The asset management arm of Dewan Housing Finance Corporation (DHFL) is raising its second fund of $250 million. DHFL Venture Capital expects to first close of this fund in the next couple of months at $100 million. DHFL also plans to raise another Rs 150 crore for its operations, according to this report. The assets under management from its fund are $45 million. From its first fund, called Dreams Fund-I, it has invested in five projects in Pune, Hyderabad, Cochi and Secundarabad.
DHFL isone of the largest private housing finance companies in the country providing housing finance to the lower and middle-income segment in the semi-urban and rural areas in India. It is now planning to increase its balance sheet from the present Rs 4,500 crore to Rs 10,000 crore in the next three years.