Mofang Gongyu Valuation, Funding & Investors

Mofang Gongyu is valued at $1B as of April 2016.

Last Mofang Gongyu valuation

$1B

Series C · Apr 2016

Last Mofang Gongyu funding round

$150M

Series D · Mar 2019

Cumulative funding Mofang Gongyu raised

$650M

across 3 funding rounds

Key investors in Mofang Gongyu

  • Warburg Pincus
  • La Caisse
  • DT Capital Partners
  • AVIC Trust

Mofang Gongyu Overview

About Mofang Gongyu

Mofang Gongyu is a Shanghai-headquartered operator of serviced apartments targeting white-collar professionals in China. The company manages over 150 complexes in Beijing, Shanghai, Guangzhou, Shenzhen, and other cities, offering furnished units with housekeeping and community services. Originally launched in 2006, it rebranded in 2010.


Founded

2010

HQ

ChinaShanghai

Status

Privately held

Customer focus

B2C

Revenue model

Usage-based

Valuation

$1B (Apr 2016)

Mofang Gongyu Valuation

Mofang Gongyu is currently valued at $1B, based on its Series C in April 2016.

The $300M round was led by AVIC Trust, with participation from Warburg Pincus.

Mofang Gongyu valuation by funding round

Mofang Gongyu valuation by funding round
DateStageValuation
Apr 2016Series C$1B

Mofang Gongyu Funding History

Mofang Gongyu has raised a total of $650M across 3 funding rounds.

Mofang Gongyu's first fundraising round was a $200M Series B in May 2015. The most recent completed round was a $150M Series D in March 2019.

Mofang Gongyu funding rounds

Mofang Gongyu funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2019Series DLa Caisse (lead)$150M-Mofang Gongyu, also known as Mofang Apartments or Mofang Living, is a Shanghai-based operator of institutional long-term rental apartments in China, managing 70,000 units across 20 major cities including Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, Wuhan, Suzhou, Hangzhou, Chengdu, and Xi’an as of March 2019. Founded in 2010 by hotel entrepreneur Alex Zheng, the company positions itself as China’s largest institutional manager of apartments by room count, with strong operational expertise in project development, M&A, and franchise expansion. Investors include Warburg Pincus as the largest shareholder, AVIC Trust, and DT Capital Partners, with total funding reaching $550M to $710M across five rounds prior to or including this one. The specified Series D round of $150M closed on March 8, 2019, led by Caisse de dépôt et placement du Québec (CDPQ, also called La Caisse), with participation from undisclosed investors. Funds were allocated for acquisitions in China’s rental housing sector, franchise business development, IT system enhancements, loyalty programs, market expansion, and general operating capital. CDPQ’s Lim Meng Ann praised Mofang’s leadership in the long-term rental market and operational capabilities. Mofang was building on a portfolio in rapidly developing rental markets, benefiting from international institutional interest. The company continued activity post-round, appearing in unicorn lists and real estate tech reports alongside peers like Lianjia.
Apr 2016Series CAVIC Trust (lead); Warburg Pincus$300M$1B-
May 2015Series BWarburg Pincus (lead); DT Capital Partners$200M-Mofang Gongyu (上海魔域投资管理有限公司), founded in 2009, operates long-term rental housing for urban professionals and workers in major Chinese cities including Beijing, Shanghai, Guangzhou, and Shenzhen, providing professional housing asset management services with safe, affordable, convenient, and comfortable rental solutions across different market segments. The company manages institutional rental apartments and has been active in China's growing rental market driven by urbanization and a mobile workforce. The specific Series B round around May 21, 2015, involved investors DT Capital Partners and Warburg Pincus as lead, with sources listing an amount of $200 million on May 20, 2015. Warburg Pincus had previously invested $60 million in an earlier Series B in 2013 and continued involvement in later rounds. Subsequent funding included a Series C of nearly $300M led by AVIC Trust with Warburg Pincus participation, and a Series D of $150M led by Caisse de dépôt et placement du Québec in March 2019, bringing total funding to $710M over five rounds. The company expanded operations aiming to open 100 buildings and competed in China's rental sector projected to grow from 190 million renters to 250 million by 2025, valued at 2.9 trillion yuan.

Who has invested in Mofang Gongyu?

4 investors have backed Mofang Gongyu across its funding rounds, including Warburg Pincus, La Caisse, DT Capital Partners and AVIC Trust.

Lead investors include La Caisse, AVIC Trust and Warburg Pincus.


Mofang Gongyu Investors

Investors in Mofang Gongyu by funding rounds participated
InvestorHQRoundsRoleFirst check
Warburg PincusUnited StatesNew York City, NY2LeadMay 2015
La CaisseCanadaMontreal1LeadMar 2019

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Mofang Gongyu Competitors

Mofang Gongyu competitors include listed companies like Ingenia Communities and Wework India Management, and private ones like Blueground, Danke Apartment, Aijia Home Furnishing Products and Grover.

Public and private companies comparable to Mofang Gongyu
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BluegroundUnited StatesNew York City, NYPrivate$140M-$1B-
Ingenia CommunitiesAustraliaAustraliaPublicly listed$391M$137M$1.2B4.6x
Danke ApartmentChinaBeijingPrivate--$2B-
Aijia Home Furnishing ProductsChinaNanjingPrivate--$1B-
GroverGermanyBerlinPrivate$236M-$1B4.2x
Wework India ManagementIndiaIndiaPublicly listed$254M$165M$989M5.4x

Mofang Gongyu Public Comps

Mofang Gongyu is still privately-owned, but its public comps include Wework India Management, Pierre & Vacances, Dan Hotels, Upbound, Summit Real Estate Group, Plazza, Smartgroup Corp, Alliances Developpement, Suzhou New District and Mainstreet Equity.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Wework India Management$254M$165M6.0x5.4x9.3x8.3x
Pierre & Vacances$2.1B$626M2.1x2.0x7.4x21.4x
Dan Hotels$513M$54M2.7x-25.7x-
Upbound$4.7B$1.7B0.6x0.6x1.5x5.2x
Summit Real Estate Group$291M$245M8.5x-10.2x-
Plazza$49M-31.1x30.3x--
Smartgroup Corp$233M$96M4.0x3.7x9.6x8.9x
Alliances Developpement$257M$61M4.1x4.0x17.2x15.9x

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Common questions about Mofang Gongyu

When was Mofang Gongyu founded?Mofang Gongyu was founded in 2010.
Where is Mofang Gongyu headquartered?Mofang Gongyu is headquartered in Shanghai, China.
Is Mofang Gongyu publicly listed?No, Mofang Gongyu is a private, VC-backed company.
What is Mofang Gongyu's valuation?Mofang Gongyu was last valued at $1B in its Series C in April 2016.
How much funding has Mofang Gongyu raised?Mofang Gongyu has raised $650M across 3 funding rounds.
What was Mofang Gongyu's last funding round?Mofang Gongyu's last funding round was a $150M Series D in March 2019, led by La Caisse.
Who are Mofang Gongyu's investors?Mofang Gongyu's investors include Warburg Pincus, La Caisse, DT Capital Partners and AVIC Trust.
Which companies are comparable to Mofang Gongyu?Companies comparable to Mofang Gongyu include Blueground, Ingenia Communities, Danke Apartment, Aijia Home Furnishing Products, Grover and Wework India Management.

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