Coworking space provider Awfis Space Solutions is in advanced talks to close a $25 million funding round led by ChrysCapital, one of the largest domestic private equity firms, according to two people familiar with the matter.
Awfis, which counts venture capital firm Sequoia Capital, Three Sisters, the family office of Yes Bank promoter Rana Kapoor and Temasek-backed venture debt firm Inno-Ven Capital as institutional backers, will use the proceeds to further ramp up its pace of growth, even as deep-pocketed competitors double down on the space.
For ChrysCap, which manages assets worth $3 billion, the deal, if successful, will be among its first in a new-age, tech- enabled business. Private equity investors have taken selective bets on internet companies, but have shown interest in platforms that have both an online and physical presence. .
Awfis, which was seeded by Three Sisters, has so far raised an estimated $51 million in a mix of equity and debt financing. It had last announced a $20 million financing round led by existing investors in July last year.
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