Southeast Asia-focused hostel chain Mad Monkey eyes Hong Kong as it looks to open 50 properties over next three years

A fund platform operated by Singapore-based private equity fund EXS has invested US$4.6 million in Mad Monkey

Singapore-based private equity fund EXS is looking to expand a hostel chain in Hong Kong catering to young travellers and digital nomads.

EXS Property Innovation Concepts VCC, a fund platform focused on “New Economy Real Estate” across Asia, recently invested US$4.6 million for an undisclosed stake in the Southeast Asia-focused hostel operator Mad Monkey.

Following a successful first round of fundraising, Mad Monkey aims to open up to 50 hostels in the next three years in Asia and Australia, said Chris Tai, a director at EXS, which has led around US$1 billion of investments into real estate businesses, including residential, office, data centres and hostels since its founding in 2007.

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