Gaw Capital Partners has raised $430m (€353m) to invest in Asia-focused property technology and real estate-related operating companies.
The real estate private equity firm said the Gaw Growth Equity Fund I, which was launched in late 2020, raised $332m at close and including co-investments had raised total equity of over $430m.
Investors in Gaw Growth Equity Fund I include sovereign wealth funds, endowments and other top-tier institutional investors who have invested in the prior flagship gateway funds, as well as new investors in the vehicle, Gaw said.
Christina Gaw, managing principal, co-chair of alternative investments at Gaw Capital Partners, said: “We are delighted to be closing Gaw Growth Equity Fund I successfully in such a short time. 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.
“It is also a strong vote of confidence in Gaw Capital’s ability to identify compelling opportunities in the booming proptech sector and an endorsement of the team’s extensive knowledge about proptech development, and its intrinsic link to the traditional real estate industry.”
Humbert Pang, managing principal, co-chair of alternative investments at Gaw Capital Partners, said: “It is a great time to start a proptech fund as real estate owners globally are starting to become more engaged in the technological adoption during the pandemic.
“In addition to traditional brick-and-mortar real estate investments, Gaw Capital is embracing new opportunities in this new economic environment by not only providing capital, but also our in-depth expertise in management and global outreach to help those real estate technology companies to grow and thrive.”
To read the digital edition of the latest IPE Real Assets magazine click here.