MUMBAI, June 10 -- Dharana Capital has acquired a 12-14% stake in residential community management platform Mygate for about Rs.225 crore, backing the startup's plans to expand its presence across India and broaden its product offerings, a top executive said.

The transaction values Mygate between Rs.2,100 crore and Rs.2,300 crore and comprises a mix of primary capital and secondary share sales by some early investors seeking partial exits, co-founder and chief executive Abhishek Kumar told Mint in an interview.

"We believe that urban India's move towards gated communities is an irreversible trend and Mygate provides an essential platform to power these ecosystems," Dharana's founder and managing partner Vamsi Duvvuri said.

The fresh ca...