Frontier Digital Ventures launched; acquires 30% stake in Zameen.com
The deal with Pak’s property portal is the first for the firm aiming to lead online classifieds businesses in frontier and emerging marketsBy Twishy Shahi 20 May, 2014
The digital investment firm, Frontier Digital Ventures, launched by former iProperty Group CEO, Shaun Di Gregorio, today announced it has taken a 30 per cent stake in Zameen.com, Pakistan’s property portal. The deal is the first for the newly formed investment firm.
“As market dynamics are constantly changing, the need for startup companies to equip themselves with the right tools to accelerate their growth has never been more crucial. Frontier Digital Ventures provides just that,” said Founder and CEO of Frontier Digital Ventures, Shaun Di Gregorio. “Along with funding, our experience, vast pool of knowledge of the online classifieds space and well-established global business network, positions us as perfectly to enable and advance highly-driven entrepreneurs in frontier and emerging markets across the globe,” he added.
The announcement of the formation of Frontier Digital Ventures has been made to coincide with the formalisation of its first investment deal with Pakistan’s property portal Zameen.com.
Frontier Digital Ventures is focussed on becoming a leading investor in online classifieds businesses in frontier and emerging markets. Based in Kuala Lumpur, Malaysia, the investment firm offers entrepreneurs both capital and expertise in developing, growing and operating online classifieds businesses.
Headquartered in Lahore, Zameen.com was founded in 2006 by two Pakistani brothers, Zeeshan and Imran Ali Khan. It connects real estate dealers, developers, estate agencies with general buyers, sellers and renters across the South Asian nation. With a population of 180 million people, a growing middle class and a large global diaspora, Pakistan’s growing internet penetration – currently 10 per cent nationwide – promises significant growth in the online classifieds space.
“Zameen.com epitomises the kind of business that Frontier Digital Ventures is seeking to invest in. We love frontier and emerging markets and have a wealth of expertise and a proven track record of extracting value in the opportunities these markets present, so we are really looking forward to working with the team to take the portal to its full potential,” said Di Gregorio.
Frontier Digital Ventures will provide strategic direction and operational guidance to the business. Di Gregorio and Catcha Group CEO Patrick Grove, an investor in Frontier Digital Ventures, will also join Zameen.com’s board of directors.
“Zameen.com is just the beginning. Frontier Digital Ventures is already hard at work building a pipeline of similar opportunities in frontier and emerging markets globally,” Di Gregorio announced.