Weave Living Gets Equity Boost From Founder Doshi and Warburg, Launches $500M Japan Fund

Mar 1, 2024 | News

Weave Living has secured further investment from existing shareholders, founder and CEO Sachin Doshi and private equity major Warburg Pincus, as the rental residential operator looks to double its portfolio in an expansion set to take it beyond Hong Kong, Singapore and Tokyo, the company announced Monday.

The equity injection will support Weave’s expansion of its brand footprint and portfolio to over 5,000 owned and managed units in rental housing markets including Tokyo, Osaka, Seoul, Singapore, Hong Kong and other select gateway cities by 2025, the firm said in a release.

While enabling the company to double its current portfolio of 2,500 units, the new investment will also help Hong Kong-based Weave grow its institutional asset management business in the rental housing sector, primarily in the key markets of Japan, South Korea and Singapore.

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The news comes just a few weeks after Weave formally launched fundraising for its inaugural multi-family fund dedicated to the Japan market. Weave Living Japan Residential Venture I is planned as the first in a series of vehicles targeting the rental housing sector in Asia’s second-largest economy, with an initial target of raising $500 million in equity from global institutional investors.

“We are delighted to embark on this next growth phase for Weave with strong support from Warburg Pincus, who has been a trusted and strategic partner to us since 2018,” Doshi said. “We continue to grow our offering across the region with 25 existing locations throughout Asia Pacific’s key rental housing markets, and with strong institutional investor support, are on track to grow our AUM to over $3.5 billion over the coming few quarters.”

Read more: Source: Mingtiandi

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