Digital Classifieds Group Secures Investment from Singapore Firm Tanncam

The digital classifieds operator Digital Classifieds Group (DCG) has announced that it has secured investment from Singapore-based private equity firm Tanncam Investment Pte. Ltd.

The details of the investment were not disclosed but a press release did reveal that Tanncam Director Anthony Galliano will sit on DCG's board subject to approval. Speaking of his firm's investment, Galliano said:

“We believe 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”

Founded in 2013 and headquartered in Australia, DCG operates a number of leading portal sites across emerging markets in Southeast Asia and the Pacific region.

According to Group CEO, Matthew Care the company's portfolio is experiencing post-covid growth.

“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. We welcome Tanncam as a shareholder as they are a sophisticated and well-known established investor. We have no doubts that they will successfully contribute to our future aspirations and strategic objectives.”