the venture capital firm and wrote a blog post Monday in support of Neumann’s venture, openly objected to a housing development proposal in his home city of Atherton, California, this month.

“We understand how difficult it is to build something like this, and we love seeing repeat-founders build on past successes by growing from lessons learned,” Andreessen wrote in the blog post. “For Adam, the successes and lessons are plenty, and we are excited to go on this journey with him and his colleagues building the future of living.”