Vivendi Ventures, a Chennai-based real estate developer, is planning to start a realty private equity business to invest in India, as per a Business Standard report citing the company’s chief.
The company is setting up a unit headquartered in Singapore and would initially look to raise Rs 200 crore and push up its corpus to Rs 500 crore by 2016.
Srinivas Anikipatti, chairman and MD of Vivendi Ventures, told the newspaper that the fund would complete investments in three years starting from 2016.
Vivendi Ventures was established in 2008; it forayed into real estate development with its maiden residential project Villagio.
The company has recently joined hands with Greata Enterprises and Developers for residential real estate project, Masken Heights, which includes a 72-apartment residential area and commercial space involving a cost of Rs 175-200 crore. The other recently launched project of the company is Nile Nahar.
The firm is reportedly raised some money from high net-worth individuals (HNIs) so far.
(Edited by Joby Puthuparampil Johnson)