Berlin — Venture capi­tal inves­tors Burd­a­Prin­ci­pal Invest­ments, Sequoia Capi­tal India and Vorwerk Ventures are merging their port­fo­lio company and co-living opera­tor Habyt with its US coun­ter­part Common. Habyt, as the largest co-living company in Europe and Asia, will join US market leader Common to form the largest global co-living operator.

Foun­ded in Berlin in 2017 and led by CEO Luca Bovone, Habyt Group is backed by major inves­tors from around the world, inclu­ding P101, Vorwerk Ventures, DI Capi­tal Solu­ti­ons, Burd­a­Prin­ci­pal Invest­ments, Sequoia Capi­tal India and Mitsu­bi­shi. Common is based in the U.S. and provi­des stream­li­ned manage­ment of multi­fa­mily proper­ties through tech­no­lo­gi­cal, design and opera­tio­nal inno­va­tions. With more than $110 million in venture capi­tal invest­ments, Common provi­des excep­tio­nal expe­ri­en­ces for renters in more than 10 metro­po­li­tan areas across the United States.

The merged company now opera­tes in more than 40 cities and 14 count­ries on three conti­nents, mana­ging more than 30,000 units ranging from co-living to studios to tradi­tio­nal rental housing. Both Habyt and Common tripled their busi­ness in 2022 and expect further growth in 2023. The new merged company is expec­ted to be profi­ta­ble as early as 2023.

About Burd­a­Prin­ci­pal Investments

BPI is a unit of Hubert Burda Media that provi­des long-term growth capi­tal for fast-growing digi­tal tech­no­logy and media compa­nies. Hubert Burda Media is one of the largest Euro­pean media and tech­no­logy groups, which has been successfully inves­t­ing in Inter­­net-based compa­nies since 1998.

About Sequoia India and Southe­ast Asia

Sequoia helps bold foun­ders build excep­tio­nal compa­nies, from idea to IPO and beyond. Sequoia India and Southe­ast Asia actively works with foun­ders from a wide range of compa­nies across all indus­tries, inclu­ding BYJUs, Carou­sell, Druva, GoTo, OYO Rooms, Toko­pe­dia, True­cal­ler, Zomato and nume­rous others. By part­ne­ring with Sequoia, start­ups bene­fit from over 50 years of expe­ri­ence and lessons lear­ned from early colla­bo­ra­ti­ons with compa­nies like Airbnb, Alibaba, Apple, Drop­box, Google, Linke­dIn and Stripe. From the begin­ning, univer­si­ties, foun­da­ti­ons and other non-profit orga­niza­ti­ons have formed the foun­da­tion of Sequoia’s inves­tor base. www.sequoiacap.com/india/ and www.sequoiacap.com/sea/.

About Vorwerk Ventures

Vorwerk Ventures is an inde­pen­dent venture capi­tal fund that emer­ged from the Vorwerk Group at the end of 2019 and is charac­te­ri­zed by a strong commit­ment to consu­­mer-facing and digi­tal compa­nies. Head­quar­te­red in Berlin, Vorwerk Ventures curr­ently mana­ges assets of nearly €500 million and is constantly on the lookout for promi­sing projects. Start­ing with seed and Series A invest­ments of € 1 million up to € 10 million, Vorwerk Ventures offers ongo­ing support and provi­des up to € 15 million for subse­quent finan­cing rounds.

Advi­sors Burd­a­Prin­ci­pal Invest­ments, Sequoia Capi­tal India and Vorwerk Ventures: YPOG
Dr. Benja­min Ullrich (Co-Lead, Tran­sac­tions), Partner
Tobias Lovett (Co-Lead, Tran­sac­tions), Senior Associate
Dr. Tim Schlös­ser (M&A), Partner
Barbara Hasse (M&A), Associate

About YPOG

YPOG is a specia­list tax and commer­cial law firm opera­ting in the core areas of Funds, Tax and Tran­sac­tions. The YPOG team advi­ses a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. YPOG is one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, YPOG employs more than 100 expe­ri­en­ced lawy­ers, tax advi­sors, tax specia­lists and a notary in three offices in Berlin, Hamburg and Cologne.