According to reports from South East Asia, leading media company Emtek divested its shares in ProeprtyGuru when the portal company raised 300 million Singapore dollars back in September. Emtek had held shares in PropertyGuru from almost the beginning of the portal company’s journey and according to filings with the Singapore authorities, sold its shares to venture firm TPG during September’s funding round along with other investors including Kreatif Media Karya (KMK), Square Peg Capital, Vulpes Testudo Fund.
Confirming the change in investor portfolio a PropertyGuru spokesperson said: “Our long-term investor Emtek has realized their investment and sold their entire stake in the business. Square Peg is no longer on the board, but continues to be invested in the business”
It has also been confirmed that that Square Peg co-founder Paul Bassat and partner Tushar Roy have stepped down as directors of PropertyGuru’s board.