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Square Peg finds square hole in major tech investment

Square Peg finds square hole in major tech investment


Firms around the world have pitched in to enable one of the largest transactions in the technology sector in South-East Asia this year.

Firms: Arnold Bloch Leibler (Square Peg Capital); TSMP Law Corporation in Singapore (PropertyGuru); Cleary Gottlieb Steen & Hamilton in Hong Kong (TPG); Rodyk & Davidson LLP in Singapore and Latham & Watkins in the UK (Immobilien Scout Gmbh).

Deal: Tech venture capital firm Square Peg Capital has made its largest investment to date, acquiring shares in PropertyGuru, the leader in South-East Asia’s online real estate classifieds. PropertyGuru will use funds from the investment to support innovation and growth in South-East Asia.

Australian firm Square Peg is part of a consortium investing in PropertyGuru. The other two investors are global private investment firm TPG and Indonesia’s largest media group, Emtek Group.

Value: Approx. A$169 million

Area: M&A

Key players: ABL partner Jonathan Wenig (pictured) and lawyer Jing Chang.

Deal significance: This transaction has been cited as the largest in the technology sector in South-East Asia this year.

“[This investment] brings [Square Peg] closer to their aspiration of becoming the leading Asia Pacific-based investor in venture and growth stage online and technology companies,” Mr Wenig said.

Square Peg Capital was co-founded by Paul Bassat, who also co-founded employment site SEEK.

Like this story? Read more:

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Square Peg finds square hole in major tech investment
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