Austin-based Kong Capital LLC, a real estate private equity firm focused on the senior housing sector, has raised $4 million in seed funding. The investors include real estate entrepreneurs as well as private equity and venture capital managers.
AUSTIN, Texas, Feb. 21, 2020 Kong Capital LLC announces a raise of $4 million in seed money from investors throughout the U.S. The investor group includes leading real estate entrepreneurs as well as private equity and venture capital managers.
Kong Capital, based in Austin, focuses exclusively on strategic investment opportunities in the growing Senior Housing sector. Led by CEO Coe Schlicher and Principal Kate Ford, the firm offers an innovative approach to developing and enhancing projects in this asset class. The Kong Capital team has a depth of experience across a range of industries, from healthcare to technology, making the firm uniquely qualified to source markets and to manage the operational complexities of Senior Housing.
Prior to founding Kong Capital, Mr. Schlicher worked with Titan Development where, in 2016, he launched Titan Development Real Estate Fund I. During this time, he served as Fund Manager, Principal, and was responsible for managing the Senior Living vertical. Upon closing the company’s seed funding, Coe Schlicher stated, “It has been great to gain the support from our initial investors who believe in our unique strategy. The Senior Living sector continues to be a space with solid and predictable returns. Kong Capital is creating new solutions to meet the growing challenge of providing best-in-class and cost appropriate real estate solutions for a growing senior population.”
Kong Capital investor, Raj Idnani from Blueprint Capital Management said of his decision to invest, “Senior Housing is an uncorrelated asset class that we believe will perform well regardless of the overall market environment. Having spent some time evaluating managers in that space, we feel that Coe and Kong Capital have the right experience and capabilities to generate the best risk adjusted return to investors.”
David Wieland, investor in Kong Capital and Founder and Managing Partner at Motivate Venture Capital said, “Coe is one of those people you invest in whenever you get the chance. I feel fortunate for the opportunity to invest in leveraging the Kong Capital team’s experience operating and developing high-performing senior living facilities.”
Kong Capital is currently raising capital to fund several direct deals specifically in Independent Living, Assisted Living, and Memory Care facilities. The team will subsequently begin fundraising for a $200 million discretionary fund in the third quarter of 2020.
About Kong Capital
Kong Capital is an Austin, Texas based real estate private equity firm focused exclusively on strategic investment opportunities in the growing Senior Housing sector.