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Gruhas Proptech, Lumos Alternate Investment JV for maiden Rs 500 cr real estate fund

02:09 PM Nov 30, 2021 | FPJ Web Desk

Gruhas Proptech LLP, promoted by serial entrepreneur Abhijeet Pai and Zerodha’s Co-Founder Nikhil Kamath, announced it has joined Lumos Alternate Investment Advisors Private Limited (Lumos) as anchor investor and general partner.

The joint venture between Gruhas and Lumos is in the process of raising Rs. 500 cr for a real estate fund focused on structured debt, last-mile funding, and opportunist equity in real estate projects across major India cities.

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KK Rathi, founder of FirstBridge Capital Partners LLP and SS Asokan, Ex-Senior Director at Shriram Properties Limited, will also join the Gruhas and Lumos board as co-founders.

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Anuranjan Mohnot, co-founder and Managing Director of Lumos, said “post-second wave of COVID, real estate is emerging as one of the most preferred investment avenues and we are happy to have some prominent industry experts and investors on board to help us in institutionalising real estate investment and management processes. We are now actively looking at residential-focused last-mile funding and structured equity deals for our prospective fund.”

Abhijeet Pai, Co-Founder of Gruhas and Puzzulona said “alternate investment in real estate will be a big opportunity in India given the requirement of capital in the realty sector. Alternate investment platforms along with fintech can provide better opportunities to new edged investors for adjusted yield products.”

Nikhil Kamath, Co-Founder of Zerodha and Gruhas commented “Our intention backing this asset class is to optimize the offerings in the realty sector. There is an opportunity to democratize realty using technology in a manner that decarbonizes the sector. This is not only aligned to our sustainability goals but also revives the fixed income market.”

“We see significant traction in the real estate market, particularly in southern mega cities. In the last five years the real estate market has matured and consolidated much more along with a stable regulatory framework such as RERA. . We expect that increased transparency in real estate will provide stable returns to real estate investors” said SS Asokan.

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