Stanza Living, which is into student housing, on Tuesday said it has raised funds from US-based private equity firm Equity International, but did not disclose the amount.
An affiliate of Equity International (EI), Sam Zell’s investment firm focused on building businesses globally, has invested in Stanza Living, a company statement said.
The investment is part of Stanza Living’s Series C equity financing round, which saw participation from company’s existing institutional investors — Falcon Edge Capital, Sequoia India, Matrix and Accel Partners, it added.
The funds would be utilised to scale the portfolio, expand geographic footprint, and solidify brand positioning.
This marks Equity International’s second investment in India since 2011.
Stanza Living has raised USD 70 million (about Rs 500 crore) funding since its inception in 2017.
EI’s Chief Executive Officer Tom Heneghan said, “Stanza Living addresses the under-served demand for high-quality, standardized housing in a market with approximately 20 million migrant millennial population.”
Stanza Living has footprint across ten key cities like Delhi, NCR, Bengaluru, Hyderabad, Pune, Indore, Coimbatore, Chennai, Vadodara, Dehradun. The company was founded by IIT-IIM alumni Anindya Dutta and Sandeep Dalmia.
Founded by Zell in 1999, Chicago-based Equity International Management is a private equity firm focused primarily on building high-quality businesses outside the United States. PTI MJH