HK co-work space operator Campfire snags $18m Series A

Image from Campfire

Hong Kong-based co-working space operator Campfire announced that it has secured an $18-million Series A round led by real estate conglomerate Kwai Hung Group, Sa Sa International Holdings Ltd, and Rykadan Capital Ltd’s subsidiary – Fast Global Holdings Ltd, it said in a statement.

The round was also joined by Ring Capital Ltd and Potent Assets Ltd. Campfire said it plans to further expand its business to other global cities including Tokyo, Osaka, Bangkok, and Brisbane.

In the short term, Campfire is also planning to set up a space in central London this August, as well as new locations in Melbourne, Sydney and Singapore.

“In such a competitive industry, we saw a huge need for innovation and differentiation, not only in Hong Kong but worldwide. While we have seen a lot of new entrants into the market over the past two years, having a solid and strong business model, working with the right partners and ensuring we maintain a unique offering for our members has been instrumental to delivering results for our investors,” said Campfire co-founder and CEO, Wang Tse.

Campfire was launched in 2016 with industry-focused co-working space. It sets itself apart by expanding its reach across co-living, co-learning and co-retail. It has grown from occupying an 8,000 sq ft space in Kennedy Town, Hong Kong to over 560,000 sq ft across four countries and 20 locations.

Co-founded by three entrepreneurs – Albert Fung, Wang Tse and Brian Fung – Campfire last raised a $6 million seed round from various angel investors in the real estate industry in March 2017.

Recent fundraising announcements from other co-working space operators in the region include Malaysia’s Catcha-backed Common Ground who raised a $20 million Series A round, and India-based IndiQube’s $15 million Series A round.

Also read:

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

Malaysia’s Catcha-backed Common Ground snags $20m in Series A round

Co-work space operator IndiQube raises $15m Series A led by WestBridge Capital

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.