Gruhas Proptech, Lumos Alternate Investment come together for its maiden Rs. 500 cr real estate fund

Mumbai, November  30: Gruhas Proptech LLP,  promoted by serial entrepreneur Mr. Abhijeet Pai and Zerodha’s Co-founder Mr. Nikhil Kamath, joins Lumos Alternate Investment Advisors Private Limited (Lumos) as anchor investor and general partner. The joint venture Gruhas & Lumos is in the process of raising Rs. 500 cr for a real estate fund focused on structured debt, last-mile funding, and opportunist equity in real estate projects across major India cities.

KK Rathi, founder of FirstBridge Capital Partners LLP and SS Asokan, Ex-Senior Director at Shriram Properties Limited, also join the Gruhas & Lumos board as co-founders.

Commenting on the development, Anuranjan Mohnot, co-founder and Managing Director of Lumos, said “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.”

Commenting on the development Abhijeet Pai Co-founder of Gruhas and Puzzulona said “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.”.