Livspace reserves $100 Mn for acquisitions

Livspace, a home interiors and renovation platform backed by KKR & Co. and Goldman Sachs Group Inc., is setting aside $100 million for acquisitions to fuel expansion across India, Singapore, Malaysia and the Middle East.

Livspace Chief Executive Officer Anuj Srivastava said that the startup is in active discussions with eight to nine companies as it hunts for assets that would help the company generate growth and accelerate its path to profitability.

Anuj Srivastava further said, “This is our strategy to expand the market size and the profitability profile of the company. Its consolidation strategy will help put Livspace on a clear path to profitability for our core business over the next 12 to 18 months.”

Ankit Shah, a former Goldman Sachs Executive Director who joined Livspace as Chief Strategy Officer this year, said, “Our plan is to do less but do it well. It gives us more opportunity to truly act as a consolidation platform and acquire some of these capabilities in a strategic way.”

Ankit Shah will spearhead the company’s acquisition efforts. Of the potential targets, Livspace is likely to end up acquiring about three to four companies, rather than taking a small stake in a bunch of companies.