Australian property management company :Different has raised $25 million in a Series B round, while global PE firm Partners Group has invested in South Korea’s BHC Group, a franchisor of F&B brands.
Australia’s :Different raises $25m Series B
Australian property management company :Different has raised $25 million in a Series B round led by Commonwealth Bank of Australia’s (CBA) venture-scaling entity x15ventures and global early-stage venture capital firm Antler, according to an announcement.
The new capital will enable :Different to expand nationally, and continue building its team of property managers and technology platform.
:Different was founded by ex-Silicon Valley executives, Mina Radhakrishnan and Ruwin Perera in 2017 and has grown quickly to reimagine the property management experience through people and technology.
It has doubled its team in the last year alone, and now services properties across Australia’s eastern seaboard, with thousands of owners, tenants, and properties under management.
The partnership with CBA will help :Different reach its 15 million customer base, with :Different soon being accessible across various CBA channels including the CommBank app to support property investors with guidance throughout the home buying journey.
x15ventures delivers new digital solutions to benefit Australian consumers and businesses. It is a wholly-owned subsidiary of CBA and operates its own delivery model, through a dedicated stand-alone management team.
Co-lead investor Antler has offices globally including in London, Berlin, Stockholm, New York, Singapore, Sydney, and Melbourne.
Partners Group invests in Korea’s BHC Group
Other investors who joined this investment included Glendower Capital, and Hamilton Lane.
Established in 1997, BHC Group is one of South Korea’s leading franchisors of multiple F&B and restaurant brands, including Korea’s leading fried chicken brand BHC as well as premium beef restaurant chain Changgo.
As of December 31, 2020, the company operated over 2,000 franchise and directly-owned stores across Korea, and has also expanded overseas to Hong Kong.
MBK Partners SS first invested in BHC in 2018 and, together with the management team, led a series of value creation initiatives that have spurred the rapid expansion of the business in terms of store growth, profitability, and international expansion.
Partners Group has $119 billion in assets under management. The firm has invested over $150 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally.
MBK Partners, founded in 2005, is the largest independent North Asian PE firm with over $24.5 billion in capital under management.