Altern Capital Floats INR 250 Cr Maiden Real Estate Fund

SUMMARY

The fund will focus on plotted development and last mile funding strategies to minimise approval and execution risks while offering a 4 year tenor to ensure early project completion and reliable returns for investors

The SEBI-approved category II alternative investment fund is named Jiraaf Au India Real Estate Fund - I

The company aims for substantial investments in plotted development across cities like Bengaluru, Chennai, Hyderabad and Mysuru

Real estate investment management firm Altern Capital has launched its maiden fund, targeting a total of INR 250 Cr.

The Securities and Exchange Board of India-approved category II alternative investment fund is named Jiraaf Au India Real Estate Fund – I. It will have an additional greenshoe option of INR 100 Cr, the company said.

The fund will focus on plotted development and last mile funding strategies to minimise approval and execution risks while offering a four year tenor to ensure early project completion and reliable returns for investors, Altern Capital said.

“Our goal at Altern Capital is to redefine real estate investment by ensuring tech-based stringent investment and post-investment monitoring and delivering exceptional risk-adjusted returns for our investors. Trust, Team Quality and Transparency are the key foundations of Altern Capital. We believe our innovative approach will set new benchmarks in the industry,” said Navin Dhanuka, founder and CEO of Altern Capital.

The company aims for substantial investments in plotted development across cities like Bengaluru, Chennai, Hyderabad and Mysuru, followed by last-mile funding initiatives in Bengaluru, Mumbai, Pune and Chennai.

Altern Capital is an investment management firm specialising in high-yield real estate investments. The company claims that it has effectively overseen over 150 real estate transactions across major Indian cities, managing assets under management exceeding approximately INR 20,000 Cr in Bengaluru, Mumbai and Delhi NCR.

The development comes at a time when there is a surge in VC and PE firms accumulating funds for Indian startups. Earlier this month, alternative financing firm Anicut Capital marked the final close of its maiden pre-IPO equity fund at INR 300 Cr.

Last month Fintech-focussed VC firm Cedar-IBSi Capital received a sizeable commitment from Riyadh-based asset management company Hades Financial Private Capital Group (HFPCG) for its debut $30 Mn fund. In the same month, Neo group’s asset management arm Neo Asset Management marked the final close of its maiden special credit opportunities fund at INR 2,575 Cr.

In May, consumer VC fund RPSG Capital Ventures also marked the final close of its latest Fund II at INR 550 Cr.