A heavyweight backer backs Adam Neumann's new venture in real estate. WeWork's founder will launch Flow next year. 

As reported by the New York Times, Andreessen Horowitz invested about $350 million in the company.

Marc Andreessen's firm has made the company's largest investment to date. Flow is worth more than $1 billion, despite being in beta.

Upon launch, Andreessen will join the venture's board. An investor wrote about his desire to disrupt the rental market in a blog post detailing his decision to invest.

Atherton encompasses the most expensive zip code in the country, which is why Andreessen contacted local officials to oppose the development. 

The Times reported that a number of major tech and venture capital players opposed the plan.

In Neumann's first venture after WeWork, Andreessen writes, "successes and lessons are abundant."

Wall Street Journal reported entities related to Neumann had purchased majority stakes in over 4,000 apartments earlier this year.

Atlanta and Nashville were among the markets with holdings valued at more than $1 billion.

Neumann plans to make a large personal investment in Flow through real estate and cash. Community features and service across the portfolio will be consistent across the branded product.

Neumann stepped back from public life after WeWork imploded, forcing him out of the company he founded. 

As a result of drama, a planned IPO at the co-working giant was shelved until November; the company reported a loss of $802 million; its current market cap is just over $4 billion.

Upon Neumann's departure from WeWork, he may have been able to secure funding for his next venture. 

An early 2021 stock award of $245 million was included in his exit package. A $432 million loan was refinanced and he received $200 million in cash.