Altern Capital, a leading real estate investment management firm based in Bengaluru, has made a significant stride into the Indian real estate market with the launch of its inaugural fund, Jiraaf Au India Real Estate Fund – I. The fund is targeting to raise INR 250 crore, with an additional greenshoe option of INR 100 crore. The fund has secured approval from the Securities and Exchange Board of India (SEBI) as a category II alternative investment fund (AIF). Sponsored by AI Growth Private Ltd under its brands Jiraaf and Altgraaf, Jiraaf Au India Real Estate Fund – I focuses on plotted development and last-mile funding strategies.
The fund has a targeted tenure of four years and aims to mitigate risks associated with approvals and execution. Altern Capital’s strategic approach to real estate investment involves leveraging technology for rigorous investment and post-investment monitoring. The company aims to deliver superior risk-adjusted returns to its investors. The fund’s investment strategy prioritizes plotted development projects in cities such as Bengaluru, Chennai, Hyderabad, and Mysuru. Additionally, it will also focus on last-mile funding initiatives in Bengaluru, Mumbai, Pune, and Chennai.
This strategic focus is aligned with the growing demand and rapid sales observed in plotted developments, particularly in Bengaluru and Mysuru. Grade A developers and listed entities have shown increasing interest in this sector in recent years. The launch of Jiraaf Au India Real Estate Fund – I marks Altern Capital’s entry into the Indian real estate investment landscape. The firm’s emphasis on technology and its focus on targeted urban centers with robust property dynamics positions it well to capitalize on market opportunities. As the fund moves forward, the industry will closely watch its impact on the real estate investment ecosystem and its ability to deliver value to investors.
