Singapore-based private equity and venture capital Tanncam Investment Pte Ltd has invested a “notable amount” in Digital Classified Group (DCG), an Australian property firm and operator of online real estate and general classified companies in frontier and emerging markets.

Anthony Galliano, director of Tanncam and CEO of Cambodian Investment Management (CIM), said DCG has demonstrated a unique ability to enter emerging and frontier markets and create a dominant position in their space.

“We are investing in what we believe is a very promising future, a strong management team, and a successful portfolio ripe for continued growth. DCG is on the precipice of another leg of its incredible journey and we are happy to contribute to this,” Galliano added.

Corporate finance and business service firm, CIM, acted as the liaison and financial adviser on the transaction for Tanncam. Anthony will serve on DCG’s board, subject to regulatory approvals.

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A joint statement from Tanncam and DCG revealed that DCG’s portfolio of online real estate and general classified companies consists of Cambodia’s real estate.com.kh and Fazwaz, hausples.com.pg and marketmeri in Papua New Guinea, yula.la and lanloa.la in Laos, and property.com.fj in Fiji.

DCG has a track record of developing dominant property classifieds in frontier markets since 2013. In recent years, it has transitioned its business model from advertising to transactional services to accelerate its growth.

The investment consolidates DCG position in all markets as the leading operator of property classifieds in Asian frontier markets.

“These are very exciting times for our group as the businesses have regained traction post-Covid and we are experiencing strong and robust growth and substantial improvement in the fundamentals of our portfolio,” said DCG group CEO, Mathew Care.

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He welcomed Tanncam as a shareholder, identifying them as sophisticated and well-known established investors. “We have no doubts that they will successfully contribute to our future aspirations and strategic objectives,” he said.