CLSA invests in Singapore e-commerce site

Founded in 2007, FortyTwo positions itself as the dominant market leader in its segment with more than 20,000 items across a range of furniture, home décor, and lifestyle products. It claims the highest website traffic in this space locally with more than 220,000 visitors per month.

CLSA CP invested via its fifth Aria Investment Partners fund, which was launched in November last year. It is the vehicle’s second investment, following a commitment of undisclosed size in September to ACT Genomics, a Taiwan-based cancer treatment supplier focused on DNA sequencing technology.

“We are delighted to be the first investor in FortyTwo,” Miranda Tang, a managing director at Aria, said in a statement. “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’ behavior paradigm shift towards online home furnishings purchases.”

Aria typically invests $10-50 million per deal, targeting entrepreneur and family-owned businesses in India, Southeast Asia, and Greater China. Other investments from the program include Chinese cross-border e-commerce solutions provider Azoya, Indian diaper manufacturer Nobel Hygiene, and supply chain and logistics company Holisol Logistics.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Southeast Asia
• Consumer
• Expansion
• Technology
• Singapore
• CLSA Capital Partners
• e-commerce
• TMT