Gruhas Proptech Plans To Launch $150 Mn Fund In Q1FY23

Proptech focussed investor Gruhas Proptech plans to roll out a $150 Mn fund in the first quarter of financial year 2022-2023 that will invest in incubators and startups.

A PTI report quoting Gruhas Proptech promoter Abhijeet Pai said that the startup is currently in talks with global investors for the same.

The proptech focussed investment firm exploring opportunities in the Middle-East and African countries, Pai told PTI.

“Because of the immense success of the current portfolio, and razor sharp focus on disruptive prop focus, Gruhas has strategic interest from large global firms for launching a proptech fund of $150 Mn in the first quarter of 2022,” he said.

Gruhas has so far invested in eight startups spanning fractional ownership, green materials, debt, new age tech, low-cost housing, mapping, and other real estate and proptech initiatives.

Gruhas Proptech partnered with Lumos Alternate Investment Advisors (Lumos) last month to form a joint venture that is currently raising INR 500 Cr for a real estate fund focused on structured debt, last-mile funding, and opportunist equity in real estate projects across major Indian cities.

The proptech-focused venture capital firm is backed by Puzzolana Group’s Abhijeet Pai and Zerodha’s Nikhil Kamath.

Proptech is the use of digital technologies in the real estate industry. The pandemic has increased demand for and adoption of proptech services.

Aurum PropTech recently announced that it will invest $5 million to acquire a majority stake in B2B SaaS startup TheHouseMonk. The startup is in the rental real estate business.

NoBroker, a Bengaluru-based real estate platform, became India’s first proptech unicron last month when it raised $210 million in its Series E round, bringing its total fundraising to $361 million. The round was led by existing investors General Atlantic and Tiger Global Management, and it also included Moore Strategic Ventures from the United States.

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