SmartOwner invests in co-working firm Workspace

SmartOwner Capital Growth Fund, a real estate alternative investment fund, has put in around Rs 30 crore in a Co-working operator Workspace, its maiden investment in this rapidly growing segment. The funds will be used to build co-working space spread over 500,000 square feet in Pune with a target internal rate of return of 24%. India’s booming start-up sector has opened up huge demand for co-working space, driving business for companies such as WeWork, CoWrks, Smartworks and Awfis Space Solutions, which are expected to double their capacity in the coming years.