Soho House have secured $100m of equity funding to continue their international expansion. The private members club business, led by founder Nick Jones (pictured), has sold approximately a 5% stake to US-based private equity firm Raycliff Capital and Simon Property Group.
Nick Jones, alongside restaurateur Richard Caring and billionaire Ron Burkle remain the majority owners of the members’ club, with Burkle holding 60%, Caring 30% and Jones 10%. The business is now valued at $2bn.
The investment will be used to double the number of venues to 50 by 2023 including launching in cities such as Paris, Rome and Tel Aviv, as well as investing in digital services. After opening their first club in London’s Soho in 1995, they now have 27 clubs around the world. They currently have 89,000 members globally, with 36,000 potential members on its waiting list.
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