Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • Mingtiandi 2023 Event Calendar
    • Mingtiandi APAC Residential Forum 2023
    • Mingtiandi Asia Logistics Forum 2023
    • Mingtiandi Hong Kong Focus Forum 2023
    • Mingtiandi APAC Data Centre Forum 2023
    • Mingtiandi Asia Office Strategies Forum 2023
    • Mingtiandi Singapore Focus Forum 2023
    • More Events
  • MTD TV
  • People
    • Industry Moves
    • MTD TV Speakers
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Gaw Completes $430M Final Closing of Asia-Focused Proptech Fund

2021/05/29 by Christopher Caillavet Leave a Comment

Sensorflow team

Gaw has already invested in Singapore proptech startup SensorFlow

Hong Kong-based Gaw Capital Partners on Friday announced the final closing of its proptech-oriented Gaw Growth Equity Fund I, bringing total equity raised for the fund (including co-investments) to $430 million.

Launched in late 2020, the investment vehicle backs high-growth, Asia-focused companies in proptech and operational businesses related to real estate. Minus the co-investment deals, the fund closed with $332 million in capital commitments and is about one-third committed, Gaw said in a release.

Limited partners in the venture include sovereign wealth funds, endowments and other institutional investors that have invested in previous Gaw vehicles, as well as new partners.

“We are delighted to be closing Gaw Growth Equity Fund I successfully in such a short time,” said Christina Gaw, managing principal and co-chair of alternative investments for the family headed private equity firm. “The institutional investors’ commitments to our Gaw Growth Equity Fund I reflects their readiness to allocate more of their capital towards proptech and ESG related investments, given the attractive market opportunity and rapid growth of the sector.”

Beike Booster

Gaw has made technology a growing component of its investment strategy, notably with the firm’s Series D financing for Beike, China’s biggest property listings website, before that company’s August 2020 IPO.

Christina Gaw, Managing Principal, Co-Chair of Alternative Investments at Gaw Capital Partners (1) (1)

Christina Gaw, Managing Principal, Co-Chair of Alternative Investments at Gaw Capital Partners

Gaw’s other proptech plays include co-leading a Series A+ financing round totalling $8.3 million for SensorFlow, a Singaporean startup that lets hotels automate heating, ventilation and air-conditioning systems and optimise housekeeping routes; and leading a Series A2 fundraising round totalling $5 million for Switch Automation, a global software developer that helps property owners and facility managers cut operating costs and improve energy efficiency.

Gaw has also ploughed capital into Beijing-based Ziroom, the largest apartment rental management platform in China and the country’s first rental housing unicorn, as well as Tencent Trusted Doctors, which provides a mix of online doctor-to-patient services and offline facilities.

Humbert Pang, managing principal and co-chair of alternative investments, highlighted the potential synergies between these tech businesses and Gaw’s existing property holdings.

“Our vast real estate portfolio will complement proptech companies in adopting the new technologies to implement more ESG initiatives for energy savings, improving operational efficiencies and providing a testing ground for innovation,” Pang said. “Moreover, we have already started to adopt multiple technologies in the space under our management.”

Drawn to Innovation

Aside from the firm’s opportunistic real estate funds, Gaw and its partners in recent years have pursued China-based property strategies with a tech twist.

Last September, Gaw announced that it had closed on $1.3 billion in equity for its first data centre fund, just 10 months after launching the China-focused platform in November 2019. Backed by the Abu Dhabi Investment Authority and other global institutional investors, the fund had been unveiled at the same time as a joint venture with Beijing-based data centre operator Centrin to acquire, develop and operate hyperscale facilities on the mainland.

In October, Gaw revealed that, through a fund under its management, it had reached an agreement with Manbang Group to form a smart logistics JV platform to develop smart logistics properties and facilities across China.

One of the top unicorn companies in China’s logistics industry, Manbang provides freight services to match truck drivers with shippers online through its mobile app, which has transformed and optimised the highly segmented Chinese market, the companies said.

Since its founding in 2005, Gaw Capital Partners has raised six commingled funds targeting Greater China and APAC. Gaw has raised $16.9 billion in equity since 2005 and had $27 billion in assets under management as of 2020’s third quarter.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Finance Tagged With: daily-sp, Featured, Gaw Capital Partners, Gaw Growth Equity Fund I, highlight, Proptech

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

  • This field is for validation purposes and should be left unchanged.

MTD TV

Rise of Greater China’s Young Professionals Propels Multi-Family Sector: MTD TV
Smart Power Use Key to APAC Data Centre Success Say Seraya, Empyrion: MTD TV

More MTD TV Videos>>

People in the News

Ganen Sarvananthan
TPG Upgrades Asia Managing Partner Sarvananthan to Lead Middle East Expansion
Ronshine chairman and CEO Ou Zonghong
Asia Real Estate People in the News 2023-09-18
Claire Cormier Thielke
Hines Greater China Boss Cormier Thielke Joins Prologis to Lead Asia Investment
Kenny Lam Link REIT
Link CIO Kenny Lam Leaving Asia’s Largest REIT

More Industry Professionals>>

People in the News

TPG Upgrades Asia Managing Partner Sarvananthan to Lead Middle East Expansion

Ganen Sarvananthan

US private equity giant TPG announced this week that it has appointed Ganen Sarvananthan, one of the managing partners … Read More>>

Asia Real Estate People in the News 2023-09-18

Ronshine chairman and CEO Ou Zonghong

Director resignations at a pair of mainland China real estate companies lead this week’s list of personnel moves from … Read More>>

Hines Greater China Boss Cormier Thielke Joins Prologis to Lead Asia Investment

Claire Cormier Thielke

Hines veteran Claire Cormier Thielke has left her post as the US developer’s head of Greater China to join logistics … Read More>>

Link CIO Kenny Lam Leaving Asia’s Largest REIT

Kenny Lam Link REIT

Kenny Lam, chief investment officer for strategic investment at Hong Kong’s Link REIT, has resigned from his role after … Read More>>

More Industry Professionals>>

Latest Stories

Logos co-CEO Trent Iliffe
Logos Inks Deal with TEPCO to Develop 100MW APAC Power Network
CIFI Holdings (Group) Co. Ltd., Headquartered in Shanghai
Henderson Buying 50% of CIFI Guangzhou Project and More Asia Real Estate Headlines
MidlandGate Perth
PAG Buying Perth Mall From CPPIB-Backed Fund After Price Slides 25%

Sponsored Features

Behind the Gate: The Anatomy of a Data Centre
Flexible Solutions for China’s Commercial Real Estate Recovery
Building Property Portfolios Ready for China’s New Economy-Led Rebound

More Sponsored Features>>

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2023 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Membership
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2023 China Advertising Media Ltd (Samoa). All rights reserved.

  • This field is for validation purposes and should be left unchanged.