Brigade Group’s The Earth Fund, Gruhas partner to launch Rs.200-Cr fund

Bengaluru-based The Earth Fund has partnered with Nikhil Kamath and Abhijeet Pai-led Gruhas to launch a new fund with a corpus of INR 200 crore, with an additional INR 100 crore in green-shoe option.The Earth Fund is a sustainability and proptech-focused investment fund, set up under Brigade Group’s Zoiros Projects Pvt Ltd. Brigade and Gruhas are investing INR 50 crore each, accounting for 30% of the fund, along with other limited partners, including builders, high-net-worth individuals, and family offices.The new fund aims to invest in 10 to 15 startups with an average ticket size of about USD 1-2 million. The fund will also reserve 30% of capital for follow-on rounds in about five to six companies.The fund will focus on urban tech, encompassing construction tech, real estate solutions, asset utilisation, and sustainability, including climate tech, clean tech, and energy solutions.