Lennar recognised $395m in paper losses during the quarter ending February 2022 from the publicly traded section of its corporate venturing portfolio.

US-listed house builder Lennar plans to spin off corporate venturing unit LenX later this year after losses from its investments, it has said.

The move would involve Lennar becoming a “pure-play homebuilding company,” the corporate said, citing volatility in the valuations of the publicly-traded companies in which it holds stakes.

In its latest quarterly earnings report, Lennar recognised $395m in paper losses during the three months ending February 2022 from its investments in six publicly traded tech companies: online real…

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James Mawson

James Mawson is founder and chief executive of Global Venturing.