Lumos Alternate Investment, Gruhas Proptech To Raise INR 500 Crore Realty Fund

Gruhas Proptech, promoted by entrepreneur Abhijeet Pai and Zerodha's co-founder Nikhil Kamath has joined Lumos as anchor investor and general partner

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Gruha Proptech LLP and  Lumos Alternate Investment Advisors Pvt Ltd (Lumos) have joined hands to raise INR 500 crore for a real estate fund, focused on structured debt, last-mile funding and opportunist equity in real estate projects across major Indian cities.

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Gruhas Proptech, promoted by entrepreneur Abhijeet Pai and  Zerodha’s co-founder Nikhil Kamath has joined Lumos as anchor investor and general partner. 

“Post the second wave of COVID-19, 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,” said  Anuranjan Mohnot, co-founder and managing director of Lumos.

“Our intention is to back this asset class to optimize the offerings in the realty sector. There is an opportunity to democratize the realty sector using technology. This is not only aligned to our sustainability goals but also revives the fixed income market,” said Nikhil Kamath, co-founder of Zerodha.

Lumos Investment Advisors (Lumos) comprises a team of professionals with more than two decades of experience in real estate acquisition and alternate investment fund management, said a statement.