Bay Street Hospitality VCC to invest around ₹100 crore in Bharathi Meraki
The funds will be used for various projects that’s being undertaken by the company
Bay Street Hospitality VCC, a Singapore-based investment firm, intends to allocate approximately ₹100 crore to Chennai-based real estate company Bharathi Meraki. Arun Bharathi Arunachalam, the founder and managing director of Bharathi Meraki, confirmed the partnership after signing a memorandum of understanding recently. The allocated funds will be utilized for the company's ongoing projects.
This marks Bharathi Meraki as the first regional developer with which Bay Street Hospitality VCC has collaborated. According to William Huston, the founding general partner of Bay Street Hospitality VCC, the next decade of Indian hospitality will see growth in cities that institutional capital has yet to reach.
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