Bengaluru’s BHIVE Workspace Set to Raise INR 400 Crore Fund for Co-Working Expansion

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    BHIVE Workspace, a leading co-working operator headquartered in Bengaluru, has announced its intention to launch a specialized investment initiative. The company aims to establish an INR 400 crore Category-2 Alternative Investment Fund (AIF) with a strong focus on the thriving co-working sector. The strategic move, as reported by Money Control, is set to facilitate the acquisition of fully developed commercial real estate properties in prime locations. BHIVE’s plan includes properties with clear property titles and valid occupancy certificates.

    The proposed effort aims to extend investment opportunities to high-net-worth individuals (HNIs) and family-owned businesses. Interested parties would have the chance to engage in the flourishing commercial real estate landscape, with a minimum investment threshold of INR 1 crore.

    Sheshagiri Rao Paplikar, Founder & CEO of BHIVE Group, acknowledged the evolving investment landscape in India. He highlighted the shift from an era when foreign investors primarily fueled AIFs to the present landscape characterized by a growing pool of domestic investors. Paplikar emphasized the organization’s proactive approach as they venture into the next growth phase.

    Concurrently, BHIVE Group has revealed its strategic decision to conclude operations of its current AIF fund. This fund was previously managed by Sandeep Gupta. Gupta’s departure, the report notes, marks a pivotal moment for BHIVE’s trajectory. In the past year, BHIVE Workspace facilitated transactions exceeding INR 200 crore, solidifying its standing as a key co-working player in the expansive real estate sector.

    As part of its significant expansion last year, BHIVE Workspace inaugurated a new facility in Bengaluru, contributing to a cumulative development of over 1 million square feet across diverse shared workspace locations within the city.

    Since its inception in November 2014, BHIVE Workspace has fostered partnerships with more than 172 startups and continues to operate across four distinct locations in Bengaluru.

    Also read: WeWork Expands Bengaluru Operations with Over 3,600 New Desks in Prime Locations

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