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Rising travel demand makes hospitality startups in India a hot pick Photo: Pixabay July 21, 2021 Hospitality startups across both budget and luxury segments have garnered the interest of investors who are betting big on the post-pandemic trend of staycations and workcations. This comes against the backdrop of branded properties becoming the go-to choice for travellers, driven by factors such people continuing to work from home. Backpacker hostel brand GoStops, which targets 18- to-35-year-olds looking for affordable accommodation, raised $1 million in July in pre-Series A round led by IAN and Yuj, the family office of Xander Group founder Sid Yog. Bengaluru-based budget hotel chain Treebo Hotels raised $16 million in June in Series D round led by hospitality group Accor. ....
Synopsis The proposed deal assumes significance as it indicates global investors’ unabated interest in Indian mall developments and confidence that retail consumption will rebound once the Covid-19 pandemic is over. Representative Image The Abu Dhabi Investment Authority-backed Lake Shore India Advisory is in talks with realty developer Ashwin Sheth Group and Singapore’s sovereign wealth fund GIC to acquire Viviana Mall in Thane for around Rs 2,000 crore, said persons with direct knowledge of the development. The proposed transaction will be the largest ever single and operational retail property acquisition in the country. “The discussions between all three entities have reached an advanced stage and the transaction is expected to be completed soon as the terms are being finalised now,” said one of the persons mentioned above. ....
Stride Ventures launches its second debt fund May 25, 2021 Targets more than ₹1,000 crore fund raise Stride Ventures, a venture debt fund, is launching Stride Ventures India Fund II with a targeted corpus of ₹1,000 crore and a green-shoe option to raise an additional ₹875 crore. The firm will continue investing in early-to-late stage start-ups with ticket size from the new fund expected to go up to ₹70 crore, up from ₹25-30 crore in Fund-I. The new fund will have a commitment period of four years within which the capital will be deployed and recycled. With its ability to recycle capital, Stride will effectively have more than ₹3,000 crore for funding start-ups through venture debt and offer multifaceted credit solutions to its portfolio companies. ....
Xander acquires 31-acre logistics park in eastern India ESR Lodha Industrial & Logistics Park (project rendering) May 12, 2021 Xander Group Inc., a Singapore-based alternative investment company, has acquired a 31-acre logistics park in Bagnan, located in West Bengal’s Howrah district, in its first warehousing investment in eastern India as regional demand grows, two people familiar with the development said. At the 800,000 sq ft logistics park on NH-6 (Kolkata – Mumbai Highway), about 55 kilometres (km) from Kolkata, around 50% is leased to e-commerce major Flipkart while the balance area is under construction. The park is being developed by Kolkata-based Jalan Builders. The investment is part of Xander’s $250 million industrial platform, which is advised by its private equity real estate arm Xander Investment Management. ....
Mingtiandi Username Bankers, brokers and accountants lead the way as Mingtiandi brings you our first collection of personnel moves for May. Heading our list is a Hong Kong investment banker who is trading one US financial giant for another, and there’s also a new numbers boss at the parent firm for Club Med and a board level change in Singapore. Bank of America has hired JP Morgan Securities veteran Winnie Ng to head its coverage of Hong Kong, according to a report by Bloomberg. Ng will be joining BOA in late July and will also serve as co-head of Asia Pacific real estate investment banking, according to the media account. Most recently a managing director at JP Morgan, Ng has been with the firm since 2000, according to her LinkedIn profile, and moved to Hong Kong with the banking giant in 2003, after joining in New York. ....