Warburg Pincus–backed Mofang Apartments has closed on a $150 million Series D round, led by Canadian fund manager, Caisse de dépôt et placement du Québec.
The Shanghai-based rental apartment manager, which manages 70,000 long-term rental apartments across China, will be using the investment to acquire new projects in rental housing sectors.
Previously, Mofang raised about $400 million across three rounds of equity fundraising, and counts private equity major Warburg Pincus as its largest shareholder. Other investors in the startup include DT Capital and Chinese trust company AVIC Trust.
