The world’s largest asset management firm, New York-based BlackRock, has led a $53 million funding round into coworking operator GoWork.
The investment is the first onshore private financing transaction in India by the firm. The Gurugram-based coworking firm said the funding, which was raised with the help of CLSA Capital Partners’ Special Situations Group, would go towards expanding across India, as well as creating a support system to infrastructural needs.
“We believe GoWork is an innovative leader in this fast-growing sector,” said Vaibhav Totla, CLSA Capital Partners Special Situations Group managing director.
Currently, GoWork operates 12,000 seats across two offices in Gurugram, which feature gyms, meditation zones and spas. The company said it will also be adding pet care and childcare services to its amenities.
This news comes on the heels of BlackRock raising $2 billion for its flagship opportunistic credit fund that allows it to invest in corporate credit assets globally.