Colive Secures Funding for Co-Living Expansion

Colive is at the forefront of the co-living sector, having successfully raised $20 million in strategic financing led by Bain Capital, in collaboration with its long-standing partner Sattva Group. This capital infusion will primarily focus on propelling Colive’s growth by enhancing its technological infrastructure, broadening its market footprint, and solidifying its role in tech-driven rental housing throughout India.

Funding Details and Future Plans

This funding represents a segment of a larger combined effort: Bain Capital and Sattva Group have initiated a $100 million pan-India co-living real estate platform, with Colive serving as the foundational manager. The platform’s mission will be centered on land acquisition, the development of flagship co-living communities, and the provision of tailored rental accommodations in significant urban hubs.

Scaling the Co-Living Footprint

The primary objective is to enhance the co-living availability from its existing base to a target of 50,000 beds within the next three years. Each site included in this comprehensive strategy will typically encompass around 300,000 square feet, with particular emphasis on executive rental options.

Joint Ownership and Land Development

Under the terms of this initiative, the platform will be co-owned by Sattva Group, based in Bengaluru, which is an equal partner in Colive, and Bain Capital, which maintains the controlling interest. So far, the PropCo-backed platform has acquired land in Pune and Bengaluru, with nearly 0.5 million square feet currently under development. There are plans for further expansion in Bengaluru, Pune, and Hyderabad, with the aim of launching 8 to 10 flagship projects in the near future.