Hong Kongese collaborative living company Weave Co-Living has raised $181 million from New York-based private equity firm Warburg Pincus.
Warburg Pincus' injection is expected to be upsized up to $413.5 million in the future.
With the financing from Warburg Pincus, Weave Co-Living plans to grow its portfolio in gateway cities across Asia Pacific to over 10,000 bedrooms in the next five years.
Weave Co-Living will also launch new rental accommodation options catering to different target demographics. Warburg Pincus said that this partnership builds upon its established investments in the multi-family sector in mainland China.