BHIVE: raise Rs 400 crore coworking-focused AIF CAT-2 fund

To support its expansion, Bengaluru-based coworking company BHIVE wants to raise Rs 400 crore for a CAT-2 alternative investment fund (AIF). A series of fully finished commercial real estate assets in enviable locations with clear titles, occupancy certificates, and a capex will be purchased by the new fund that is being proposed. The previous year has seen BHIVE solidify its position as Bengaluru's top co-working provider, completing deals worth more than Rs 200 crore. The number of AlFs in India has increased exponentially. In contrast to a decade ago, when overseas investors were financing India's AlFs, an increasing number of indigenous investors are now supporting their expansion. The BHIVE's founder and CEO, Sheshagiri Rao Paplikar, said, We see a big opportunity in this market and will be aggressive with our plans as we embark on the next growth phase of the organization.