HK-based co-work space Campfire raises $6m in seed round

Image from Campfire

Campfire Collaborative Spaces has secured $6 million in a seed round from various angel investors in the real estate industry, it announced Wednesday.

It has been operating co-working spaces in two centres in Hong Kong over the past year..

After raising this round, its immediate plans are to complete its projects and keep an eye on regional expansion in the Asia Pacific, the company said.

Its first space in Kennedy Town targets tech startups while the second one is geared towards high fashion in Wong Chuk. It cited in the announcement today that it plans to open three more co-working sites by July.

Due to its aggressive expansion, it also expects to be the largest combined co-working floor space in Hong Kong by the end of this year.

“Campfire was conceptualized as a place where like-minded entrepreneurs can gather to share their experiences and work together, “ says Albert Fung, Co-Founder, and Director of Campfire.

“Being industry-focused, our centres stand out in allowing for more relevant networking opportunities, events, and collaborations.”

Campfire pointed out that demand for co-working spaces in Hong Kong is high while there is a high barrier entry with fierce competition. It claimed there are almost 120 co-working spaces in operation to date.

“Our goal is to help business people to achieve their passions through hard work and perseverance. We understand that finding office spaces in Hong Kong can be tough and a time-consuming process,” says Wang Tse, co-founder and director of Campfire.

Campfire was co-founded by three entrepreneurs – Albert Fung, Wang Tse and Brian Fung. The company is also considering raising more money to launch more differentiated industry-focussed centres to help more businesses in Hong Kong and Asia scale rapidly.

Also read:

Malaysia: Co-working space WORQ closes $786k in funding

Singapore: Co-working space Impact Hub launches S$1m venture fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.