Colive to add 12,000 beds in tech hubs via $100 mn venture

Shared living company Colive, which has partnered with Bain Capital and real estate firm Sattva Group to set up a $100 million platform, will develop properties that will add 10,000-12,000 beds in the major technology micro-markets of Bengaluru, Pune and Hyderabad, a top company executive said.

- Madhurima Nandy

In these cities, the Bengaluru-based firm will acquire 8-10 land parcels of around 1-3 acre each and develop built-to-suit co-living spaces.

The Bain Capital and Sattva Group-backed firm had last month launched the co-living real estate platform with an initial commitment of $100 million. Separately, Colive also raised $20 million in a Series B fund-raise led by Bain, along with participation from existing investor Sattva.

So far, Sattva-backed Colive has primarily leased buildings and then operated them as shared living spaces.