Bain Capital is setting up a platform with Sattva Group to acquire land parcels and develop purpose-built assets for co-living accommodation across India, which will be operated and managed by Colife Advisory Private Limited, a co-living spaces provider, under the 'Colive' brand.
As part of the partnership, Bain Capital has also spearheaded Colive’s strategic fundraise of $20 million, backed by the Sattva Group, which is an existing investor in Colive.
Trilegal advised Bain Capital on setting up this platform.
Shivani Kabra (Partner) with support from Pooja Natarajan (Counsel) and Associates Ashootosh Kothari, Saurav Thampan, Vaishnavi Venkatesan, and Amol Gupta, advised on corporate law aspects.
Mridul Kumbalath (Partner) and Sadaf Shaikh (Partner), with support from Arnav Nagalia (Counsel), Dilnaz Bapasola (Counsel), Roshni Bansal (Senior Associate) and Associates Mahathi U and Shashank D Bharadwaj, advised on real estate aspects.
Kirti Balasubramanian (Partner), along with Associates Paarth Samdani and Rimjhim Mishra, advised on intellectual property aspects.
Jyotsna Jayaram (Partner), with support from Sindhu A (Senior Associate) and Associates Pranay Jalan, Padmavathi Prasad, and Karthik Rai, advised on TMT aspects.
Apeksha Mattoo (Partner), with support from Rina Goyal (Counsel) and Maitreya Sharma (Associate), advised on employment law aspects.
Cyril Amarchand Mangaldas advised Sattva Group and Colive on this transaction.
The transaction team was led by Harish S (Partner) and Trayosha Darapuneni (Partner), with support from Shruthi Ashok (Principal Associate), Vidushi Kesarwani (Senior Associate), Suryanarayana Mohan (Senior Associate), Darshna G. Vyas (Senior Associate), Associates Akash Thomas Jose, and Yash Chadha.
This platform will be one of its kind in the co-living accommodation space, which is seen as a new-age alternative to traditional residential accommodation options, especially in large urban cities. The platform has already completed initial land acquisitions in Pune and Bengaluru, with nearly 0.5 Mn sq ft of co-living spaces under development.
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