Singapore’s sovereign wealth fund GIC jumps into co-working, invests in China’s 5Lmeet

GIC is entering a highly competitive industry full of companies with major investors backing them

The Singaporean sovereign wealth fund GIC Pte. Ltd. is making a play to enter the Chinese co-working industry by leading a US$14.55 million investment into 5Lmeet, according to a report in the South China Morning Post.

The other lead investor was the Kaifeng Culture Tourism Investment Group.

While 5Lmeet qualifies under the ‘startup economy’, the company was founded by the ex-Vice...

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