Private Equity

Fund News

Lumos Alternate Investment, Gruhas Proptech to raise Rs.500-Cr realty fund

Economic Times  

Lumos Alternative Investment Advisors and Gruhas Proptech, an entity backed by Zerodha promoters and Puzzolana Group, are set to raise an INR 500 crore fund. The proposed fund will focus on structured debt and equity opportunities in real estate projects (which are primarily residential focused), which have secured required permissions, across major cities. Gruhas Proptech, promoted by serial entrepreneur Abhijeet Pai and Zerodha's co-founder Nikhil Kamath, has joined Lumos as anchor investor and general partner for this fund. FirstBridge Capital Partners LLP founder KK Rathi and SS Asokan, former senior director at Shriram Properties have also joined as co-founders for the platform. The investment ticket size from this fund will be INR 30-50 crore per transaction. The fund, with a tenure of six years, is targeting 18-20% internal rate of return (IRR).