Entrepreneur Media Inc. in Irvine has invested in AlleyNYC, a company that leases shared work spaces on an hourly basis.
New York-based Vandewater Capital Holdings LLC was the lead backer for the $16 million first round of growth capital. The private equity firm said AlleyNYC will use the funds to open a 40,000-square-foot location in the Chelsea section of Manhattan.
AlleyNYC, established in 2012, rents out about 128 desks and 20 offices at a 16,000-square-foot space in Midtown Manhattan. Clients can purchase day or night passes for $20 to $30, as well as access to “a yoga room, a café and lounge, two board rooms, a couch room, and numerous places to sit and collaborate.”
Entrepreneur publishes the monthly Entrepreneur Magazine. AlleyNYC co-founder, Jason Saltzman, is a contributor to the magazine.
