DCG is behind leading online property classified realestate.com.kh and other handful of classified platforms established in Papua New Guinea, Fiji and Laos.
The investment will help DCG’s expansion plans across Southeast Asia where Internet penetration has seen a surge with rapid urbanization, said Mathew Care, CEO of DCG.
“We believe that our experience, platforms and committed expatriate and local teams are capable of tackling almost any new opportunities and this additional capital and partnership gives DCG the ability to do this,” said Care.
This is the maiden investment by BRCM, which is expected to foster the platforms particularly in countries exposed to China’s ‘One Belt, One Road’ policy.
The real estate focused platforms of DCG’s portfolio are realestate.com.kh in Cambodia which has got over 47,000 listings for rent and sales and has announced the facilitation of over $30 million of direct sales through two events in 2017.
Hausples.com.pg is another portfolio property platform in Papua New Guinea with over 2,000 listings. Property.com.fj in Fiji has made claims to have over 1500 listings.
Other general classified platforms like yula.la in Laos, marketmeri.com in Papua New Guinea and market.com.fj in Fiji offers a number of products including cars, jobs, real estate, and other services like clothing, telecom and food.
“Having seen the swift growth of DCG’s business in Cambodia, and a high level of professionalism across their local and international operations, I was more than confident to introduce the opportunity to the equity partners of Belt Road,’’ said Alex Odom, chief investment officer at Belt Road Capital Management.
The PE firm hopes to partner with SMEs in the Greater Mekong Sub-regions, consisting Cambodia, Myanmar, Laos, Thailand and Vietnam.
BRCM has launched an initial fundraising of up to $50 million and looking to launch subsequent investment funds in the near future.
SEA’s online economy is estimated at 2 per cent of the region’s GDP and to reach 6 percent of GDP by 2025. The growth is driven by the rising smartphone usage in the region which is estimate to 330 million monthly active users by the end of 2017.