Catcha-backed co-working space Common Ground has got its first anchor tenant — global entrepreneurs’ network Entrepreneur’s Organisation (EO) which will move to its new headquarters when the facility opens next month.
In an announcement last week, Malaysia’s largest co-working space said that regional venture capital firms like Jungle Ventures, KK Fund, East Ventures and IMJ will be moving to the co-working space too.
“Common Ground’s versatile office setup serves as a convenient base for venture capitalists, enabling a great degree of work flexibility as they travel across markets,” said Malaysian internet company Catcha Group backed Common Ground.
EO is a global network exclusively for entrepreneurs and its Malaysian chapter supports 164 members across the country. As part of the partnership, EO will be hosting events on-site and facilitating mentorship and engagement programs.
The co-working space which spans across 17,000 sqft space in Kuala Lumpur’s Damansara Heights was founded by ex-Catcha Group executive Erman Akinci and former CEO of Guocoland’s Tower REIT Juhn Teo, along with Roen Cian Nagapan of The Roof and Rabin Nijhar of Cisco (M) Sdn Bhd. It will open on March 1.
“Our members come from different industries and diverse backgrounds, each bringing their own unique expertise and skillsets. This enables us to create a vibrant ecosystem within Common Ground, connecting entrepreneurs, advisors, investors and service providers in the one space,” said Erman.
The co-working space will feature over 50 private offices along with an extensive communal café and lounge area. The space is easily converted to a versatile event space that will allow both members and outside parties to hold seminars and talks, designed to encourage group knowledge sharing and community building.
Common Ground is the first such investment from Catcha Group which has companies like iProperty, iCar Asia, Rev Asia, and iFlix in its portfolio. In fact, the co-working space industry has attracted regional venture capital investments given that the industry is estimated at approximately MYR1.3 billion ($291.5 million) regionally.
Some of the traditional players in the space such as Regus and Servecorp are also witnessing increased competition globally through new updated offerings from businesses like Wework and Neuehouse.