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Warburg Pincus Investing up to $413m into Hong Kong's Weave Co-living

Monday, November 12, 2018


(Mingtiandi by Emma Zhou) - US private equity firm Warburg Pincus on Monday announced that it is investing up to $413.5 million into Weave Co-living, and has launched the partnership with a $181 million bet on the sharing economy startup.

The partnership with Weave is the first time that the firm, which manages more than $47 billion in private equity assets worldwide, has invested into an Asia rental accommodation platform outside of mainland China.

The investment by Warburg Pincus will support a plan by Weave, a co-living provider established last year by former APG real estate head Sachin Doshi, to grow its portfolio to over 10,000 bedrooms across major Asian cities over the next five years.

 

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