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
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.