Collaborative firms Trilegal and CAM establish a $100 million co-living platform, named 'Colive', with investment from Bain Capital and Sattva Group.
Bain Capital and the Sattva Group have announced a partnership to establish a unique co-living platform in India. The platform, operated and managed by Colife Advisory Private Limited under the 'Colive' brand, will focus on the development of purpose-built co-living assets across the country.
The law firm Trilegal advised Bain Capital on setting up the co-living platform, with Kirti Balasubramanian (Partner) handling intellectual property aspects, Mridul Kumbalath (Partner) and Sadaf Shaikh (Partner) overseeing real estate aspects, and Shivani Kabra (Partner) managing corporate law aspects. Apeksha Mattoo (Partner) advised on employment law, with support from Rina Goyal (Counsel) and Maitreya Sharma (Associate). Pooja Natarajan (Counsel), Ashootosh Kothari, Saurav Thampan, Vaishnavi Venkatesan, and Amol Gupta also provided support on corporate law aspects.
On the other hand, Cyril Amarchand Mangaldas advised Sattva Group and Colive on this transaction, with the transaction team led by Harish S (Partner) and Trayosha Darapuneni (Partner). Jyotsna Jayaram (Partner) took care of TMT aspects, with support from Sindhu A (Senior Associate) and Associates Pranay Jalan, Padmavathi Prasad, and Karthik Rai.
Arnav Nagalia (Counsel), Dilnaz Bapasola (Counsel), Roshni Bansal (Senior Associate), Mahathi U, and Shashank D Bharadwaj also provided support on real estate aspects.
The co-living spaces will be one of a kind in the co-living accommodation space, with nearly 0.5 Mn sq ft of co-living spaces under development in Pune and Bengaluru. Bain Capital has led a strategic fundraise of $20 million for Colive, with Sattva Group as an investor.
This transaction does not involve any repetition of earlier mentioned parties: Bain Capital, Sattva Group, Colife Advisory Private Limited, and Trilegal. The partnership between Bain Capital and Sattva Group marks a significant step forward in the co-living sector in India, promising to provide high-quality, purpose-built co-living spaces to meet the growing demand for affordable and convenient housing solutions.
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