Hong Kong-headquartered real estate private equity firm Gaw Capital Partners has closed its first commingled growth equity fund, Gaw Growth Equity Fund I, at over $430 million. Excluding capital raised for co-investment deals, the fund closed at $332 million in total commitments and is approximately one-third committed. Investors in the vehicle include sovereign wealth funds, endowments and other institutional investors that have invested in Gaw Capital’s flagship Gateway Funds, as well as new limited partners. The growth fund was launched in late 2020 and invests in proptech and real estate-related operating companies with a primary geographical focus on Asia.
Gaw Capital Partners’s proptech investments include a Series D financing for Chinese housing transaction and service platform Beike, which was listed on the New York Stock Exchange in August 2020; China’s co-living space management Ziroom; online-offline medical service provider Tencent Trusted Doctors; SensorFlow in Singapore; global real estate software company Switch Automation; and Vietnam-based Propzy. The first vehicle will focus primarily on real estate opportunities across sectors and markets in Asia, while the second will invest in education platforms in major Asian cities. In addition to six funds in the Gateway Fund series targeting Asia Pacific, Gaw Capital Partners also manages opportunistic funds in Vietnam and the US, along with a Pan-Asia Hospitality Fund and European Hospitality Fund. The firm managed $27 billion of assets as of Q3 2020.