BHive to float new fund, closes debut vehicle after top exec quits

Bengaluru-based co-working space provider BHive said Wednesday it will wind up its maiden alternative investment fund following the departure of the fund manager and will instead raise a new vehicle.

- Priyal Mahtta

Sandeep Gupta, who was managing the debut fund, resigned to pursue new opportunities outside BHive, the company said. Gupta was also the co-founder and chief business officer of BHive Group's alternative asset management platform BHive Alts.

The alternative asset platform, which launched the first fund in May 2022, is now starting another vehicle focused on investing in co-working spaces. The vehicle's size will be about ₹400 crore, the same as that of the debut fund. It is unclear who will manage the new fund.