Soho House Backers Led by Burkle Invest $100 Million, Sky Says

(Bloomberg) -- Private members’ club Soho House has secured a $100 million investment from new and existing shareholders, Sky News reported, citing people familiar with the matter. The round was led by Ron Burkle, billionaire businessman and the company’s largest investor.

The funding values Soho House at $2 billion, Sky reported, meaning the firm has kept the valuation it achieved in last year’s funding round, despite coronavirus lockdowns that have shut bars and entertainment venues around the world.

Soho House’s U.K. clubs remain closed, but some of its international venues such as Malibu have started to reopen as restrictions ease. The business, which was reported to be considering a New York IPO in 2018, has expanded with clubs in new cities and co-working spaces in recent years.

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