Lifestyle hospitality brand The Quorum Club secures pre-Series A investment from Nikhil Kamith's Gruhas of ET HospitalityWorld

Quorum Club Private Limited has successfully completed pre-Series A funding with an undisclosed amount of capital investment from Gruhas. Gruhas was founded in 2021 by experienced entrepreneurs Nikhil Kamath (Zerodha) and Abhijeet Pai (Puzzorana). Gruhas focuses on early stage, venture and debt investments in the PropTech, CleanTech, media and entertainment sectors. Nikhil and Abhijeet acquired 5% stake in The Quorum Club. The move coincides with Gruhas' growing interest in lifestyle, media and consumer brands. Quorum's major shareholders including Alok Oberoi, Gurmeet Nihal Singh, Saber Advisors, Shon Randhawa, Sattva Group and Karanpal also participated in this funding round. Shin.

Founded in 2018, Quorum Club Private Limited is the parent company of The Quorum, India's first globally influenced contemporary membership lifestyle club. The platform recently launched district150, a conference, event, and cultural space. This is a hospitality facility dedicated to tomorrow's office buildings. With this pre-Series A funding, the unique design-driven and content-driven lifestyle hospitality platform is positioned to accelerate its ambitions to build a pan-India presence. By April 1, 2024, the company will manage his 222,000 square feet of operating assets.

Quorum has announced its third and largest club in December 2022, scheduled to open at Sattva Knowledge City in Hyderabad this month. In line with the evolving needs of businesses to integrate lifestyle into work routines, Quorum is also strengthening its coworking portfolio under the brand name – Business Quarter (TBQ). Located in the club.

Quorum Hyderabad features premium coworking facilities with 110 seats. Additionally, Quorum Mumbai, located at One World Center in central Mumbai, is also expanding its TBQ from his 198 seats to 451 seats.

Quorum will next target markets such as Bengaluru, Goa and Delhi as part of the rollout. Serving as the core amenity of the office building, District150 aims to partner with leading Grade A institutional investors to build a pipeline of 8-10 assets in various stages of operation and development over the next five years. I am. The first asset in Hyderabad is in partnership with Sattva Group and Blackstone India Real Estate.

Commenting on the partnership with Gruhas, Vivek Narain, Co-founder and CEO of Quorum Club, said: Gruhas' reputation in the capital markets and recent focus on media, entertainment and consumer businesses will be further enhanced by our efforts to build a lifestyle hospitality platform as we look to expand our business. Additionally, Gruhas has a strong presence in Hyderabad and Bangalore, which are key markets for the company. ”

Commenting on Gruhas' investment, Abhijeet Pai, co-founder and partner, said: Quorum and District 150 occupy a unique position between the core of hospitality, arts and culture, wellness, community, and design. We believe that with this differentiated positioning and diverse income sources, they are poised to become meaningful players in the lifestyle, work and culture sectors. ”