PE Fund Investments
Naspers Ventures acquires 8.4% in affordable housing finance co. Vastu for $100-M
Naspers Ventures B.V, the wholly-owned subsidiary of Dutch technology investor Prosus, has acquired an 8.4% (effective, 7.8 % fully diluted) interest for approximately USD 100 million in Mumbai-headquartered Vastu Housing Financing Corporate Ltd .Founded in 2015 by Sandeep Menon and Sujay Patil, Vastu is backed by Multiples Alternate Asset Management, Norwest Venture Partners, Creation Investments, 360 ONE Asset Management, and Faering Capital. The Vastu Group comprises two operational entities - Vastu Housing Finance Corporation Ltd (VHFCL) and its 100% subsidiary, Vastu Finserve India Pvt Ltd (VFIPL).VHFCL’s standalone AUM was INR 7,420 crore as on March 31, 2024 (compared to INR 5,293 crore as on March 31, 2023). It caters to the affordable housing segment with an average ticket size of INR 12-15 lakh.
Between Aug 2015 and Sep 2024, Vastu Housing Finance had raised about USD 873 M from DFC, 360 ONE, Creation Investments, Norwest, TA Associates, IFC, Faering Capital, Multiples PE and Asha Impact.For FY24, Vastu Housing Finance had reported about INR 1,254.06 Cr in Operating Income and about INR 360.92 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
