GAW Capital Leads US$52 Mln Funding for 99 Group

By Editorial Team 29/07/2022
Housing
Summary

Southeast Asia's online property platform 99 Group raised US$52 million in a Series C round led by GAW Capital Partners. The injection of US$37 million was completed at the first close, and the remaining US$15 million will be disbursed in stages over the next few months. The funds acquired more than doubled 99 Group's total funding to US$80 million. For the record, GAW Capital is a private equity firm focusing on the Asia Pacific real estate market. GAW Capital's total assets reached US$35.2 billion consisting of residential houses, offices, shopping centers, serviced apartments, hotels, and logistics warehouses.

Humbert Pang, Managing Principal, Head of China and Co-chair of Alternative Investments at Gaw Capital Partners, revealed the company's optimism about the Southeast Asian market. "[This investment] offers us great synergy to help us scan the market for investment opportunities and unparalleled go-to-market capabilities for our projects," he elaborated in a press release on Thursday.

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