Zolostays' first investor Nexus to exit

Zolostays' fundraising includes a $56 million Series C round led by Investcorp and Mirae Asset

- Sneha Shah

Ten years after placing its early bet on Zolostays, Nexus Venture Partners is preparing to exit the co-living firm, according to three people in the know. The startup, now valued at about ₹1,500-1,600 crore, has trimmed its non-core operations and is courting new investors, as it looks to scale in the competitive premium co-living space.

"Nexus has initiated talks with several VC (venture capital) funds and some strategics. It is looking to sell its entire 27% stake," one of the persons cited above said.

The Bengaluru-based startup, which has raised about $113 million so far from a clutch of investors through debt and equity, has been struggling to grow beyond its core markets. It had recently sold its student housing business that manages accommodation for colleges and universities to Good Host Spaces for $12.5 million.