Lumos Alternate Investment Advisors Pvt Ltd and Gruhas Proptech LLP have partnered to raise a Rs 500 crore real estate fund, structured debt, last-mile funding, and opportunist equity in residential projects across major cities.
Gruhas Proptech, focused on real estate investments and prop tech and promoted by entrepreneur Abhijeet Pai and Zerodha Broking Ltd co-founder Nikhil Kamath, has joined Lumos Alternate Investment as anchor investor and general partner.
“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,” said Anuranjan Mohnot, co-founder and managing director of private equity fund Lumos.
KK Rathi, founder of FirstBridge Capital Partners LLP and SS Asokan, former senior director at Shriram Properties Ltd, have also joined the Gruhas and Lumos board as co-founders.
Nikhil Kamath, co-founder of Zerodha and Gruhas said, “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.”
“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. We are delighted to partner with a highly experienced team that is having a remarkable track record of real estate fund management and real estate development,” said Abhijeet Pai, co-founder of Gruhas and Puzzulona Group.