Mumbai Angels invests in BHIVE ALTS, a fintech platform for investments in commercial real estate, along with others

 

Mumbai Angels invests in BHIVE ALTS, a fintech platform for investments in commercial real estate, along with others

BHIVE ALTS plans to triple its AUM to INR 300 Cr by 2023-24 and expand its user base to 2 lakhs from the current 72,000.   13 January, 2023: Mumbai Angels, a premium private investment platform, recently invested an undisclosed amount in BHIVE Alts, a fintech investment platform for fractional ownership of the commercial real estate, alongside other investors. Shortly after the funding round and 14 months since it commenced operations, BHIVE Alts has now announced that it has crossed INR 100 Cr in AUM (Assets Under Management). The startup plans to triple its AUM to INR 300 Cr by 2023-24 and expand its user base to 2 Lakhs from the current 72,000 with the freshly infused funds.

Nandini Mansinghka, Co-Founder & CEO of Mumbai Angels, commented on the investment, “Fractional ownership is a new-age investment technology that is increasingly finding the allegiance of middle-class millennials desiring lucrative wealth creation opportunities over medium to long-term horizons. BHIVE Alts’s growth milestones are a testament in itself to its proven capabilities and the growth potential of the solutions it offers. We wish the team great success in its expansion endeavors in the future.”

Shesh Rao Paplikar, Chief Executive Officer and Co-Founder BHIVE Alts said, “As an organization, we are committed to bringing value for our customers and the Alternative Investment ecosystem. Our primary focus is to create wealth for our customers by generating risk-adjusted returns through our attractive investment opportunities. Through our unique asset acquisition strategy we were able to bring compelling real estate investment opportunities to our customers. We have been actively pursuing growth in the fractional real estate sector and are delighted to announce the milestone of crossing the INR100 Crore mark. This is a testament to our commitment to bringing the best for our investors and partners, and we are committed to tripling our AUM and customer base over the next year.”

BHIVE, a group of coworking and fintech companies focused on commercial real estate was established in 2014. BHIVE Workspace is the largest co-working space provider in Bengaluru, with 172 startups and companies operating from its 17+ locations today. Currently, the company operates in Bangalore and plans to be in 6 major cities in India by June 2024. BHIVE Alts, the fintech arm of the group, aims to democratize alternative investments in commercial real estate through technology that provides retail investors access to institutional quality real estates, which were previously accessible only by private equity funds. The platform has boarded 20k+ investors so far and currently holds INR 100 Cr AUM and 600 active investments.

About Mumbai Angels Started in 2006, Mumbai Angels, India’s premier platform for private investment, holds an AUM of USD 130 Mn and a 200+ strong portfolio spanning a wide range of sectors, such as Technology, Consumer, Life Sciences, DefenseTech, SpaceTech, EV, AgriTech, FinTech, EdTech, Gaming, and Content, etc. Of the overall portfolio, the platform has exited/secured the next round of funding for 100+ of them. The platform has 700 investors spread across 60+ Global and Indian cities.