Nikhil Kamath backed alternative investment start-up BHIVE Alts crosses Rs 100 crore in AUM within 14 months of its operations; aims to triple next year
BHIVE Alts, a fintech investment platform for fractional ownership of commercial real estate today announced that it has crossed Rs 100 crore in Assets Under Management (AUM) within 14 months of its operations. BHIVE Alts was launched earlier this year to offer a unique opportunity for individual investors to invest and earn monthly recurring income by investing in alternative asset classes such as asset leasing, fractional ownership of commercial real estate and revenue-based financing.
BHIVE Alts, in its seed round, has raised an undisclosed amount from marquee investors such as Nikhil Kamath (Zerodha founder), Gruhas Proptech LLP, Blume Ventures, LetsVenture, Agility Ventures, Kyt Ventures, and Mumbai Angels.
The alternative investment platform has more than 72,000 registered users. It has paid more than Rs18 crores worth of pay-out to its customers. It is projecting to triple its AUM to Rs 300 crore in FY 2023-24 and its current user base to 2 lakh.
Commenting on the milestone, Shesh Rao Paplikar, Chief Executive Officer and Co-Founder BHIVE Alts said, “As an organization 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.”
Fractional ownership of commercial real estate in India is becoming increasingly popular as a way for investors to diversify their portfolios and benefit from the lucrative returns of the commercial real estate market. Fractional ownership allows investors to buy a small part of a larger commercial real estate asset, such as a shopping mall, office building, or warehouse, thereby diversifying their portfolio while still earning the benefits of owning real estate.
BHIVE is a real estate investment platform that makes it possible for investors to invest in commercial real estate with a smaller ticket size. With more and more investors interested in fractional ownership, the market for fractional ownership in India is growing rapidly.
About BHIVE
The BHIVE Group is one of the fastest-growing commercial real estate (CRE) focused startups in the country with group companies BHIVE Workspace and Bhive Alts offering co-working spaces and fintech solutions.
Started in November 2014, BHIVE Workspace has become the largest co-working space provider in Bengaluru, with 172 start-ups and companies operating from its 17+ locations. Currently, BHIVE operates in Bangalore and plans to be in 6 major cities of India by June 2024. Having hosted over 400 free events, it focuses on community engagement initiatives and manages the largest Startup Community in Bangalore. BHIVE Workspace has triggered collaborations and catalyzed innovations that are fuelling India’s start-up ecosystem.
