5Lmeet Valuation, Funding & Investors

5Lmeet is valued at $435M as of March 2017.

Last 5Lmeet valuation

$435M

Series B · Mar 2017

Last 5Lmeet funding round

$58M

Undisclosed stage · May 2017

Cumulative funding 5Lmeet raised

$146M

across 4 funding rounds

Key investors in 5Lmeet

  • ZhenFund
  • HSG
  • GIC
  • Gaorong Capital
  • Gopher Asset Management
  • Beijing Xingpai Group

5Lmeet Overview

About 5Lmeet

5Lmeet is a Beijing-based lifestyle co-working operator with a center in Dongcheng district. Facilities include open-plan offices, a gym, rooftop garden, bookstore, and event venues available 24/7. Opened in 2019, it hosts 500 members from tech startups attending workshops in the 5,000 square meter space.


Founded

2015

HQ

ChinaChina

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$435M (Mar 2017)

5Lmeet Valuation

5Lmeet is currently valued at $435M, based on its Series B in March 2017.

The $15M round was led by GIC and Kaifeng Culture Tourism Investment Group.

5Lmeet's valuation has moved from $446M at its Series A in October 2016 to $435M in March 2017, across 2 priced rounds.

5Lmeet valuation by funding round

5Lmeet valuation by funding round
DateStageValuation
Mar 2017Series B$435M
Oct 2016Series A$446M

5Lmeet Funding History

5Lmeet has raised a total of $146M across 4 funding rounds.

5Lmeet's first fundraising round was a $14M Series A in October 2015. The most recent completed round was a $58M undisclosed-stage round in May 2017.

5Lmeet funding rounds

5Lmeet funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2017Undisclosed stageBeijing Xingpai Group (lead)$58M-5Lmeet is a Beijing-based co-working and co-living startup founded in December 2015 by Mao Daqing, combining flexible office facilities with dining and rental apartments; it operated three locations in Beijing as of mid-2017. In May 2017, Beijing Xingpai Group, a conglomerate known for pool tables, sports goods, real estate, and investment, invested RMB 400 million (approximately $58 million) specifically in 5Lmeet as part of a total RMB 800 million split equally with Mao's other company URWork. This brought 5Lmeet's total funding to around RMB 900 million including prior angel investments, with the capital aimed at supporting industrial transformation and facility upgrades in China's co-working sector. Post-investment, URWork and 5Lmeet were valued together at RMB 12 billion ($1.75 billion), highlighting their combined scale in a competitive market resembling a winner-take-all battle among players like Ucommune. Sources note 5Lmeet's standout performance, achieving RMB 1 billion ($146 million) per center opened, though this metric is not defined as revenue, ARR, or EBITDA. Beijing Xingpai's involvement reflects strategic synergies with its real estate arms like Beijing Xingrui and Longxi Properties, aligning with 5Lmeet's property-dependent model covering top-tier Chinese cities. The investment built on prior backing for 5Lmeet, such as GIC's RMB 100 million in February 2017 and an earlier RMB 400 million round in October 2016. Later, Beijing Xingpai continued investing in Mao's ecosystem, including Ucommune (formerly linked to 5Lmeet) with additional RMB 200 million in 2019-2020, amid plans for NASDAQ IPO and expansion.
Mar 2017Series BGIC (lead); Kaifeng Culture Tourism Investment Group (lead)$15M$435M5Lmeet is a Beijing-based space-sharing startup founded in December 2015 by former China Vanke vice-chairman Mao Daqing, offering co-living and co-working spaces that integrate office, living, leisure, and social amenities across China. The company operates centers in Beijing's Dongcheng district featuring open offices, bookstores, gyms, rooftop gardens, restaurants, and event spaces, with plans to expand to at least ten more locations including Shanghai and Henan province. In early 2017, around March 1, 5Lmeet raised RMB100 million ($14.5 million) in a funding round led by Singapore's sovereign wealth fund GIC and Kaifeng Culture Tourism Investment Group, a Chinese local government fund. This round valued the company at over RMB 3 billion. The investment followed a Series A round in October 2016 where it raised over RMB 400 million from investors including Jinyun Electrical and Junzi Capital. GIC expressed optimism about China's urban renewal, sharing economy, and real estate innovation, highlighting the long-term growth potential of integrated urban spaces like 5Lmeet in mega cities such as Beijing and Shanghai. 5Lmeet competes in China's rapidly expanding co-working sector alongside players like WeWork and URWork, the latter also founded by Mao Daqing and valued at $1 billion around the same period.
Oct 2016Series AJinyun Electrical Installation (lead); Junzi Capital (lead); ZhenFund; Gaorong Capital$59M$446M-
Oct 2015Series AZhenFund; Gopher Asset Management; HSG$14M--

Who has invested in 5Lmeet?

