Adam Neumann is back.

The founder of WeWork, whose impressive increase and drop has been chronicled in books, documentaries and a scripted tv collection, has a new undertaking — and a stunning backer.

Mr. Neumann is starting off a new firm called Stream, focused on the residential true estate marketplace, the DealBook e-newsletter studies. Notably, it has the fiscal help of Andreessen Horowitz, the popular Silicon Valley undertaking funds business that was an early trader in almost everything from Fb to Airbnb.

Andreessen Horowitz is regarded royalty between early-stage investors, so its backing is a powerful indicator of assistance, and possibly a rebuke to Mr. Neumann’s critics, who have described his management of WeWork as a cautionary tale of company hubris.

The firm’s investment in Movement is about $350 million, according to three men and women briefed on the offer, valuing the organization at much more than $1 billion before it even opens its doorways. The investment is the most significant particular person test Andreessen Horowitz has at any time published in a spherical of funding to a corporation.

Move is predicted to launch in 2023, and the undertaking cash giant’s co-founder Marc Andreessen will be part of its board, these people stated. Mr. Neumann is scheduling to make a sizable individual investment in the firm in the type of income and serious estate property.

“It’s generally underappreciated that only a person particular person has essentially redesigned the workplace experience and led a paradigm-transforming world business in the process: Adam Neumann,” Mr. Andreessen wrote in a take note posted on his firm’s web site on Monday, describing his rationale for investing in the organization.

At its peak, WeWork was valued at some $47 billion After a botched community offering and tales of mismanagement, it imploded spectacularly. Mr. Neumann was ousted from WeWork in 2019, but walked absent with hundreds of millions of bucks. Right now, WeWork has a market place value of about $4 billion.

Mr. Andreessen wrote that “we love observing repeat-founders develop on past successes by developing from lessons discovered.” For Mr. Neumann, he added, “the successes and lessons are loads.”

Mr. Neumann, who has procured additional than 3,000 condominium units in Miami,…