Bengaluru
Alternative Investments Wealthtech Platform ‘BHIVE.fund’ has raised strategic investments from Gruhas Proptech and Blume Ventures. Gruhas was co-founded by Nikhil Kamath of Zerodha and Abhijeet Pai of Puzzolana and is India’s largest proptech-focussed entity. Blume Ventures, a leading VC firm in the country today, counts multiple unicorns in its portfolio.
‘BHIVE.fund’ was set up by ‘BHIVE Workspace’, the oldest and one of the largest coworking and managed office players in Bengaluru. ‘BHIVE Workspace’ currently runs the largest coworking space in the city and will soon launch India’s largest coworking campus.
“This investment represents a significant milestone towards closing $1 million of Pre-Series A. We have term sheets and commitments to the ongoing Pre-Series A round which will be closing soon,” said Shesh Paplikar, cofounder & CEO of ‘BHIVE.fund’.
“We invested in ‘BHIVE Workspace’ through Blume Fund II in 2015. We have been closely working with Shesh and team, and have been witness to the grit and resilience the team has shown through the pandemic. We are excited about ‘BHIVE Workspace’s’ new venture — ‘BHIVE.fund’. We continue to believe in the capability of this team to build a robust biz. They have evolved to be solving the current real estate problem and are building a scalable business in an ever-growing commercial real estate market in India,” says Sarita Raichura, Vice-President, Blume Ventures.
The round also saw participation from prominent angel investors including Sreeram Reddy Vanga of Kofluence, Leadsquared founders Nilesh Patel and Prashant Singh, Kazi Arif Zaman, CFA, Partner at GestAlt Network and former MD of Everstone Capital, Partner of a prominent California VC firm, and NRIs from the US, etc.
“I have always been a big believer in Commercial Real Estate as an investment class. Technology is disrupting this segment and will bring in more investors through a fractional real estate mechanism. A similar model adopted by ‘BHIVE Workspace’ to the broader alternative asset class is set to grow big. I am very happy to come in as an investor and join Shesh & team on their journey,” expresses Sreeram Reddy Vanga, Investing-Founder, Kofluence.