9 investors have backed 5Lmeet across its funding rounds, including ZhenFund, HSG, GIC, Gaorong Capital, Gopher Asset Management and Beijing Xingpai Group.

Lead investors include Beijing Xingpai Group, GIC, Kaifeng Culture Tourism Investment Group, Jinyun Electrical Installation and Junzi Capital.


5Lmeet Investors

Investors in 5Lmeet by funding rounds participated
InvestorHQRoundsRoleFirst check
ZhenFundChinaBeijing2ParticipantOct 2015
Beijing Xingpai GroupChinaBeijing1LeadMay 2017
Jinyun Electrical InstallationChinaChina1LeadOct 2016
Gaorong CapitalChinaBeijing1ParticipantOct 2016
GICSingaporeSingapore1LeadMar 2017
Kaifeng Culture Tourism Investment GroupChinaKaifeng1LeadMar 2017
Gopher Asset ManagementChinaShanghai1ParticipantOct 2015

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5Lmeet Competitors

5Lmeet competitors include listed companies like Falcons Beyond Global, Parken Sport, The Gym Group and Cinema XXI, and private ones like Unrivaled Sports and ShengXianChuanQi.

Public and private companies comparable to 5Lmeet
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Falcons Beyond GlobalUnited StatesUnited StatesPublicly listed$15M$10M$331M-
Parken SportDenmarkDenmarkPublicly listed$290M$87M$305M-
Unrivaled SportsUnited StatesNew York City, NYPrivate$30M-$650M21.7x
ShengXianChuanQiChinaHefeiPrivate--$435M-
The Gym GroupUnited KingdomUnited KingdomPublicly listed$329M$121M$437M2.8x
Cinema XXIIndonesiaIndonesiaPublicly listed$330M$104M$432M1.3x

5Lmeet Public Comps

5Lmeet is still privately-owned, but its public comps include The Gym Group, Cinema XXI, Raisio, Seprod, Servcorp, Beijing Jingxi, HelloFresh, Marr, Fore Kopi Indonesia and Cultiba.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
The Gym Group$329M$121M3.0x2.8x8.1x7.3x
Cinema XXI$330M$104M1.4x1.3x4.4x4.4x
Raisio$258M$48M1.4x1.4x7.5x8.4x
Seprod$966M$97M0.8x-8.5x-
Servcorp$249M$67M2.2x2.1x8.2x3.6x
Beijing Jingxi$50M($43M)9.0x-(10.3x)-
HelloFresh$7.8B$246M0.0x0.0x1.5x0.8x
Marr$2.4B$103M0.3x0.3x8.0x6.8x

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Common questions about 5Lmeet

When was 5Lmeet founded?5Lmeet was founded in 2015.
Where is 5Lmeet headquartered?5Lmeet is headquartered in China.
Is 5Lmeet publicly listed?No, 5Lmeet is a private, VC-backed company.
What is 5Lmeet's valuation?5Lmeet was last valued at $435M in its Series B in March 2017.
How much funding has 5Lmeet raised?5Lmeet has raised $146M across 4 funding rounds.
What was 5Lmeet's last funding round?5Lmeet's last funding round was a $58M undisclosed-stage round in May 2017, led by Beijing Xingpai Group.
Who are 5Lmeet's investors?5Lmeet's investors include ZhenFund, Beijing Xingpai Group, Jinyun Electrical Installation, Gaorong Capital, GIC, Kaifeng Culture Tourism Investment Group, Gopher Asset Management, HSG and Junzi Capital.
Which companies are comparable to 5Lmeet?Companies comparable to 5Lmeet include Falcons Beyond Global, Parken Sport, Unrivaled Sports, ShengXianChuanQi, The Gym Group and Cinema XXI.

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