Temasek, Hillhouse Capital invest $150m in Chinese home listings portal Aiwujiwu

Visual of Aiwujiwu homepage. November 2015

Shangai-based Aiwujiwu, a Chinese rental and second-home listings portal, has completed a Series E round of funding worth $150 million round led by Singapore state fund Temasek Holdings and Hillhouse Capital.

The Asian Venture Capital Journal (AVCJ) reported that Temasek and Hillhouse led the round, with participation from existing investors Morningside Venture Capital, Banyan Capital, Shunwei Capital Partners and GGV Capital and comes in the wake of a Series D round valued at $120 million in May.

Aiwujiwu is a rental and second-hand home listing portal which can functions as a virtual agent. Users on the platform can utilise location-based visualisation and searches, as well as perform transactions like bookings. Their revenue model involves charging a 1 per cent commission for home sales. However, rental services are free.

It allows mainland Chinese home seekers to purchase or rent properties in top-tier cities within China, with property listings for Beijing, Shanghai, Shenzhen and Guangzhou.

According to AVCJ, this brings the total funding raised by Aiwujiwu to $350 million, which is notable for a venture was was only launched in March 2014. Its co-founders are three three former executives from Tudou.com, a Chinese online video platform that merged with industry peer Youku in 2012.

Morningside Venture Capital provided a Series A round of funding in June 2014, while Banyan Capital participated in a Series B round in September 2014, December 2014 saw Shunwei Capital Partners, Morningside and Banyan lead the Series C round. May this year saw their Series D round, led byGGV and Morningside.

Post-series D, since May AIwujiwu expanded into the secondary housing market and to date has grown its team to 16,000 employees distributed across more than 10 cities, who conduct background checks on all projects prior to an online listing.

Citing China News, AVCJ said the the company has claimed to have seen sales of nearly 6000 apartments through its platform. Chinese investment into the online property listings space is increasing, along with competition.

58.com, a VC-backed classifieds website, acquired online real estate listing platform Anjuke, in a $267 million. Meanwhile, the Carlyle Group and IDG Capital Partners have also committed substantial sums to New York-listed online real estate platform SouFun Holdings.

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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.