Bay Street Hospitality VCC, the Singapore-based institutional investment platform, plans to invest around ₹100 crore in Chennai-based real estate company Bharathi Meraki.
Arun Bharathi Arunachalam, Founder and Managing Director, Bharathi Meraki, confirmed the development, saying an MoU was signed on this recently.
The funds will be used for various projects that’s being undertaken by the company, he added.
Bharathi Meraki is the first regional developer that Bay Street has partnered with, William Huston, Founding General Partner, Bay Street Hospitality VCC, said in a social media post.
“The next decade of Indian hospitality does not get built in Mumbai and Delhi. It gets built in cities institutional capital cannot yet be placed on a map,” said Huston in the post.