Shivalik Investment Fund Secures 50% of Targeted Corpus in First Close of Inaugural Fund

Ahmedabad / September, 2024: Shivalik Investment Fund (SIF), a Category II Alternative Investment Fund (AIF), announced its first close of its inaugural fund, securing 50% of the targeted corpus. The fund has attracted strong interest from high-net-worth individuals and family offices, driven by the trust in Shivalik Group, an Ahmedabad-based real estate developer, the company said in a statement.

The Category II AIF had a targeted corpus of Rs 150 crores, with an option to raise an additional Rs 150 crores under the green shoe option. The fund is primarily focused on investing in residential, commercial, and plotting projects in Ahmedabad’s high-growth areas, the statement added. 

“This milestone is a testament to our vision of creating a trusted privately pooled investment vehicle for our investors,” said Jigar Shah, Key Investment Team Member of Shivalik Investment Fund.

“Our successful first closure of the fund demonstrates our commitment to leveraging our financial and development expertise to enhance our presence in Ahmedabad and maximize returns for our investors,” said Chitrak Shah, Founder & Managing Director, Shivalik Group.

“Ahmedabad’s real estate market is entering a transformative phase, driven by infrastructure development, rising incomes, and increased demand for premium residential and commercial properties. Shivalik Investment Fund is well-positioned to leverage these trends through our professionally managed fund, offering investors an opportunity to be part of Shivalik’s growth story,” said Piyush Kothari, Executive Director, Shivalik Investment Fund Pvt. Ltd.

Shivalik Group has delivered over 75 landmark projects and over 15 million square feet of real estate development. It has also developed more than 12 micro markets across Ahmedabad with its iconic projects.