Hong Kong – Monday, 05 November 2018: ARIA Investment Partners V, LP and ARIA Investment Partners V (Non-US), LP (collectively as “ARIA V” or the “Fund”) are pleased to announce their investment in FortyTwo Pte. Ltd. (“FortyTwo” or the “Company”). This latest transaction is the second investment made by ARIA V and it further broadens the Fund’s footprint and commitments in Asia.
FortyTwo is a fast-growing, highly reputable e-commerce home furnishing brand in Singapore. Established more than a decade ago, it has grown to become the dominant market leader in its segment and is also ranked amongst the top e-commerce websites in Singapore. It currently offers more than 20,000 items across a wide range of furniture, home decor and lifestyle products.
ARIA V is the recently launched fifth generation pan-Asia private equity fund managed and advised by CLSA Capital Partners (“CLSACP”). For more than two decades, ARIA Funds have tracked the dynamic consumption patterns shaped by demographic and socioeconomic trends across Asia.
Managing Director of the ARIA Funds, Miranda Tang, commented: “We are delighted to be the first investor in FortyTwo. This investment represents an exciting opportunity to partner with a market leader in a fast growing business area, which is well-placed to benefit from Asian consumers’ behaviour paradigm shift towards online home furnishings purchases.”
Mr Naveed Lee, Founder and CEO of FortyTwo, said: “FortyTwo will continue to strive and provide the best online shopping experience for our customers’ expanding needs. We are confident that with its rich Pan-Asia investment experience and a remarkable track record in supporting portfolio companies, ARIA will help bring the Company to the next level.”
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FortyTwo is Singapore’s leading e-commerce furniture brand. The team now consists of 140 employees and their product range has now expanded to include over 20,000 items under an ever-broadening range of furniture, home decor and lifestyle items. After almost a decade and over 200,000 satisfied customers later, it is now the biggest home furnishing eCommerce website in Singapore with the highest traffic* of more than 220,000 visitors a month.
*Based on ranking data on Singapore-based websites by Alexa.com. Retrieved in October 2018.
About CLSA Capital Partners
CLSA Capital Partners is the asset management business of CLSA, Asia’s leading capital markets and investment group. Established in 1995, CLSA Capital Partners manages a diversified range of strategies including private equity, real estate, credit and transportation and real assets. From eight offices across Asia-Pacific including Hong Kong, Singapore and Tokyo, the firm’s experienced investment teams aim to generate attractive returns for clients while ensuring sustained value creation for portfolio companies and investment partners.
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