The Quorum Club secures pre-series A funding from Gruhas, accelerating expansion plans

Vivek Narain, Founder & CEO, The Quorum and district150_1

Vivek Narain, Founder & CEO, The Quorum and district150_1

Quorum Club Private Limited has successfully closed a pre-series A fund-raise in a capital investment of an undisclosed amount from Gruhas. Gruhas was founded in 2021 by seasoned entrepreneurs Nikhil Kamath (Zerodha) and Abhijeet Pai (Puzzolana). Gruhas is focused on Early-stage, Venture, and Debt investment in the PropTech, CleanTech, Media & Entertainment space. Nikhil and Abhijeet have acquired a 5% stake in The Quorum Club. This move aligns with Gruhas’ growing interest in lifestyle, media, and consumer-facing brands.

The funding round also witnessed participation from Quorum’s major shareholders that include: Alok Oberoi, Gurmeet Nihal Singh, Sabre Advisors, Shon Randhawa, Sattva Group, and Karanpal Singh.

Established in 2018, Quorum Club Private Limited is the parent company of India’s first globally inspired, contemporary members-only lifestyle club, The Quorum. The platform also recently launched a meetings, events and & culture space, district150 — a purpose-built hospitality amenity for the office building of tomorrow. With this pre-series A funding, the unique lifestyle hospitality platform, that is design-led and content-driven, will position itself to accelerate its ambitions to build a pan-India presence. By 1st April 2024, the company will have 222,000 square feet of operating assets under its management.

The Quorum announced its third and largest club in December 2022, which is set to open in Hyderabad’s Sattva Knowledge City this month. In line with businesses’ evolving needs to integrate lifestyle into the work routine, Quorum is also doubling down on its co-working portfolio, under the brand name – The Business Quarter (TBQ), which are hospitality-powered spaces that are being co-located to its clubs.

The Quorum Hyderabad will feature a 110-seat premium co-working facility. In addition, The Quorum Mumbai — located in Central Mumbai’s One World Centre — is also expanding TBQ from 198 seats to 451 seats.

The Quorum will next target markets like Bangalore, Goa, and Delhi as part of its roll-out. district150, which serves as a core amenity for the office building, is aiming to have a pipeline for 8-10 assets under various stages of operations and development in the next 5 years in partnership with leading grade–A institutional developers. Its first asset in Hyderabad is in partnership with Sattva Group and Blackstone India Real Estate.

Speaking about the partnership with Gruhas, Quorum Club’s Co-Founder & CEO Vivek Narain said, “We’re delighted to have Nikhil and Abhijeet on our cap table. As we look to scale our business, Gruhas’ reputation in the capital markets and their recent focus on the media, entertainment and consumer businesses will be accretive to our efforts to build a lifestyle hospitality platform. Furthermore, Gruhas has a strong presence in Hyderabad and Bangalore which are key markets for us.”

Speaking about Gruhas’ investment, its Co-Founder & Partner Abhijeet Pai said, “We’re pleased to have invested with The Quorum Club and Vivek’s vision as they are embarking on the next phase of growth. The Quorum and district150 are uniquely positioned between hospitality, art & culture, wellness, community, and design at its core. With this differentiated positioning and diversified income streams, we believe they are poised to become a meaningful player in the lifestyle, work and culture space.”

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