CoAssets.com welcomes new mentor and private investor

Chi is currently the vice chairman of Vickers Venture Partners and also the chairman of the Singapore Venture Capital Association. His experience covers a variety of industries including information technology, healthcare and media.

“Dr Chi has been mentoring us in his personal capacity since CoAssets started last year.  To a large extent, the good traction and response we are seeing today is a result of his strategic guidance. After many months of mentoring us, we are very happy to have him on board as a private investor,” said Dr Seh Huan Kiat, chief technical officer of CoAssets.

At present, CoAssets is incubated by Expara IDM Ventures Private Limited, an early stage venture capitalist firm based in Singapore, and funded by the National Research Foundation of Singapore through the Interactive Digital Media Programme. 

“In terms of future plans, we are in the process of scaling the business. We are starting to get more opportunity providers to come to us and we need to grow the team as well as the user base to keep up with demand. The real estate crowdfunding market is a very new area and there are definitely many growth opportunities.  We are in the process of raising more funds to bring CoAssets to the next level and, hopefully, we will be able to find even more suitable partners and investors to work with,” said Kiat.

CoAssets is Southeast Asia’s first real estate group buying and crowd funding platform.  The platform is supported by the Interactive Digital Media Programme of the Media Development Authority (MDA) and funded by the National Research Foundation (NRF). 

Officially launched in Singapore on July 2013, it currently has close to 2,000 registered users.  In terms of deals, since February 2013, the total value of deals listed on CoAssets is more than $25million and the amount successfully funded currently stands at more than $5million.