Triveda Capital, a prominent alternative investment fund (AIF) registered with the Securities and Exchange Board of India (SEBI), has achieved a significant milestone with the successful closure of the initial round of its debut real estate fund. The fund has secured a substantial Rs 80 crore from a diverse range of investors, including prominent figures from the education and real estate sectors.
The initial closing of the fund, which is part of a larger fundraising goal of Rs 250 crore, has garnered significant support from key investors. The chairman of the Manipal Education and Medical Group, a renowned institution in India, has made a substantial investment in the fund. Additionally, the family office of Century Real Estate Holdings has committed 15% of the total fund size, demonstrating their confidence in the fund’s strategy and potential. Triveda Capital’s maiden real estate fund is focused on plotted development and residential assets in major South Indian metropolitan areas.
The fund has already identified its first investment, a 30-acre plotted development project located near a key airport. This strategic investment marks the fund’s entry into the South Indian real estate market. The fund’s investment strategy includes both in-house under-construction projects and third-party developments. With a total fund size of Rs 200 crore and an additional Rs 50 crore green shoe option, the fund aims to deliver attractive returns by investing between Rs 15 crore and Rs 50 crore per project. The fund is targeting an internal rate of return (IRR) of 18%-21% and expects to manage projects over a three-year lifecycle.
As a Category II AIF, the Bangalore Opportunity Fund is well-positioned to capitalize on the growing real estate market in South India. The fund’s five-year tenure aligns with its strategic objectives, allowing it to maximize returns through targeted investments in high-potential development projects. Triveda Capital’s successful fundraising efforts demonstrate the growing investor interest in the Indian real estate sector. The fund’s early success sets a strong foundation for its future growth and expansion. With a focus on delivering attractive returns to its investors, Triveda Capital is poised to become a significant player in the South Indian real estate market.
