Italy: Coliving operator DoveVivo, which has a portfolio of 8,000 rooms across 11 Italian cities, has completed a €15 million capital increase.
The cash injection, which saw the participation of the shareholding structure, will finance DoveVivo’s growth plans, beginning with the development of the company’s presence outside of Italy and “some strategically important projects for the domestic market”.
Valerio Fonseca, CEO at DoveVivo, said: “Despite the current crisis, we are very pleased with this operation, also because it provides us with a positive medium to long term view of the coliving sector, which – in our opinion – will increasingly grow, strengthen and industrialise both in Italy and worldwide. We also believe that DoveVivo will be of growing interest to financial and real estate players and real estate investors as it has a solid industrial, financial and asset foundation.”
DoveVivo is the first and biggest coliving company in Italy. Founded in 2007, today it manages a portfolio of around 1,000 rental units and seven residences in 11 cities. These asset are rented out as either individual rooms or the whole assets to thousands of students and young professionals.
